The first edition of ‘IoT India Congress, 2016’ recently took place in Bengaluru, Karnataka. The three-day event was inaugurated by Union Information Technology (IT) and Electronics Minister Ravi Shankar Prasad and JS Deepak, Secretary, Ministry of Telecommunications.
Indian Minister for Electronics and IT Ravi Shankar Prasad, who gave a video address to the ‘IoT India Congress’, said that Internet of Things (IoT) was likely to generate economic benefits of almost $2 trillion to India. “We are sitting on the cusp of a big revolution”.
The IoT India Congress 2016 is one of the largest events of its kind in India and will bring together stakeholders from various facets of the IoT ecosystem. The congress aims to bring together key stakeholders across the value chain and verticals to collaborate, ideate and share a common roadmap for IoT implementation. It will bring the IoT practitioners (hardware-devices, portables, sensors, software, business) and IoT enablers (regulatory, training, investors in IoT, end users) to work together. Besides tech start-ups, the congress brought top executives from multinational companies such as Philips, GE, and IBM on one platform.
The congress will also host the prestigious IoT Thought Leadership Awards,2016 and the IoT Start-Up Awards,2016 to identify and celebrate prolific leaders and businesses that are giving an impetus to the substantially thriving sector of the Internet of Things.
IoT, also dubbed as the infrastructure of the information society, is the inter-networking of various computing devices, mechanical and digital machines, objects, or people, which are provided with unique identifiers, such as electronics, software, sensors and network connectivity. The inter-networking has ability to transfer data over a network without requiring human-to-human or human-to-computer interaction. IoT allows objects to be sensed and controlled remotely across existing network infrastructure. Thus creating several opportunities for more direct integration of physical world into computer-based systems, and resulting in improved accuracy, efficiency and economic benefits.
IoT is becoming quite trendy in India, according to a NASSCOM study, in five years, the global opportunity is likely to touch $300 billion and in comparison, India too would boast of a approximately $15 billion (around 5% of the global IoT market) in IoT.