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DUBLIN – Research and Markets has announced the addition of the “50 IoT Startups in India” report to their offering.
One notable trend that can be seen from this report is IoT companies catering to middle and upper middle class population of India. The IoT sector’s growth is catering to both India’s internal Make in India initiative from Government of India and with external outsourcing/product relationship opportunities available from developed world.
Being second in terms of number of digital connectivity (mobile phones) only after China, India is a lucrative and open market for IoT companies. The consumers in this segment are likely to pay for services especially in Healthcare (improved healthcare services and notifications), Home Automation (security), Lifestyle (Automobile – car analyzing running condition, Airport – customer accessing boarding information) etc.
The second area for IoT companies is to focus on Government initiative (Department of Electronics and Information Technology, DeiTY) and work with available funding in improving policy and service enablement of Digital India services to mass population. These solutions will need to adapt themselves as per varying physical conditions across country (such as temperature, rain and connectivity), presence of R&D capabilities in Indian ecosystem, erratic power supply and spotty telecom coverage. The success of solutions will depend on how well these IoT solutions can integrate with Government policies, decision making timeframe, manpower and skill sets availability for implementation of these services.
As shown in this report, many early stage IoT startups have already taken off in India and they are coming from not only Tier 1 and Tier 2 cities but also from Tier 3 cities, which highlights the potential and penetration of IoT possible in the country. According to Machina Research3 data cited at the TiE panel, the global market for IoT in 2020 will be worth $373 billion in revenue, with $194 billion from hardware and $179 billion from software. India will account for $10-12 billion of this total revenue – but this figure can be much higher if proactive steps in tapping hardware potential and building IoT skill sets is taken by Indian companies.
Although the Electronics System Design and Manufacturing sector is projected to cross $400 billion in 2020, more than 65% of India’s hardware is imported. India’s electronic import value is estimated as the same size as India’s petroleum imports. Most of India’s hardware components in the mobile phone assembly industry are imported from China, and tests of locally developed hardware components are usually done in the US, Europe or China.
Key Topics Covered:
1. Current Market Scenario and Trends in India
– Market Overview
– Development of IoT Industry
– Key Trends of Industry on Demand Side
– Key Trends of Industry on Supply Side
2. Investment Trends
– IoT Startup Funding and Major Acquisitions in India
3. 50 IoT Startups in India
– Algo Engines
– Altiux Innovations
– Altizon Systems
– Azoi Inc.
(and 45 more)
For more information visit http://www.researchandmarkets.com/research/ffh8n8/50_iot_startups