the iot technology is a system of interrelated computing devices which have unique identifiers uids and the ability to transfer data over a network without requiring humantocomputer interaction in an interview with etcfos shivani phaugat ravi asawa cfo aeris communications shared his views on the growing usage of internet of things iot technology in various sectors of economy to reduce npas enhance return on investment roi and conserving energy to meet the surge in demand of energy the iot technology is a system of interrelated computing devices which have unique identifiers uids and the ability to transfer data over a network without requiring humantocomputer interaction advt aeris india is a subsidiary of aeris communications the company provides iot solutions which include global cellular data connectivity infrastructural platforms for device manufacturer and water and energy conservation plants for recycle and reuse the energyq how do you see usage of iot services in india ravi asawa the iot is an evolving sector and growing at a very rapid pace according to a forecast by gartner inc over 25 billion connected objects will be in use worldwide by 2020 this is more than 4 times the 64 billion objects that were connected in 2016 iot has a lot of potential in each and every segment to bring in more efficiency into the system processes and improve revenue generation read alsoopinion top 3 reasons why iot is the biggest innovation in the tracking industryabout 63 vehicle makers dont test half of hardware and software technologies report the adoption of iot gained momentum when the digital india mission was launched in 2015 followed by the 100 smart cities mission in 2016 today every sector is trying to be digitally connected and this is one of the major reasons behind the steady rise in the number of connected gadgets in offices and homes across the nation iot technology will play an important and crucial role in achieving the wish of 5 trillion economy by 2024 set by prime minister narendra modi advt q how is your business profile looking like and which are your target sectors in india ravi asawa aeris has been in iot business for more than 20 years in the usa it has developed platforms for the automotive and worked with a lot of big oems in the markets on this in india we commenced our operations in 2016 we have our own platforms that provide end to end solutions and are working with device manufacturers directly pricking the devices with our technology we are procuring worldwide connectivity through vodafone and airtelone of the sectors that we are targeting in india is banking and insurance industry that has a huge potential out technology allows them to track the vehicle its emi status its condition etc on a real time basis thus reducing their npas chances of theft and the loss due to delayed actions this also increases their roi as well in the transport and logistics sector we are providing the field operators