With huge opportunities to offer, IoT set to create a truly ‘connected’ world!

##Having missed the previous Information Technology wave, is India ready to make it count this time?

The opportunity is huge and real. As shown in the figure below, analyst firm Gartner expects as many 26 billion smart units (phones, TVs, tablets, sensors, motion sensors, and other smart devices like connected cars and wearables like smart-watches etc.) to be connected through the IoT. The IoT products and services are expected to generate $300 billion in revenues and create $1.9 trillion in value as shown in the figure below. The volume is in tens of billions of units and value is in trillions of dollars.

######Source: Gartner, Forecast: The Internet of Things, Worldwide, 2013

From the looks of it, people will need a fire wall / water wall / unified antivirus to protect all their devices. May be our software companies can develop such a product…

Great point. data security and privacy is a huge problem and opportunity with IoT. Tremendous opportunities to create a software security product.

IoT offers huge opportunity, billions of units and trillions of dollars.

Another point to the brilliant write up. We not only stay connected with smart units but also eventually exchange and collect data from our day-to-day smart devices & wearable’s. What I understand is that, the IoT is far bigger than anyone could imagine. Correct me if I’m wrong!

Absolutely

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IOT will take off only when innovators across multiple domains can collaborate beyond the borders of traditional mindsets. I am not sure how this is going to get enabled. Wouldn’t somebody need to take the lead in creating common tech protocols that everyone has to adhere to?

True. One of the bigger challenges is to have to have an environment that is seamless. In IoT, the natural progression will follow the same course as most manufacturing industries. A prominent set of protocols will first materialize based on ease of adoption and numbers. The key contributor will be systems that have a level of transparency that allows developers to bring out the power of even proprietary platforms.

When the need exists, the open community also responds. Another approach is the use of an interim level or platform that acts as a go between for different standards. As devices proliferate the way they communicate will be decided by the users and the information they want to retain or use.

A healthy system is one that is flexible enough to incorporate changes based on requirement. In the Smartron ecosystem, the same principle applies to ensure we look at multiple approaches to solve a problem.