#Bharatpe #IoTIndustry #cyberattacks
IoT Industry to touch $1 Trillion
The global IoT market will grow from worth $622 billion in 2020 to $1.077 trillion by 2024, with a CAGR of 13% over the period, according to GlobalData. The figure comes with the increasing development of wireless networking technologies, rise in cloud platform adoption, miniaturization, and the emergence of advanced data analytics are the factors that are driving the global IoT market. The other factors that are propelling the growth of the market include advancement in data analytics, computing economies, and demand from varied domains including manufacturing, automotive, energy, and others. IoT brings different physical objects to be linked by a common network. The IoT market is split into various major segments such as analytics, security, cloud, mobile technologies, and platforms. integration, automation, and cloud computing are major driving forces behind the IoT market. The issues such as Security and Privacy are restraining the market growth.
Further, the IoT technology also assists in connecting various devices to provide ease in the operation and sharing of data amongst themselves. The IoT market caters to every sector from retail, energy, healthcare, infrastructure, and so on. Smart homes, wearable's, and smart cities are the most effective and high-growth applications in the IoT market. Smart devices connected to the internet enable unified connectivity with people, things, and networks. These seamless network connections create an efficient and customized user experience for both end-users and manufacturers. End-to-end security of IoT is critical for both device and network connection. However, today’s IoT systems lack three critical features: Firstly, unstructured and fragmented security regulations are major roadblocks to broader IoT adoption: be it in consumer or enterprise IoT.
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#Bharatpe #IoTIndustry #cyberattacks
IoT Industry to touch $1 Trillion
The global IoT market will grow from worth $622 billion in 2020 to $1.077 trillion by 2024, with a CAGR of 13% over the period, according to GlobalData. The figure comes with the increasing development of wireless networking technologies, rise in cloud platform adoption, miniaturization, and the emergence of advanced data analytics are the factors that are driving the global IoT market. The other factors that are propelling the growth of the market include advancement in data analytics, computing economies, and demand from varied domains including manufacturing, automotive, energy, and others. IoT brings different physical objects to be linked by a common network. The IoT market is split into various major segments such as analytics, security, cloud, mobile technologies, and platforms. integration, automation, and cloud computing are major driving forces behind the IoT market. The issues such as Security and Privacy are restraining the market growth.
Further, the IoT technology also assists in connecting various devices to provide ease in the operation and sharing of data amongst themselves. The IoT market caters to every sector from retail, energy, healthcare, infrastructure, and so on. Smart homes, wearable's, and smart cities are the most effective and high-growth applications in the IoT market. Smart devices connected to the internet enable unified connectivity with people, things, and networks. These seamless network connections create an efficient and customized user experience for both end-users and manufacturers. End-to-end security of IoT is critical for both device and network connection. However, today’s IoT systems lack three critical features: Firstly, unstructured and fragmented security regulations are major roadblocks to broader IoT adoption: be it in consumer or enterprise IoT.
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India’s internet industry expected to reach $5 Trillion valuation by 2030 #shorts
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Education revolution in Punjab ❤️The transformation we all deserve! #punjab #punjabgovernmentschool
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Education revolution in Punjab ❤️The transformation we all deserve! #punjab #punjabgovernmentschool
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Addressing the 91st Annual General Meeting of FICCI, Mr Ravi Shankar Prasad, Minister of Law and Justice, Electronics and Information Technology, said that the 'Digital India' programme has resulted in large-scale adoption of digital technology as the country marches towards becoming a trillion dollar digital economy in the next two to three years.Watch India to become a trillion dollar digital economy in two to three years: Ravi Shankar Prasad With HD Quality
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Interim Finance Minister Piyush Goyal said, 'We are poised to become a 5 trillion dollar economy in the next five years, we aspire to become a 10 trillion dollar economy in the next eight
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#Government #Cybercrime #Chineseinvestment
Cybercrime costs are on the rise
The acceleration of digital transformation has fundamentally changed and unravelled a lot of things across various companies, as companies reshape their business models, technology has become an important fabric in running the business itself. High profile digital transformation including turning data into knowledge, insights, and actions for numerous purposes. Technologies such as cloud computing and various forms of artificial intelligence serve as enablers to better create value and transform. Yet, they as well pose challenges on a cybersecurity level. Moreover, some technologies are leveraged by cybercriminals to get better results. Cyberattacks are a threat to businesses of all sizes and in all industries. With cybercrime rising by 600% during the pandemic, businesses are more vulnerable than ever to the financial and reputational repercussions of cyberattacks. This makes it even more important for businesses and organizations to make cybersecurity a priority.
Global cybercrime costs are on the rise, increasing 15 per cent year over year. By 2025, it is estimated that cybercrime will cost businesses worldwide $10.5 trillion annually. With the global cost of cybercrime at $3 trillion in 2015, that’s more than a threefold increase over a decade. This represents the “greatest transfer of economic wealth in history. To put this into perspective, if the total of $6 trillion in cybercrime losses in 2021 were measured as if it were a country, this would be the world’s third-largest economy after the U.S. and China. A ransomware attack occurs when malicious software infects computers and restricts their access to files until a ransom is paid. It’s estimated that global ransomware damage costs will reach $20 billion in 2021, 57 times the amount in 2015. The report also predicted that a ransomware attack will occur every 11 seconds in 2021, up from ever
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India expected to cross $26 trillion economy by 2047 #shorts
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Indian Tech Industry To Form Policy On The Right Usage of IoT
Indian Tech Industry To Form Policy On The Right Usage of IoT
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#India #IoT #PiyushGoyal
Massive revenue growth with IoT devices
Internet of Things (IoT) - enabled retail market could be worth it by 2025 as more and more retail businesses adopt IoT technology to improve their products and services. It is estimated that there will be over 30 billion IoT connected devices around the world by 2021. McKinsey estimates that the potential economic impact of IoT in retail environments will range from $410 billion to $1.2 trillion per year by 2025. The increasing usage of smartphones is one of the major contributors that is likely to drive the market growth along with the increase in internet penetration in developing countries such as India, China and others. Developments in new-age technologies such as Artificial Intelligence (AI), Machine Learning (ML), and Big data are also fuelling the demand for the Internet of Things (IoT) in the ever-evolving retail market growth.
With retailers increasingly investing in IoT, customers are bound to enjoy the ‘SMART’ shopping experience through a network of connections linking the physical and digital worlds into an ecosystem of devices. Technologies around smart shelves, 3D-printing, drones, delivery robots and AI-driven platforms are enabling retailers to further automate and optimize supply chain operations, business efficiency and enhanced shopping experience. There are numerous IoT-related benefits to the retail industry, but here are some of the most important ways we think IoT will change retail in the coming years. As more and more IoT devices penetrate across the industry there is scope for massive revenue growth through better product throughput, improved inventory management for retailers along with increasing the overall shopper experience for the customer in the ever competitive market.
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Manufacturing is increasingly turning to next-generation networks to propel their businesses. After years of hype and steady uptake, Internet of Things (IoT) technology is all set to become a part of mainstream adoption. Right from industrial goods, retail, utilities, healthcare, agriculture, logistics to aviation, startups are offering IoT-enabled solutions ranging from connected cars, automated home, medical IoT, wearable technology to smart cities. Innovation in IoT is entering into a stabilization phase, as evident by the decline in new patent applications and venture capital (VC) deals activity but its adoption is increasing as corroborated by increase in hiring activity and corporate filing mentions with more companies mentioning their IOT related initiatives. GlobalData’s recent report, Future Internet of Things (IoT) Unicorns reveals that in Q2 2021, the IoT industry reported investment in excess of $6.4bn spanning 268 deals globally.
The rapid increase in IoT deployments over the last few years highlights the considerable progress global industry has made to overcome some of the world’s most challenging forces. During the period, Asia-Pacific accounted for nearly half of the overall VC deal volume, followed by North America (primarily the US) with 34%. When it comes to social media discussions, ‘IoT’ and its use cases in autonomous driving, cellular IoT, port operations and education are increasingly being mentioned by social media influencers. In the post-COVID-19 era, several organizations considered digitalization as their top priority, and saw IoT as one of the enablers. Fuelled by this digital transformation wave, the demand for new IoT applications will continue to increase in 2021 and beyond led by its applications in industries, connected cars, automated home, smart offices, medical devices, remote asset monitoring, drones, and location tracking services. Driven by this underlying demand, the IoT market is expected to reach $1 trilli
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