South Korean tech giant Samsung is betting big on Internet of Things (IoT) technology gaining pace in India to roll out more connected appliances in the country.Samsung, which already sells smart refrigerators and washing machines in India, also expects the demand for such internet-connected appliances to grow as 5G is rolled out going forward.
“Our focus is on ensuring a better IoT experience for consumers globally. Our smart products have received a strong response in the Indian market… We think the usage of IoT and demand for connected devices will definitely increase in countries like India as 5G gets rolled out,” Samsung Vice President, Home IoT Sunggy Koo told PTI.
He added that the company will also look at bringing in more connected appliances in India, which is among its key markets globally.IoT refers to a network of inter-connected sensors and devices like smartphones, connected vehicles and appliances which harness information from massive amounts of data collected.
Koo said Samsung is working with various software and hardware companies to build its connected home ecosystem.As per reports, the IoT market in India is about USD 5.6 billion with more than 200 million connected devices.This market is expected to grow to more than 2 billion devices by 2020