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Business EconomyPosted at: Oct 5 2016 3:04PM


NASSCOM holds Design and Engineering Summit

Bengaluru, Oct 5 (UNI) Focusing on the rise and evolution of the
Internet of Things (IoT) across industries in India, the National
Association of Software and Services Companies (NASSCOM) today
kick-started the 8th edition of NASSCOM Design and Engineering
Summit at The Leela Palace, Bengaluru.
The two-day event focusing on the theme of, 'Imagineering for the
Digital Future' analyses the role that IoT will play in creating
digital utilities especially in the areas of design and engineering
that will drive the growth of future technologies in the country.
Expressing his thoughts on the upturn of applied IoT in India,
Mr. Kevin Ashton, Inventor of the Internet of Things and Author,
said ''IoT has started being incorporated into both consumer and
industrial applications. It was being utilised in critical verticals
like Healthcare, Automotive and Manufacturing. The ecosystem is
rapidly expanding, owing to demand for both Industrial and Consumer
IoT applications and is set to be a critical part of the next level
of growth for the IT industry.''
On the side-lines of the summit, NASSCOM in collaboration with
Deloitte also launched a report on ‘IoT 'Revolution in the Making'.
The report lays emphasis on the growth of Internet of Things, as
not just creating consumer solutions but also adding value in
industrial applications.
Reiterating the need for innovative solutions, the report states
that the IoT segment is expected to grow across industries, with
Utilities, Manufacturing, Automotive and Transportation and
Logistics providing greater opportunities for development, compared
to other sectors.
Speaking of the focus of IoT in the Design and Engineering
industry Mr. R Chandrasekhar, President, NASSCOM, said, IoT as a
concept is set to become a major differentiator in driving the next
generation of services and products.
''In India, while the industry is at a nascent stage industrial
applications of IoT primarily in manufacturing, automotive and
transportation and logistics are expected to drive IoT revenues by
2020,'' he said.
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