A study conducted by Management Consulting firm Zinnov has revealed that Bengaluru is the top destination in the country for IoT (Internet of Things) startups. The city accounted for nearly 52 percent of the total IoT startups launched in the country. What is even more notable is that no other city is anywhere near the figures registered by Bengaluru in terms of IoT startups. For example, IoT startups in Delhi were only 12 percent, Mumbai 11 percent, Hyderabad 4 percent and Chennai 2 percent. Other cities combined together accounted for 19 percent of total IoT startups in the country.
An excerpt from the study reads, “A wide availability of talent, thriving ecosystem of investors, access to industry experts and the presence of start-up accelerators are contributing to Bangalore’s dominance.” It has also been revealed that total IoT startups launched in the country in the last decade were 120, and out of these 80 percent were launched after 2010. These startups have collectively attracted investments worth more than USD 169 million since 2006.
The study has also revealed that the majority of IoT startups, around 67 percent, are working in the infrastructure domain. This includes hardware components such as infrastructure sensors, embedded chips, MEMS, actuators, modules, SIM card and system design.