Rishu Sharma, Associate Research Manager, IDC India, briefs Amit Singh on the awareness and customer expectations around IoT and edge computing in India and how has it become a top priority of CIOs
How do you see IoT market progressing in India? What are the trends you see in this market?
As enterprises move on their digital transformation journey, IoT is considered as a key enabler leveraging the 3rd Platform technologies. Almost 1/3 of the enterprises believe that IoT has helped them shift new product or service areas to generate additional revenues.
IoT is impacting the way organizations are working to get more competitive with products and services and also helps them in reducing costs. We are seeing trends in the edge infrastructure, blockchain, and cognitive/AI. IoT security is also driving additional investments by the enterprises.
How large is the IoT and edge computing market in India? What are the factors driving the growth of IoT and edge computing in India?
According to IDC’s Worldwide Semi-annual Internet of Things Spending Guide, the India IoT market stood at $21.7 billion in 2017, which includes the hardware, software, services and connectivity components.
For organizations moving on to the digital transformation journey, cloud and IoT are being considered as top enablers. IoT exerts a massive influence on digital transformation primarily by leveraging the four pillars of industry transformation enabled by the rise of the 3rd Platform —big data, cloud, social, and mobile.
What are the customer expectations and awareness around IoT and edge computing in India?
Over 3/5th of the enterprises in India have already deployed IoT in some form or the other. CXOs are realizing IoT’s business value with 100 percent awareness and aggressive plans to deploy over the next 24 months.
The intent to link digital technologies with operations, organizational processes, and business models, allowing businesses to operate more efficiently while reducing costs and increasing customer satisfaction through improved quality of products and services and via new ways to engage with customers, is driving IoT decisions.
In fact, vendors should look at building vertical use cases, considering 90 percent of IoT platform decision-making will happen between the next 6-18 months.
Please elaborate on the savings and RoI around IoT and edge computing solutions.
As per IDC’s Global IoT Decision Maker Survey 2017, businesses in India consider improving business productivity, productivity for customers and reducing operational costs as top influencing factors for adopting IoT.
Business-led funding, where the business and IT are equally involved and work together on the project, drives the maximum of the funding decisions pertaining to IoT.
Verticals like manufacturing are experiencing a reduction in cost and quality enhancements by deploying tablets, electronic displays, M2M, RFID, and barcode in their processes.