A recent 186-page report by Tata Consulting Services is being cited to validate the claim that there is already huge IoT interest in the corporate world. Tata says internationally 26 companies will spend at least $1 billion this year on initiatives related to the trend. Tata Consulting Services is one of the top 4 global consulting organizations and is a division of Indian coporate giant Tata Group.
L&T Technology Services, a unit of India’s largest engineering and construction company Larsen and Toubro Ltd (L&T), is betting on smart and connected machines in the belief that analytics and the so-called Internet of Things (IoT) will shape the future of engineering. The firm, that offers solutions for product design, prototyping and testing and embedded system design, among others, partnered with US-based Proximetry, Inc., an IOT device management solutions provider, in January, to cater to the market of connected devices that are critical when operating electrical substations and large industrial facilities.