You are here
Peering the Future: IoT + Smart Devices driving Analytics and Big Data for Sustainability
Sustainability Outlook recently released a market brief which profiles the use cases and outlines the market opportunity for the Internet of Things (IoT) and Big Data in the sustainability domain.
IoT + Smart Devices driving Analytics and Big Data for Sustainability market brief was released at the session on Sustainability through big data and analytics: Market Opportunity and Outlook for 2016 at Sustainable Business Leadership Forum on October 15th in New Delhi. At a session organized by Sustainability Outlook, Mr. K.C. Mehra, Ex. Chairman, SKF India Ltd. was session chair and moderated the discussion on usage of information technology in sustainable development. Panelists included Shekhar Sanyal, Director & Country, Head- India, IET; Rishi Mohan Bhatnagar, VP – Digital Enterprise Services, Tech Mahindra; Durjoy Patrabanish, SVP & Business Leader – Analytics, Blue Ocean Market Intelligence, Satish Kashyap, Director, Algo Engines.
The drivers for increasing proliferation of IoT and fueling the rapid growth of smart devices in last few years include both supply side drivers such as decreasing cost of sensors and bandwidth cost as well as demand side drivers including Increasing resource costs, increasing product variety in a number of industries; emerging legislation and policy mandates in several industrial sectors that are requiring tracking and reporting and new infrastructure in a variety of sectors.
While IoT is set to become the next big backbone of local and global communication with its reach in different verticals it also carries with it a massive potential become a key driver for sustainability- cutting across all verticals.
The brief outlines the current areas of applicability for IoT and big data analytics in promoting sustainability such as optimizing utilities performance, facilities optimization, driving consumer response to reduce resources and optimizing equipment maintenance and up-time and illustrates suitable use cases from Indian context.
The brief also maps the emerging solution providers which are shaping the space and also creates a sustainability impact map for these players. Most of them either work in the domain of Smart Buildings or Machine to Machine Communication.
Based on the mapping of solution providers and the drivers Sustainability Outlook predicts that shop floor analytics tools track and trace systems, consumer driven smart applications, smart cities and utility performance improvement will emerge as the key areas where we will see most action in next few years. The study estimates that India will contribute to about 5-6% of global IoT market or US$ 15-20 billion by year 2020.
Sustainability Outlook is working in the IoT and big data analytics domain to unearth innovation solutions and their applicability in Indian industry as well as in domestic and commercial sectors and creating collaborative models to help catalyze their use and facilitate adoption of sustainable practices. The market brief on IoT driving Analytics and Big Data for Sustainability is available at http://sustainabilityoutlook.in/content/peering-future-iot-smart-devices-driving-analytics-and-big-data-sustainability-755115
About Sustainability Outlook
Sustainability Outlook, a division of cKinetics, is a market intelligence, discovery and collaboration platform facilitating sustainability linked actions amongst businesses, policy makers and investors. Sustainability Outlook actively tracks and provides market insights in resource management with focus on policy, technology and finance to work towards creating closed loop systems. Solutions offered by Sustainability Outlook include State of Sector Reports, Market development platforms, tools and frameworks for enabling and promoting resource sustainability within the industry, Regulatory and policy analysis and Resource inventorization studies amongst others. To know more, please visit http://sustainabilityoutlook.in