IoT growth rate to accelerate after 2020: report
New Delhi: Home automation is poised to become the next big thing in India with consumers increasingly opting for video door bells, voice-assisted technologies (like Alexa and Google Home), smart bulbs and surveillance systems.
This growth comes on the back of increasing adoption of the internet of things (IoT) by Indian consumers owing to increasing internet penetration, rising smartphone usage and expanding social networks, said a report published by social media agency WATConsult, a part of Dentsu Aegis Network.
IoT refers to a technology that connects sensors and devices to the Internet, collects their data and automates processes and decision-making.
The IoT market in India is currently growing at a compounded annual growth rate (CAGR) of 41% and will continue to grow at the same rate till 2020. Read more…