India is aiming to capture 20 percent market share of the Internet of Things (IOT), which is likely to become a US$300 billion sector by 2020, a top NASSCOM official said.

Talking to the reporters in Coimbatore, the Vice President of Nasscom (Industrial Initiative) K.S. Vishwanathan said that the IoT is driving the fourth wave of industrial revolution, dramatically altering the manufacturing, energy, transportation, cities, medical, and other industrial sectors across the world.

With the IoT market all set to reach the US$300 billion mark by 2020, India is aiming at capturing 20 percent market share by then, he said.

Mr. Vishwanathan was in Coimbatore to launch the NASSCOM IoT Centre of Excellence, a joint venture of the Government of India (Department of Electronics and Information Technology, DEITY), in partnership with TCS, Intel, Amazon Web Services, and FORGE Accelerator.

The government has plans to start more such centres, depending on the success of the Coimbatore hub.