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Tata Communications, a leading digital infrastructure provider launched its Internet of Things (IoT) marketplace – a first-of-its-kind initiative in India to provide practitioners and enterprise customers with new opportunities in the market.
The marketplace aims at bringing different partners from device manufacturers, software developers to start-ups and system integrators under one roof to deploy and manage IoT solutions. The complete solution-set will be offered by Tata Communications and the partners in the ecosystem – supported by Tata Communications’ pan-India infrastructure and platform.
Frost & Sullivan presumes that the enterprise IoT market in India is expected to grow at a CAGR of 35% through 2023, quadrupling the market by then.
The IoT marketplace will allow diverse customers from government or public sectors to choose from a range of offerings and services on a plug and play model, enabling them to leverage IoT solutions to address their custom requirements.
The company mentioned that Indian enterprises have not been able to fully take advantage of the opportunities presented by IoT and that there is a lack of standardization, interoperability, and connectivity in the IoT market.
“By bringing together best-of-breed IoT players on one online B2B marketplace, we are breaking new ground in the journey to unlock the power of IoT in India”, says Alok Bardiya, head – Internet of Things (Business Unit), Tata Communications.
Tata Communications has an LPWAN-based IoT network. The company expanded its network in 45 cities so far, with more cities planned for implementation by the year 2021.
The Indian IoT market is expected to grow to $15 billion with 2.7 billion units by 2020 from the current $5.6 billion and 200 million connected units, according to a Nasscom-Deloitte joint report. The industrial applications of IoT, primarily in manufacturing, automotive and transportation, and logistics, are expected to drive IoT revenues by 2020 in India, the report said.