Global cellular IoT module shipments will hit 780 mn units in 2024 to reach $11.5 bn in revenue. India market will have the highest growth at 38%, said Counterpoint Research’s Global Cellular IoT Module and Chipset Forecast. NarrowBand-IoT will lead the cellular IoT module shipments by 2024, followed by 4G and 5G. North America will overtake Europe in 2024 to become the second-largest market after China.
SVKM’s NMIMS and LivNSense Technologies, an industrial IoT & AI platform, have signed an MoU to co-create an Artificial Intelligence Center of Excellence and Research, that will help develop AI-driven manufacturing solutions and create a culture of innovation and collaboration. The CoE work towards helping India’s manufacturing sector by making it more tech-driven and less dependent on new-age technology developed outside India.
Akamai will acquire Inverse to boost IoT security services for an undisclosed sum. The aim is to enhance its zero-trust portfolio and bring IoT security solutions by using Inverse’s data repository and algorithms that identify IoT devices like HVAC, lighting systems, medical equipment, robotics, printers. The acquisition will combine device Inverse’s fingerprint data repository and Akamai’s security data to achieve enhanced devices and workforce security.
Reliance Jio is in advanced talks with OEMs to launch its own IoT services. Teleco’s pan-India IoT network-based, launched in partnership with Samsung, is already operational. Jio, as per media reports, has developed a comprehensive solution with the device, diagnostics, connectivity, platform and support. Jio aims to connect a billion connected IoT devices to its platform, unlocking Rs 20,000 cr opportunity per year.
China will surpass US to become the world’s largest IoT market in 2024 as it is expected to reach around $300 bn, with the CAGR to stand at 13% in the next five years, data from IDC said. China’s IoT spending will account for 26.7% of the global market, followed by the USA (23.8 %) and western Europe (23.4%). Among the 20 industries covered in the report, manufacturing, govt and consumer IoT spending will account for 50% of the market spending.
The govt will announce Production Linked Incentive scheme for manufacturing of wearables, drones, VR/ AR and IoT products in India this year. At present, there is a demand for 2-3 bn IoT devices, which is expected to increase to 5 bn over the next two-three years. It is the government’s new initiative to boost manufacturing after the Rs 50,000-cr package to attract smartphone and component manufacturing firms to set up base here.
IT industry body NASSCOM along with Ministry of Electronics and Information Technology has launched a digital learning platform called the Future Skills Prime. The platform, launched with the aim to encourage remote and self-learning, will offer subsidised access to certified courses in 10 emerging technologies – AI, IoT, Big Data Analytics, RPA, Additive Manufacturing/3D Printing, Cloud Computing, Social & Mobile, Cyber Security, AR/VR and Blockchain.
Cognizant announced the acquisition of custom Industrial IoT solutions provider Bright Wolf for an undisclosed sum. The acquisition will help Cognizant to enhance its smart products offering and expertise in architecting and implementing IIoT solutions. It will now establish a new IoT innovation hub in the US, with the Bright Wolf team in its centre. Cognizant last month announced to acquire Cloud specialist 10th Magnitude, focused exclusively on the Microsoft Azure platform.
UK chipmaker Arm has partnered with Microsoft to create Azure-based tools to enable developers to transfer data from Arm-based IoT devices to Azure Cloud. This partnership will cover a broad range of Arm-based devices like intelligent computer vision-enabled cameras, connected vehicles, AI gateways and intelligent appliances. With over 30B active IoT devices in the world with 400% growth over the past 3 years, the industry is moving incredibly fast.