IoT to Reach an Estimated Two Billion Connections Unlocking Revenues of $11.1 Billion by 2022: Report

In a hyper-connected India, Internet of Things has the potential to reach an estimated 2 billion connections, unlocking revenues of USD 11.1 billion by 2022, according to a new report. “Fast forward to India 2022, five new mobile connections per second are estimated to join the power of the internet. Nearly 50% of the households are likely to be connected through fixed broadband,” said the joint study by Assocham-EY. Connectivity will move beyond people to connect billions of devices, vehicles, household appliances and machines, the study said estimating that in a hyper-connected India, the Internet of Things (IoT) has the potential to reach two billion connections, and unlock revenues of USD 11.1 billion by 2022.

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The joint report highlights that while India holds huge potential, this promising market currently lags behind the US, China and South Korea in connectivity via optical fibre. Fiberisation of towers is critical in India, it said, adding that only 25% of telecom towers in India carry optical fibre whereas the corresponding share in the US, China and Korea are about 65-80%.

Nearly 60% of the towers will need to be fiberised by 2022, as outlined in the National Digital Communications Policy (NDCP) 2018, notes the study titled ‘Propelling India to a trillion dollar digital economy’.

As demand for 4G and subsequently 5G grows, networks will become “denser and deeper” making fiberisation an imperative, it said. “The emergence of new technologies is set to multiply the consumption of data, necessitating the need for installing more towers. Additionally, 1,00,000 telecom towers will be required to meet the growing demand for data across the country,” it further added, as reported by PTI.