The 6th Annual IoT Innovation Conclave & Exhibition 2017 ended on a high note with 300+ participants being ecstatic about the future of IoT technology in India. Organized by Konnect Worldwide Business Media Pvt. Ltd., this was the sixth edition of this highly successful event.
Deloitte TMT Predictions 2017 projects that the market for IoT in India is expected to grow from $1.3 billion in 2017 to USD nine billion by 2020. The global market on the other hand is expected to touch USD 300 billion in next five years. Relative to the rest of the world software is the brain and India powers it.
According to the industry estimates, by 2020 the highest adoption of IoT in India will be seen in industries such as utilities, manufacturing, automotive and commercial telematics, transportation and logistics. In addition to this, the Government has pledged to invest USD 1 billion for 100 smart cities over the next five years will be a key enabler for IoT adoption. This provides a huge opportunity to IoT players in India but there is a big challenge in terms of offering India-centric solutions and understanding how to fuel the growth of IoT business in this market.
This conclave provided a great opportunity to the key stakeholders to come under one roof, showcase the latest tech innovations and deliberate on the way forward.
"We are delighted to be a part of the IoT Innovation India Conclave & Exhibition 2017. At Mahindra World City (MWC), we believe that thoughtfully planned industrial infrastructure combined with technology innovation can add significant value to the industrial clients and professionals working and residing at well planned cities of future. IoT can be an enabler of improved quality of life and can go a long way in creating smart and resilient cities of the future. MWCs have been at the vanguard of such implementations of various smart technology initiatives such as Smart Street Lighting, Parking, Waste Management, Integrated Building Energy Management System, Smart Metering, Integrated Security and Surveillance etc," said business head Mahindra World City (MWC), Jaipur, Sanjay Srivastava.
Kuldeep Malik, Country Head Corporate Sales International, Mediatek said, "Our platforms have been powering IoT devices in India for decades now". We have been focusing on making our chipsets smaller, more connected and power-efficient. Conclaves likes these offer us a great platform to showcase what all we have been doing and also an opportunity to review market dynamics. We believe IoT Innovation India Conclave offers a great platform to exchange ideas and work together towards a more connected society."
Buoyed by the response to the event, organizers are contemplating making this a multi-city event. Rahul Sindhwani, Founder CEO, Konnect said, "We are extremely grateful to all our partners and attendees that helped in making the IoT Innovation India Conclave & Exhibition 2017 a huge success. It has been our endeavor to make this event bigger and better than before and it gives us huge satisfaction to be able to achieve this goal. We believe that this year's event provided all participants an ideal platform to discover India specific innovative applications and usages along with a great networking forum."
Aman Khanna, Founder Director, Konnect reiterated - The intent of the event is to create a conducive environment for all the technology players in IoT space in India to come together, interact and lay the foundation of future. The IoT conclave provided a valuable opportunity to the key players to discover India specific innovative applications & usages. It also helped them in analyzing the market trends and dynamics and to mold their business strategies of IoT adoption in India in accordance to the same.
IoT Innovation Conclave has been bringing together experts, leaders, innovators, and startups in IoT under one roof since last five years. This year's event was a great success and included keynote speeches by CXOs of leading IoT technology players. The interactive format of the event allowed attendees to talk to the leaders on 1-to-1 basis.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)