IOT as a disruptive technology surely going to play a big role in the enterprise transformation towards digitization and India is part of this wave as well. EnterpriseIT World spoke to Sunil Paul, Co-Founder & COO, Finesse to know about the role of the ISVs and SP in the entire scheme of things. Excerpts…
As a solution provider, how do you see the IOT opportunity in India?
Goldman Sachs predicts that India – comprising 15% of the world population, with a growth rate of 7 to 8%, could be the second largest economy by 2030. The Department of Electronics & Information Technology of India published Internet of Things policy estimating IoT industry in India to grow up to INR 940 billion, by 2020. Focus areas include agriculture, health, water quality, natural disasters, transportation, security, automobile, supply chain management, smart cities, automated metering and monitoring of utilities, waste management, oil and gas. Consumer electronics, BFSI, home & building, energy & utilities, retail, supply chain & logistic sectors, and manufacturing are the key emerging application areas where IoT technology is majorly being adopted.
According to ‘India Internet of Things (IoT) Market Forecast & Opportunities, 2020’, IoT market in India is projected to grow at a CAGR over 28% during 2015 – 2020. IoT is being rapidly brought into use across diverse industry verticals to reduce operational and manpower costs, and increase operational efficiency. However, India’s IoT market is highly fragmented with numerous players operating across the value chain.
We see that the Internet of Things (IoT) presents a massive opportunity to Indian and other IT services providers with recent trends promising that IoT will be the next wave of technology taking over the world and soon IoT will make for hefty IT services revenues for India’s IT sector.
What is Finesse strength in IoT integration?
Finesse has always been the pioneers in bringing innovative solutions, and the IoT space is no different. We have been investing heavily in learning, development and testing, and working closely with our partners to deliver IoT solutions for our clients. We will be leveraging on our existing expertise in Business Intelligence, Big Data analytics and enterprise information management for delivering meaningful insights.
Finesse together with our partners is all set to play a lead role as the IoT domain is fast taking shape. Finesse will leverage on our experience in Infrastructure Management, Networking and on Application Integration to come out with effective business solutions.
Looking at the growth in IoT, the security challenges are many, what are the best ways to keep the entire system safe.
The increasing trend in the adoption of mobile, cloud, social and IoTs increases the risk of information leakages. Enterprises have no option but to adapt and increasingly use new security technologies in the coming years. This adds to the existing challenges being faced by enterprises primarily in maintaining the skills to adapt new technologies. Therefore, they will surely turn to solution providers and system integrators. These will create new opportunities for SIs and solution providers like Finesse as we understand security threats better through the use of contextual information and intelligence tools. By deploying right solutions and the right skill sets enterprises can be relieved from the challenges of information security threats.
What all steps the CIOs to take to have right IOT strategy?
With hundreds of exabytes of data that is expected to get generated, another challenge is of Data explosion. If this data cannot be stored, processed and analysed adequately for actionable insights, it totally beats the purpose. We are experiencing data influx in today’s scenario itself that stems only from a few devices. With just about ‘everything’ being connected in the near future will require analytics of data is of utmost importance. With disparate devices being connected, Standardization of connectivity, extraction and transmission of data, data cleansing, warehousing, security and data analytics are a few things to be considered at the top of their IoT strategy.
What are the challenges CIOs should take notice of?
While IoT opens up new terrains, there are many road blocks which can be expected. Apart from conceptualising, creating and maintaining a seamless ecosystem of interconnected devices, infrastructure required to transmit, receive, host, store and integrate the data is not going to be an easy task. Readiness and cost-effectiveness of the telecommunications as we start transmitting information from all facets of life will be a concern.
