Enterprise IoT is booming, with many key players building IoT platforms for the enterprise tech sector. Covid has accelerated the need for automation among Indian businesses and the market demand for EIoT is high.
A large market has opened up for IoT platforms and solutions in the B2B segment. Businesses want their applications, factories, and utilities to be connected, and are on the lookout for platforms that can help them achieve this. EIoT is seeing a lot of innovation with multiple new players in the market, both small and big.
Enterprise Internet of Things (IoT): What does it bring to the table for Enterprise Tech?
Enterprise IoT is essentially technology that transforms traditional Enterprise operations into smart, independent entities by connecting infrastructure, mobility, utilities, etc. If you are a start-up, you can build enterprise IoT solutions to help other businesses improve their operations can leverage EIoT to build solutions that will help other businesses improve their operations.
Since IoT is currently very popular, the golden opportunity for start-ups is to resolve business challenges by offering Enterprise IoT solutions.
Start-ups leveraging Deep Technologies like Enterprise IoT are bringing disruption into the enterprise tech sector.
Benefits of Enterprise IoT for MSME’s:
Enterprise IoT comes under the umbrella of deep tech (a new-age class of advanced technologies).
Investors are interested in homegrown EIoT start-ups in India.
Businesses across multiple industries and sectors are adopting EIoT applications.
As an MSME, create IoT products that solve precise problems for enterprises to attract investments.
EIoT MSME’s can avail incremental risk capital.
How will the advancement impact the Enterprise Tech sector?
Start-ups leveraging Deep Technologies like EIoT are bringing disruption into the enterprise tech sector.
The advancements in technology are impacting the sector positively since investor interest is pouring in.
Multiple start-ups in EIoT are springing up which will subsequently lead to more new start-ups in this space.
There has been a rise of dedicated VC funds for start-ups specially in the Enterprise IoT space.
What’s in it for me?
Healthcare and Manufacturing are the two target industries for Enterprise Tech start-ups offering EIoT solutions.
Start-ups offering wearables, embedded computing, industrial internet products can expect to receive VC funding.
The Smart City project for various Indian cities will be heavily funded by state and central governments. EIoT start-ups will stand to gain immensely by bagging these projects.
The automotive, transportation, and logistics industries are also adopting eIoT solutions and are also potential markets for start-ups.
Enterprise tech start-ups offering innovative products and solutions in the EIoT space can expect investments from VC’s.
Big Indian telecom companies like Bharti Airtel, Vodafone’s Vi Business are already trying to capture the eIoT market based on the strength of their consumer base. Start-ups must be ready to compete with these big Indian telecom providers.