Nasscom signs MoU with Japan's ITAC to accelerate IoT ecosystem
The IoT market in India is expected to reach $15 billion by 2020 accounting for nearly 5% of the total global market
The National Association of Software and Services Companies (NASSCOM) has signed an MoU with the Internet of Things (IoT) Acceleration Consortium (ITAC) - Japan. The MoU will see both Nasscom and ITAC, collaborating to address digital technology shifts and accelerate IoT adoption at a global level across the industry.
The organisations will collaborate for various activities like exchanging statistics and dynamic practices related to the respective IoT industries and will look at facilitating exchange programs for association members. Further, both Nasscom and ITAC will share information on the ecosystem, new practices and technological developments.
K S Viswanathan, Vice President - Industry Initiatives, Nasscom said, “IoT can be termed as the fourth wave of industrial revolution and in India it has the potential to penetrate across businesses horizontals, encompassing services and manufacturing. It is imperative that there is global effort towards accelerating IoT in every sector, this partnership will be an another key milestone in building this robust ecosystem of collaboration and open new avenues.”
The IoT market in India is expected to reach $15 billion by 2020 accounting for nearly 5% of the total global market and the worldwide IoT market is poised to be a $328 billion market by 2020.
Emerging trends in digitalisation aim to bring about innovations in the industry and in order to allow a fast acceptance of the IoT, imperative matters like identification, confidentiality and security need to be undertaken.
As part of its continued efforts in the domain, Nasscom had also inaugurated the Internet of Things (CoE- IoT) at the Nasscom Startups Warehouse in Bengaluru. The centre was inaugurated by Ravi Shankar Prasad, Union Minister for Law, Government of India and aims to focus on leveraging IT strengths and creating a new age industry with the support of IoT based ideas.