How IoT And M2m Technologies Are Reshaping The B2b Landscape In India

- Vishal Barapatre

Internet of Things (IoT) is making deep inroads into the B2B space and a majority of enterprises in India have subsequently increased their IoT spending over past couple of years. The IoT market in India is expected to grow to $15 billion by 2020 from $5.6 billion this year. IoT is a next-generation technology which has gained huge traction in recent times due to its powerful nature to connect enterprises with their employees, clients, and customers in a seamless manner.

The highly innovative applications of B2B IoT are spanning across various diversified sectors of the Indian economy, including manufacturing, automotive, healthcare, energy, agriculture, transportation and logistics, supply chain management, retail, smart cities, BFSI, among many others. IoT and M2M (Machine to Machine) technologies have a lot to offer in the B2C segment that will help companies develop a customer centric business model. However, B2B adoption of IoT technology is poised to take off more rapidly as B2B businesses are leveraging IoT to enhance the operational efficiency and in turn productivity, lower the CAPEX and OPEX, and to improve the decision-making process in order to ensure results-driven growth.