IoT to reach $1.9 billion by 2020: Deloitte

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Internet of Things (IoT) units is expected to reach $ 1.9 billion by 2020 in India, said a report by Deloitte. Also, the market value of IoT is expected to reach $9 billion by 2020, the report said.

“With advances in reliability, accuracy and technology of advance tech measures such as biometric authentication, digitisation will gain popularity in various business applications,” the company said in a statement.

The report further added that mobile-based and digital payments will surpass physical card payments by 2020.

Deloitte also predicted that technology industry in India may witness an earlier arrival of 5G in India.

“This could be due to macro-economic factors, introduction of GST and other reforms. Demonetisation has hit the media industry hard. The companies had to limit their advertisement spends in the third quarter which is their peak advertising season. The effects of demonetisation may get carried forward to the next quarter as well,” the company noted.

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