India Industrial Iot Market (2020-2026) | Size, industry, companies, Share, Revenue, Forecast, Trends, Analysis, Outlook & COVID-19 IMPACT

India Industrial Iot Market report comprehensively covers the market by hardware, connectivity, software, verticals, and regions. The India Industrial IoT market report provides an unbiased and detailed analysis of India Industrial IoT market share, India Industrial IoT market trends, opportunities, high growth areas, and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.

Latest 2023 Development of the India Industrial IoT Market

India Industrial IoT Market has been growing rapidly in recent years. The primary factors driving the growth of this industry include the increasing adoption of automation and digitalization in various industrial sectors. Additionally, the government is aiming to digitize various sectors of the economy, including manufacturing, which in turn, boosts the growth of India Industrial IoT Market. Also, the government of India has launched the "Smart Factory" initiative to transform the country's manufacturing industry through the adoption of IoT technologies. The widespread adoption of smartphones and other smart devices is also generating demand for industrial solutions that can be accessed remotely. Thereby, contributing to expanding the India Industrial IoT Market size. 

Moreover, India's largest telecom operators are investing heavily in IoT technologies. The cost of labour is rising due to which manufacturers are increasingly turning to automation to improve efficiency and reduce costs. Indian manufacturers are increasingly recognizing the benefits of IoT, such as reduced downtime, improved productivity, and better quality control. Further, the expansion of e-commerce is driving demand for IoT solutions to improve logistics and supply chain management. Lastly, Indian companies are investing heavily in research and development to develop innovative IoT solutions to gain a competitive edge in the market. 

India Industrial IoT Market Synopsis

India Industrial IoT Market is anticipated to register growth as numerous states are expected to witness an industrial construction spree in the coming years, with construction projects including the setting up of large-scale commercial and industrial establishments including retail, healthcare, and transport & logistics. The above-mentioned growth would also be fuelled by the advancement in wireless technology coupled with the increasing need for condition monitoring in industries all over the country. Remote monitoring in factories and plants has also gained traction amid the COVID-19 pandemic, which would also bode well for the industrial IoT market in the country in the years to come. The market has seen a halt owing to the massive outbreak of COVID-19 which resulted in nationwide lockdowns to combat the spread of the virus and has led to a decline in overall market growth.

According to 6Wresearch, the India Industrial IoT Market size is projected to grow at a CAGR of 15.5% during 2020-2026. The modern market landscape is leading to increased efforts to strengthen the infrastructure and improve the Solutions and aid provided by the various industrial landscape and remove the dexterities owing to the scarcity of manpower witnessed by the various industries along with due arrangements of the necessary funds and resources to run the effective test and measurement and implementation of internet of thing technology in the Indian industrial landscape and is expected to be a potential driver for the skyrocketing growth of the India Industrial IoT market in the coming future. Further, to bring in high technology and fast communication access, many satellite industry-based private players across the world are working towards the growth and expansion of their present infrastructure to enhance the installation and integration of the necessary equipment related to the Industrial IoT in every nook and corner of the world along with the alignment of the same with the evolving augmented reality environment and as a result, is further, expected to be a positive driving growth factor for the India Industrial IoT market in the near future.

Market Analysis by Hardware Segment

In the hardware segment, sensors, and actuators acquired the majority of the market revenue share in 2019 on account of the increasing need for predictive maintenance and condition monitoring in traditional manufacturing facilities. Nevertheless, the awareness level of IoT implementation in niche sectors is yet to gain traction among IoT providers. Further, with the emergence of low-power hardware devices, cloud integration, big data analytics, robotics & automation, and smart sensors, the Indian IoT market is expected to provide numerous opportunities for service providers and manufacturers in the forecast period.

Market Analysis by Verticals

IoT solutions are being increasingly used in the healthcare sector and gained a chunk of the market share in the overall market revenues of 2019 on account of the difficulty faced by health providers to visit patients with chronic conditions frequently coupled with increasing applications of connectivity solutions in hospitals and healthcare centres. With wireless technologies getting cost-effective, many governments and private hospitals in the country have started to adopt practices such as emergency care, inventory & patient tracking, augmented surgeries, virtual monitoring, etc. Hence, the use of sensors and other related components in these departments is expected to increase in the forecast period.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2020.
• Base Year: 2019
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• India industrial IoT Market Overview
• India industrial IoT Market Outlook
• India industrial IoT Market Forecast
• India industrial IoT Market Size
• Historical Data of India Industrial IoT Market Revenues for the Period 2017-2026
• India industrial IoT Market Forecast of Revenues, Until 2026
• Historical Data and Forecast of India Industrial IoT Market Revenues, By Hardware, for the Period 2017-2026
• Historical Data and Forecast of India Industrial IoT Market Revenues, By Connectivity, for the Period 2017-2026
• Historical Data and Forecast of India Industrial IoT Market Revenues, By Software, for the Period 2017-2026
• Historical Data and Forecast of India Industrial IoT Market Revenues, By Verticals, for the Period 2017-2026
• Historical Data and Forecast of India Industrial IoT Market Revenues, By Regions, for the Period 2017-2026
• India industrial IoT Market Outlook on Drivers and Restraints
• India industrial IoT Market Trends
• India industrial IoT Industry Life Cycle
• Porter’s Five Force Analysis
• India industrial IoT Market Opportunity Assessment
• India industrial IoT Market Share, By Company
• India industrial IoT Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Hardware:

• Sensors & Actuators
• Controllers
• Others (Smart Meters, Camera, Interface Boards, Yield Monitors, etc.)

By Connectivity:

Wired Technologies

• • • Ethernet
    • Profinet
    • Profibus
    • EtherCAT
    • Modbus
    • Foundation Fieldbus
    • OPC-UA
    • MT Connect
    • CC-Link

Wireless Technologies

• • • Wi-Fi
    • Bluetooth
    • Others (Cellular, Satellite, Zigbee, etc.)

By Software:

• Product Lifecycle Management
• Manufacturing Execution Systems
• SCADA
• Outage Management Systems
• Distribution Management Systems
• Remote Patient Monitoring
• Retail Management Software
• Others (Transit Management System, Farm Management System, etc.)

By Verticals:

• Healthcare (Medical Diagnostic equipment and Pharmaceutical Companies)
• Transportation (Rail, Road, and Shipping)
• Manufacturing
• Automotive
• Other Industries (Smart cities and infrastructure, educational institutions, etc.)

By Regions:

• Eastern
• Western
• Northern
• Southern