Once upon a time, computers (huge, boxy ones) were the only devices that were connected to the internet (with a dial-up connection). Now, almost every device we own, from the smart-phone to Google glasses can search the web in the blink of an eye. Literally.
Here is an interesting statistic, by the year 2020, an approximate estimate of 20+ billion items will belong to the category of “the internet of things”.
The Internet of Things. What does that phrase mean?
In the year 2017, the spending towards IoT will grow by 17 percent. This means that customers are ready to pay for all and every IoT application.
Quite a large majority of startups are realizing this profit potential in the IoT market and are, therefore, building up their portfolios with new offerings and services. One of the biggest trends in the year 2017 has been industrial IoT-focused connectivity and security services as the industry begins to realize the enormous IoT chance in the manufacturing division.
Here are a few examples of start-ups that have introduced IoT in their company.
- CarIQ: Smart driving
Launched in the year 2012, this app is now available for an approximate of 6000 INR. This device records data such as mileage and speed as well as driving patterns. You can then share and compare with your friends as it is connected to a community of peers for his sole purpose.
Here is another statistic: we spend an average of 55 minutes a day looking for things. That’s about 5 days a year. So this functions as a sensor which can be applied to any small object, therefore returning those precious 55 minutes that you lost.
This start-up has sold about 10,000 units in 50 countries, to both customers as well as retailers. Quite an impressive feat.
Imagine not having to squint at the laptop screen while you’re watching a movie and instead can view the same on your large flatscreen. This is what this start-up has achieved. This device, (although not yet implemented in India), has the capability to synchronize all the content. And this means no more messy wire cables! An added bonus, the app for this device transforms your smartphone as a remote control device, making it easier to navigate.
And it is not just technology related. The IoT has spread to various other domains from healthcare to telecom and even the Ganga rejuvenation.
Bengaluru has emerged as the major target for IoT (Internet of Things) start-ups to set up their bases there, as it accounts for a grand total 52% of the total IoT start-ups in India. It is then followed by Delhi, Mumbai, Hyderabad, and Chennai.
All this accounts for an immense amount of talent, the thriving eco-system of investors as well as access to industry experts. This is what makes such start-ups s successful in India.