- IoT has been projected as the next technology wave that will enable billion of devices to be connected to the internet, with IoT global market revenue reaching US$ 1.1 trillion by 2025.
- Smartiply’s IoT solution enables data for security and surveillance to be continuously streamed from remote locations to a central place for real-time monitoring.
To provide large computing power that networks an entire platform, solutions need to be deployed through system integrators for logistics and warehousing, smart cities, and fintech.
With this aim, the IoT startup Smartiply has decided to establish such solutions in India.
Fog computing at the forefront
Smartiply works on the principle of fog computing. According to Kaushik Pillalamarri, CEO, fog computing is the infrastructure that provides seamless connectivity where data, compute, storage, and applications are located somewhere between the data source and the cloud.
For example, ATMs that are placed in a wide geography require to be kept a tab upon. This is difficult as not all locations have broadband access. This increases the dependency on cellular networks which might create connectivity issues for other devices. This would essentially mean that any company, which is servicing in distant locations, has to rely on multiple telecom operators to run continuously in case there is some connectivity issue with one. Now with Smartiply, any company can optimise these resources.
According to IDC, global IoT connections are expected to increase at a Compound Annual Growth Rate (CAGR) of 17 percent from 7 billion to 25 billion from 2017 to 2025. And that can generate a global revenue of US$ 1.1 trillion by 2025.
The scenario in India is not very different. According to NASSCOM, a not-for-profit association of Indian IT BPM industry, India is considered be a front runner in IoT adoption in the Asia-Pacific (APAC) region, with the market size projected to grow at a CAGR of 62 percent and reach US$ 9 billion by 2020. The number of IoT connections are expected to grow at a CAGR of 137 percent, increasing from 60 million in 2016 to 1.9 billion in 2020.
Vishal Nagpal, Head of Business Development – India and Emerging Markets says that India is a very price sensitive market and once you are able to sell the product at an affordable rate whitout affecting the performance , then it can work anywhere.
Roadblocks lying ahead
However, there are a few challenges for IoT to realise its full potential in India. Kaushik says that the adoption of IoT has been slow due to infrastructure bottlenecks, geographic conditions, and economic cost. He adds that the benefits of IoT until now have largely been limited to Fortune 500 companies.
The plan ahead
Kaushik says that after their success in the India market, Smartiply will actively look at venturing into other regions like Africa and South America where certain pilot projects are being rolled out.
Smartiply also sees multiple opportunities through its IoT solution, which is not about just connecting devices but also other services as considerable data is being generated.
About the company
A technology startup based in New Jersey, US with a focus on Internet of Things (IoT), Smartiply, was founded by Kaushik Pillalamarri, Mung Chiang, and Junshan Zhang (alumnis of Princeton and the Arizona State University) in September 2015.
A technology executive, Kaushik has worked with multiple corporates, while Mung and Junshan have deep expertise in the area of fog computing.
The startup’s business model is both hardware and software-based. While the hardware is a one-time upfront purchase, the software is a recurring charge based on usage and platform licensing.
Within nine months of its inception, Smartiply has come out with a hardware product having built-in advanced software, that allows devices in remote locations to be connected to the internet.
As of now, the company has deployed its solution in over 1,500 locations in India and another 3,500 is ready to go.
The founders have the mision to go to markets with the most challenging conditions in terms of IoT deployment and has its engineering teams sitting out of US, Taiwan, Poland, and India.