The digitisation push by the government could act as a catalyst towards the growth of Internet of Things (IoT), say experts. IoT is critical for the services and manufacturing sectors which face challenges in terms of maintaining customer relationship, increased competition and commoditisation.
It is fuelled by the advancement of digital technologies, as well as dramatically changing the way companies engage in business activities and how people interact with their environment.
According to Nasscom, theIndian industry crossed the $100-billion mark in 2012 and could touch $300 billion by 2020. “The role of IoT in business is shifting from an enabler to a strategic partner,” said Raman Roy, chairman, Nasscom.
Further, the digital payment offerings of the future need to combine the simplicity and universality of cash with the security and convenience offered by digital payments as highlighted by a recent Google-BCG report.
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