In a hyper-connected India, Internet of Things (IoT) has the potential to reach an estimated 2 billion connections, unlocking revenues of $11.1 billion by 2022, according to a new report.
“Fast forward to India 2022, 5 new mobile connections per second are estimated to join the power of internet. Nearly 50 per cent of the households are likely to be connected through fixed broadband,” said the joint study by Assocham-EY.
Connectivity will move beyond people to connect billions of devices, vehicles, household appliances and machines, the study said estimating that in a hyper-connected India, the Internet of Things (IoT) has the potential to reach 2 billion connections, and unlock revenues of $11.1 billion by 2022.
The joint report highlights that while India holds a huge potential, this promising market currently lags behind the US, China and South Korea in connectivity via optical fibre.
Fiberisation of towers is critical in India, it said, adding that only 25 per cent of telecom towers in India carry optical fibre whereas the corresponding share in the US, China and Korea is about 65-80 per cent.