The astonishing boom in start-ups in the M2M and IoT space in India is very fascinatinganddefinitelyhighlights the untapped potential that exists with USD 15 billion domestic market in India. IoTs potential to connect anything anywhere and manage physical objects in the digital world with the help of remote connectivity, real-time monitoring, control and management has led to development of advanced applications which can save lives of many in trying situations and make sustainable, environment friendly life style, a reality.
Some of the major areas where I see plethora of opportunities for start-ups to contribute meaningfully include
- Smart cities for sustainable urban growth and development and natural resource utilization
- Manufacturing for productivity enhancements to cost savings and zero errors with least human interventions, especially where working conditions can be hazardous to human life such as mining, nuclear power plants etc.
- Heath care- IOT a promising technology not only for providing primary healthcare facilities to the remotest corners of India, but also wellness with proactive monitoring and preventive care than curative care.
- Agriculture- Even after 69 years of independence, we are still predominantly dependent on monsoons and the sector is so much debt ridden that farmers are committing suicide. With IoT technology, real time feeds can be made available not only on weather but also irrigation requirement as per climate and soil type, crop yields, pesticide control, and even the market rates for commodities and more. Farmers would not only be better equipped to manage their crops but also have clear understanding on what and how much to produce and where to sell.
- Transport and Automotive- Traffic congestions, road rage and accidents can be controlled and reduced with autonomous vehicles. Cities can offer multimodal transportation with IoT adoption for a better quality of life for its dwellers.