Revenue from IoT implementation in India for manufacturing will be close to US $ 4 billion by 2020, growth at a CAGR of 20 percent, latest forecast from IDC showed.
The technology research agency said IoT today is at a level of maturity in India where innovative use cases have been implemented in certain pockets resulting in significant business impact.
“Successful implementation of IoT projects will be subject to awareness and choice of appropriate partner based on well-defined evaluation parameters for their end-to-end management,” said Ramachandran S, Principal Research Manager, IDC Manufacturing Insights Asia/Pacific.
He also stated that the onus of technology perspective and their management will be on partners.
“This will help manufacturing enterprises to focus on the core areas of IoT in bundling them with their product and services portfolio and in rolling out profitable business models.”
IDC noted that IoT implementation carries complexity with multiple systems that need to be integrated. And no single player can offer expertise in all areas.
Therefore, the choice of partners is as important as the selection of specific operational technologies.
System Integrators with their growing investments in IoT will be key stakeholders who will manage end-to-end execution bringing together multiple players and their own expertise.
For instance, organizations like Wipro, Infosys and Cognizant have identified IoT as a top theme for growth while some are setting up IoT test beds in collaboration with the Industrial Internet Consortium Others have “Digital Works” team to provide a comprehensive digital experience to customers from conceptualizing to implementing projects in the IoT foundry.