Mahindra Group to Deploy Sensors in its Tractors and Trucks using Internet of Things

India: Mahindra Group, a Mumbai based automobile conglomerate has initiated an Internet of Things project. The project focuses on the installation of sensors to forecast which part is expected to witness a potential breakdown.

Moreover, with the growing market for IoT, wherein data analysis and placing the sensors in the devices helps to understand the customer behavior which improves the overall performance. Furthermore, the company bought a minority stake in Cloud-Leaf, a startup which helps the company to increase the scalability along with sensor management.

TechSci Research depicts that with the rising proliferation of the internet based devices, big data analytics, and cloud services is expected to drive the overall IoT market in India. In addition, initiatives by the different Indian MNCs to offer different IoT products and services is estimated to propel the growth of the India IoT market. Finally, the rising demand for connected devices and growing needs for digitalization will lead to a healthy IoT market.

According to the recent report published by TechSci Research, “India Internet of Things (IoT) Market Forecast and Opportunities, 2020,” IoT market in India is projected to grow at a CAGR over 28% during 2015- 2020. IoT is being rapidly brought into use across diverse industry verticals to reduce operational and manpower costs, and increase operational efficiency. Consumer electronics, automotive & transportation, BFSI, home & building, energy & utilities, retail, supply chain & logistic sectors, and manufacturing are the key emerging application areas where IoT technology is majorly being adopted. However, India’s IoT market is highly fragmented with numerous players operating across the value chain.