In a move towards developing the Internet of Things (IoT) ecosystem in India, IT industry's representative organisation Nasscom on Wednesday signed an MoU with the IoT Acceleration Consortium (ITAC)-Japan.
Under the MoU, Nasscom and ITAC-Japan will collaborate to address digital technology shifts and accelerate IoT adoption at a global level across the industry.
"It is imperative that there is a global effort towards accelerating IoT in every sector, this partnership will be another key milestone in building this robust ecosystem of collaboration and open new avenues," said K.S. Viswanathan, Vice President (Industry Initiatives), Nasscom.
Both Nasscom and ITAC-Japan will share information on the ecosystem, new practices and technological developments.
The IoT market in India is expected to reach $15 billion by 2020 accounting for nearly five percent of the total global market and the worldwide IoT market is poised to be a $328 billion market by 2020.Also read: Bharti Airtel to Buy Telenor India in 7 Circles
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