Exclusive: India ranked 16 in IDC Internet of Things (IoT) Index

IDC Internet of Things (IoT) Index has ranked India, the second largest telecom market based on mobile users, at the 16 position.

The market research agency expects the IoT technology and services halo effect on business to generate global revenue from $4.8 trillion in 2012 to $8.9 trillion by 2020, growing at a 7.9 percent CAGR.

According to IDC Internet of Things (IoT) Index called G20 Index, the United States and South Korea are the number 1 and number 2 most-prepared countries for IoT, respectively. IDC is yet to share ranking of other countries. The European Union is counted as one entity in the G20; hence, only 19 countries are identified and measured in IDC G20.

Interestingly, India is far behind the U.S., and South Korea. Telecoms in both South Korea and the U.S. are aggressively rolling out 4G / LTE services.

“The opportunity for vendors from India to seize opportunities in the top tier G20 countries with services, analytics and applications specific to IoT is the real story for the country, in addition to the evolving efforts it can place on becoming prepared for the IoT world,” Denise Lund, research director – Mobile Enterprise Services and M2M, IDC, told TelecomLead.com.

India ranked 4 in IDC Internet of Things (IoT) Index

The ranking of G20 countries is based on suitability preparedness for the IoT opportunity that helps vendors by creating a weighted, single, ordered point of guidance for vendors looking to globalize IoT.

The market potential from the increasing adoption of Internet of Things solutions is not a regional phenomenon.

Networking company Cisco is betting big on Internet of Things. Recently Cisco Systems CEO John Chambers said the IT infrastructure in its first generation focused on the hardware. The next generation of virtualization and cloud gave IT the operational flexibility to focus less on hardware and more on results and performance. With the application economy, the focus will be on supporting a huge number of applications on all these connected devices.

The market research agency said the opportunity is calling for vendors in the IoT ecosystem to first and foremost innovate and implement solutions that yield operational efficiencies in the top-tier countries.

The IDC G20 Index says the top five countries collectively astound with their share of investment in key technologies and energy consumption. These countries are at the intersection of need for the efficiencies that IoT solutions bring and are more likely to have the mindset for and availability of technologies that align and intersect with IoT use cases.

Baburajan K
[email protected]