Internet of Things (IoT) units in India are expected to see a rapid 31-fold growth to reach 1.9 billion by 2020. The market value of IoT is expected to reach $9 billion by 2020. IoT is going to be the next big thing for operators as India will rapidly grow into a hub for IoT lsolutions.
“With advances in reliability, accuracy and technology of advance tech measures such as biometric authentication, digitisation will gain popularity in various business applications,” the company said in a statement. Even with over 750 million cards in circulation and significant growth, mobile-based and digital payments will eclipse physical card payments.