The global IoT semiconductor component market will grow at a CAGR of 19% from $33bn in 2020 to $80 bn in 2025 according to IoT analytics. IoT’s growing usage will force chipmakers to focus on typical necessities. Key customers include big data analytics, mobile communication, gaming, connected and semi-autonomous cars etc. The report added that the number of active IoT device connections grew from 3.6 bn in 2015 to 11.7 bn in 2020.
Birlasoft said it would adopt a platform-based strategy to offer a faster and outcome-based digital transformation solution to clients by investing in developing platforms for core industry processes. Revenue for the quarter ending December rose 5.7%, while profit jumped 32.6%. The first set of platforms will bring together the combined power of digital techs such as cloud, automation, IoT, edge computing, artificial intelligence, 5G and blockchain, said CEO Dharmendra Kapoor.
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.
Siemens has signed two separate MoU with IISc and CMTI, respectively, to establish digital transformation labs to enhance the expertise of researchers at IISc and technical skills of professionals in the machine tool industry. The MoUs will focus on the development of industrial IoT and Industry 4.0-enabled products and tech. The initiative aims to benefit research scholars, students and industry professionals in Bengaluru for a period of three years.
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.