Startups Democratizing IoT

CIOReviewIndia Team | Wednesday, 24 June 2020, 01:50 IST

Advent of technologies like 5G along with affordability of sensors is setting the stage for IoT to be an integral part of our daily lives. It is making its presence felt in several areas of industry and daily life in general by connecting devices and networks. According to a report by PricewaterhouseCoopers, IoT is bringing more and more devices and infrastructure under the digital purview, and it is set to become a multi-trillion dollar industry in the times to come. One of the major industries where it is making a massive impact is healthcare. Monitoring patients remotely is is a primary area of application of IoT in healthcare. Wearable devices with sensors can be used to keep track of the patients’ vitals and overall health. A hospital can also leverage IoT to transform and optimize its daily operations. IoT has the potential to give a complete makeover to medical equipment management. Working in unison with mobiles, IoT based devices can also help in prevention of diseases.

Another sector that is seeing a rapid surge in proliferation of IoT devices is manufacturing industry. IoT is helping manufacturers enhance their operational procedures and transform their business processes. IoT has proved to be fruitful in ironing out the shortcomings in the workflow and making it smooth. Industrial IoT is helping manufacturers redefine their production maintenance and inventory management while incorporating big data analytics in their operational systems. Startups are contributing in a big way to IoT market evolution in India. And to help them achieve their goal, there are several players lending a helping hand with their IoT expertise. This is causing an accelerated growth of a thriving and prosperous ecosystem of investors and incubators, which in turn is taking the IoT maturity of India market to the next level. Buttressed by this, startups are eager more than ever to leverage any launch pad and showcase their potential to reach new heights of excellence.    

Sanjeev Malhotra, Head, NASSCOM CoE says, “IoT will have a lot of applications and in pretty much every sector. Healthcare is one vertical where we believe a lot of solutions can be generated that will provide access to healthcare to the deprived areas of the country, or where we lack facilities. The second one is Industry 4.0, also called smart manufacturing, where there is a lot of scope for improving the efficiencies, whether it is on the shop floor where the machines are running and you have to detect and predict the failures or giving indication of how to improve the efficiencies through the data they collect.”

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