India is regarded to be among the top tech inclined countries in the world.India ranks the second highest in Internet of Things (IoT)-enabled customer maturity compared with other Asia-Pacific (APAC) markets, a new report revealed on Tuesday.
The Internet of things (IoT) is the inter-networking of physical devices, vehicles (also referred to as “connected devices” and “smart devices”), buildings, and other items—embedded with electronics, software, sensors, actuators, and network connectivity that enable these objects to collect and exchange data.
Across India, the research revealed organisations see high value in integrating IoT into their Customer Experience (CX) initiatives compared to other markets in the region.
“Most organisations in India are not bogged down by having to integrate IoT into existing legacy infrastructure and as a consequence, this market was ahead of the region when it comes to the adoption of IoT-enabled CX solutions,” Budge added.
The report reveals 83 per cent of respondents across APAC have some level of familiarity with IoT and nearly 50 per cent believe IoT is important in enhancing CX.
“Despite this, only 15 per cent of respondents across APAC have already implemented IoT,” the report noted.
The IoT allows objects to be sensed or controlled remotely across existing network infrastructure, creating opportunities for more direct integration of the physical world into computer-based systems, and resulting in improved efficiency, accuracy and economic benefit in addition to reduced human intervention.
When IoT is augmented with sensors and actuators, the technology becomes an instance of the more general class of cyber-physical systems, which also encompasses technologies such as smart grids, smart homes, intelligent transportation and smart cities. Each thing is uniquely identifiable through its embedded computing system but is able to interoperate within the existing Internet infrastructure. Experts estimate that the IoT will consist of almost 50 billion objects by 2020.
The report “IoT-Enabled Customer Experience (CX) Report 2016”, released by Customer experience company Genesys, found that across APAC, businesses are realising the wide reaching benefits of implementing IoT.
“Our research found the overwhelming majority of respondents across APAC believe customer lifetime value is the most significant business benefit delivered by an effective customer experience strategy,” said Keith Budge, senior vice president, APAC, at Genesys.
India have a great future in terms of technology and due to this many Tech investors are gearing towards India.