IoT adoption to touch $11 trillion by 2025

Chennai: According to a report from McKinsey Global Institute, IoT adoption, which is increasing exponentially across varied industry verticals including manufacturing, retail, logistics, energy, supply chain, healthcare, etc., has the potential to generate up to $11 trillion in economic value by 2025.

However, the growth of IoT needs to be seen in the context of its potential when used in combination with other technologies like AI/ML and Big Data.

The existing installed base of five billion plus smartphones, two billion plus personal computers, and one billion plus tablets, when connected, indicate a massive market for IoT transformation.

While IoT projects are top priority for organizations, nearly 75 per cent take twice as long to complete because of talent shortage. The industry has a critical need for professionals with expertise in technologies and processes around IoT to fulfill its ambitions of interconnectivity.

In a bid to address the gap, the International Institute of Information Technology, Hyderabad (IIIT-H) and TalentSprint, an NSE Group company, announced the launch of the PG certificate in IoT and Smart Analytics.

The nine-month program is designed both for IoT engineers who want to master analytics as well as other tech professionals and managers from industries disrupted by heavy IoT adoption.

A team of faculty leading Smart City research at IIITH will teach participants through live, interactive online classes, and mentor them as they apply learnings on leading industry projects.

A few select fresh graduates will also get to join the program. Applications are open for the first cohort due to start in June 2021.