The agreement is expected to be signed by the end of this month.Under the contract, both the telecom companies will use their respective IoT platforms and leveraging their respective market expertise.
Under the partnership, Verizon’s global customers will be able to deploy solutions on Airtel’s IoT platforms as and when they have requirements in India. Similarly, Airtel customers will have access to Verizon’s IoT platforms.
Airtel will also benefit by making use of Verizon’s large corporate customer base.
India’s IoT market size is expected to increase about seven times — from $1.3 billion in 2016 to $9 billion by 2020.
Airtel has already developed an in-house IoT platform, is also planning to use its upcoming innovation lab in Bengaluru, which also focuses data analytics, artificial intelligence and augmented reality and virtual reality. It has already started some IoT projects at its Manesar, Haryana center.
Airtel has already hired large teams for its several IoT-related projects. It already provides solutions like smart metering, asset tracking, equipment monitoring and traffic management solutions to enterprise customers.
Reliance Jio, the 4G entrant, has also begun offering enterprise solutions along with fiber-to-the-home on a trial basis in a few locations in the country.