Partners of the IoT marketplace include software developers, device manufacturers, system integrators and startups all of whom plan to use the platform to deploy, manage and market IoT solutions to accommodate for customers such as governments, private enterprises and startups. This will enable customers to choose from available offerings and in turn, use them on a plug and play basis.
Frost & Sullivan have forecasted the growth of the country’s IoT market to be at a CAGR of 35 per cent through 2023. However, they also found that some factors have inhibited the IoT market from further adoption. Some of these factors include a lack of standardization, connectivity and interoperability.
Head of IoT at Tata Communications, Alok Bardiya, stated, “We believe that this first-of-its kind initiative provides a missing link that will make a difference to how disparate IoT components are brought together to create a unified experience in designing a solution or ultimately purchasing one; thereby enabling customers to deploy these solutions with ease and achieve their strategic goals using IoT.”
He added, “There is lack of standardization, interoperability and connectivity in the available IoT technologies today. These factors, along with security concerns, tend to slow its adoption in the market. Our proposition in the IoT space gives us an opportunity to get a holistic view of the sector and bridge the current challenges faced in its adoption.”
Additionally, Tata Communications has been actively deploying a LPWAN network within the country in order to support India’s IoT ecosystem and has so far been rolled out in 45 cities.