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.
Gurgaon-based Trak N Tell provides a GPS-based product that enables car owners and fleet owners to track their vehicles, while MapmyIndia launched a plug and play device in May called DriveMate that connects to cars via the OBD port and provides location, ignition and status reports.
TRAI’s paper on IoT licensing, regulation
India’s telecom regulator TRAI had recently issued a consultation paper; IoT based devices and smart systems installed at homes, offices were under the TRAI’s scrutiny, as it looked to regulate Machine-to-Machine (M2M or IoT) devices under a licensing framework, set national/international roaming charges, assign spectrum, determine QoS and privacy of users, among others things. More here.
Other developments from Spice
-Spice Mobility said in June that it will sell a 49% stake in its subsidiary Spice Online to Digitone, a subsidiary of Beijing Digital Telecom Company.
-In the same month, the company made some structural changes by transferring Hindustan Retail’s 100% stake in Spice Online Retail to Ominiventures.
-The same month, Spice Online Retail also incorporated Hotspot Sales & Solutions Private Limited as a 100% owned subsidiary company to engage in the business of telecom devices.
Read our IoT coverage here