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IoT market worth $267bn expected in 2020

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Update: 2018-02-23 05:33:22
IoT market worth $267bn expected in 2020 Speakers at the seminar (Photo: BASIS)

DHAKA: A seminar tiled ‘IoT-Changing Lifestyle: Application in Energy & Other Utility Services’ was held on the second day of BASIS Soft Expo-2018 at Bangabandhu International Conference Center (BICC) in Dhaka Friday (February 23).  

The Prime Minister's Energy Adviser Dr Tawfiq-e-Elahi Chowdhury and Power Cell Director Genearal Mohammad Hossain attended the seminar as chief guest and special guest respectively. 

Dr Syed Akter Hossain, Head of Computer Science and Engineering (CSE) of Daffodil International University (DIU) and DataSoft Program Coordinator Sami Al Hasan delivered the keynote speeches.

“IoT (Internet of Things) controls our daily technological service products. It will reduce the per capita expenditure. Availability of necessary devices, proper policymaking, mass awareness and involvement of talented youth society are the requirements to use the best service of IoT”, said Syed Akter Hossain.   

“The market of IoT is gradually increasing and it is being expected that the rate of this growth will reach at 38.3% in 2020 whereas the total market will stand at 267 billion”, said Sami Al Hasan.  

“Success has been marked on the use of IoT in energy management, traffic management, smart city, solar panel, smart pavement, smart waste management, electronic car, and safety & security”, he added. 

University of Liberal Arts Bangladesh (ULAB) Professor Sazzad Hossain said that initiatives should be taken to use the talented youths of Bangladesh to produce the IoT products rather than importing from other countries.

Dr Tawfiq-e-Elahi Chowdhury assured that the government will provide fund in this regard.
“Not only for research, we are ready to cooperate from the phase of production up to marketing.”

Monico Technologies Ltd Director and COO Md Sakhawat Hossain and LeadSoft Bangladesh CTO Papias Hawlader were among others participated in the seminar directed by CACTS Ltd Managing Director Nurul Islam.

BDST: 1646 HRS, FEB 23, 2018
SI

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