Will 2022 be the Year Pakistan’s Booming Tech Startups Drive Adoption of IoT Technologies?

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By Abdullah Haider | 1Q 2022 | IN-6422

 

Growing Startups Are Expected to Drive Growth in IoT

NEWS


Incubation of the Internet of Things (IoT) technology is indeed expected to accelerate, but 2022 may not be its breakout year. Pakistan has skipped several iterations of mass consumption of ‘dinosaur’ digital technologies like desktop computers, 2G phones, PDAs (personal digital assistants), and legacy chip-and-pin payment terminals altogether. Skipping early generation technology creates fertile ground for businesses and consumers alike to embrace next-gen IoT technology from the get-go. Startups in Pakistan rounded out 2021 by raising capital to the tune of US$350 million, which is more than a five-fold increase than the 2020 total of US$65 million and exceeds the past six years combined. Like other frontier markets, almost all IoT projects in Pakistan are greenfield. These greenfield deployments are matched by entrance of start-ups which are in their growth phase, these two factors of growing businesses and growing markets are expected to create disruption in key industry verticals. Other drivers of growth include commoditization of IoT hardware which…

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