Consumer tech maker Spice Mobility has set up a fully owned IoT subsidiary, the company informed the stock exchanges yesterday. It did not provide any additional details about the subsidiary. MediaNama has written to Spice seeking more details, we will update the story once they respond.
The Indian IoT market, according to NASSCOM, is valued at $5.6 billion and this is set to grow to $15 billion by 2020. Some recent entrants to the market include Mahindra’s in-built vehicle tracker that is embedded into its smaller commercial vehicles like Jeeto and Imperio. Honda also has a similar connected cars platform for vehicle location tracking, engine health monitoring, and trip details.
Similar to Spice which makes smartphones, Ambani-owned Reliance Jio was also reportedly working on a new IoT product named Jio Car Connect’, an On-Board Diagnostic (OBD) device that can be plugged into a car’s OBD module to record and track engine and other vehicular related data.
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