Viswanath S has more than 25 years of executive and general management experience at TE. He currently serves as the Finance Director for India and has executive responsibility for TE’s India Shared Service Center and India Engineering Network. He was previously business head for TE’s Transportation Segment in India where he showcased significant management skills and led close interactions with OEMs and other key customers.
Digital solutions and cutting-edge technology have been playing a key role in shaping our personal lives for the past few years. From entertainment to personal healthcare, there has been proliferation of Artificial Intelligence and Machine Learning across plethora of electronic products, enabling new experiences for consumers.
We have also witnessed the rise of Internet of Things (IoT) with adoption of smart applications, internet penetration, industrial automation and government initiatives like smart city projects. As per Frost & Sullivan, the India IoT market is expected to reach US$ 9,28 billion by 2025 .
Looking forward in 2022, some of the factors that will contribute to the rise of IoT:
Advent of 5G: The telecom industry will play a pivotal role in the rise of IoT, noticeably with the adoption of 5G services. 5G will propel the next generation of wireless technology benefitting varied industries. The manufacturing ecosystem which is already moving towards smart digital factories stands to benefit from 5G services with its reliable ultra-low latency communication services. Manufacturers will now be able to work more efficiently with services like automated shop floors, VR based trainings to more interconnected and integrated facilities.
Role in healthcare industries: In a post pandemic scenario, the healthcare industry is working on a mission mode to adopt digital solutions. This is primarily being done to upgrade healthcare delivery infrastructure keeping in mind patients, clinicians and healthcare workers. Adoption of IoT can make the healthcare industry more integrated and efficient and will usher in a new era in patient care from remote monitoring of health conditions, real time access to health data, preventive healthcare solutions to the use of Electronic Health Records (EHR).
Connected home and appliances: IoT adoption will also rise as homeowners shift towards 360 degree connected home experiences. From lighting fixtures that help reduce carbon emissions to devices being controlled through voice commands, innovative new products are changing the way people interact with their most personal spaces. In the future, every room of our home will have IoT enables connected devices and appliances that will play a critical in operational adjustments of our living spaces.
By capitalizing on these trends, there is a huge scope for growth in IoT led products and services. Robotization of tasks, designing and building ecosystems that connect wearables to interactive digital networks, and designing and building systems that connect wearables to immersive online networks, will provide an immense boost to the IoT industry.