Business Guide | Israel-India 2022

T he fourth industrial revolution is happening right in front of our eyes: manufacturers are adopting innovative tools and cloud applications in order to stay competitive. At the same time, consumer products are becoming more and more inter-connected, and remotely controlled. These two trends emerge from the same technology called IoT (Internet of Things). It encompasses the connection of every tool and device, domestic or industrial, from innovative sensors to dedicated platforms and new devices. When your phone can send orders to your air-conditioning system, this is IoT. IoTMarket in India is Growing Exponentially India is of course no stranger to this innovativemarket trend and is considered a hotspot for IoT deployments: the Indian IoT sector is expected to expand at a compound annual rate of 13 . 2 % from 2020 to 2025 . The Indian IoT market is expected to reach USD 9 . 28 billion by 2025 from USD 4 . 98 billion in 2020 , driven mostly by changes in enterprise behaviour triggered by the COVID- 19 Pandemic. There were 1 . 9 billion IoT devices in India in 2019 - 2021 and this figure is growing constantly. Five key segments are contributing to the overall IoT market demand in India: large enterprises, global capability centers (GCCs), small-mediumbusinesses (SMBs), consumers, and the Government. Some of the predicted future growth in the country is related to IoT uses in Indian industry, for example, in the industrial constructionarea, but also in retail, healthcare, and transport & logistics. Another catalizator is the rapid advancement inwireless technology, coupledwith the increasing need for conditionmonitoring in industries all over the country. In the industrial segment, sectors like med-tech, power and core manufacturing will leverage IoT use in supply chainmonitoring and asset maintenance, to drive IoT adoption. India also benefits from being a kind of global manufacturing hub, as companies look to diversify their supply chains amid the Covid- 19 Pandemic. Nowadays, in order to enlarge the local IoT market, increased efforts will be put into strengthening infrastructure and improving the solutions and aid provided by the various actors in the industry. Further, in order to bring in high technology and fast Internet of Things is here to Stay How Israel-India Cooperation in the Field can be a Gamechanger Israel-India > Business Guide > 2022 66 > IoT & Innovation > Review