India Multiprotocol Label Switching-Transport Profile Market (2024-2030) | Share, Trends, Value, Analysis, Outlook, Forecast, Growth, Industry, Companies, Size & Revenue

India Multiprotocol Label Switching-Transport Profile Market Synopsis

The multiprotocol label Switching-Transport profile market in India is driven by digital transformation with India’s digital economy expected to rise to approximately US$1 trillion by 2025, contributing to 20-25% of the country’s GDP. Furthermore, IT and start-up sectors with currently 108 unicorns, 90,000 start-ups, and other digital businesses are contributing significantly to the economy and promoting innovation across different industries such as banking, healthcare, and financial services. They are poised to generate substantial demand for MPLS-TP, supporting their scalability, reliability, and security needs. This market growth aligns with private sector banking branch network growth from 34,794 in FY20 to 37,872 in FY23 along with Digital India initiatives such as the Bharat Net program, which aims to fiberize all villages by 2025, supporting the diverse requirements of modern digital initiatives while ensuring compatibility with legacy transport technologies.

According to 6Wresearch, India Multiprotocol Label Switching-Transport Profile Market size is projected to grow at a CAGR of 5.2% during 2024-2030. India’s growing telecom sector with the country estimated to have 1 billion smartphone users by 2026 along with its thriving IT sector with anticipated IT spending anticipated to reach $124.6 billion in 2024, marking a 10.7% increase from 2023, offer promising avenues for the adoption of multiprotocol label Switching-Transport profile to meet the evolving connectivity needs of businesses and consumers. Moreover, India's growing demand for data collection and storage, with average data traffic per smartphone to grow from 31 GB per month in 2023 to around 75 GB per month in 2029, along with 5G subscribers growing by 6.6 times during the next six years would drive demand for multiprotocol label switching transport profile market during the forecast period.

Market Segmentation by Service Providers

Telecom operators are set to experience the highest growth rate, fueled by rising demand for dependable connectivity and expansion of network infrastructure. Moreover, the increasing adoption of digital technologies and the proliferation of data-intensive applications across various sectors are expected to drive sustained demand for telecom operators' services. This trajectory is further reinforced by substantial investments from telecom giants, exemplified by a projected $19.5 billion infusion by 2025 to advance 5G infrastructure development.

Market Segmentation by Industry

Enterprises segment garnered the highest revenue share in India Multiprotocol Label Switching-Transport Profile Market requiring networking demands, driven by the complex nature of their operations. With offices, branches, and data centers spread across various regions, enterprises require a robust and scalable network infrastructure like MPLS TP to ensure seamless communication and data transfer and hence have a major share in the market.

Market Segmentation by Government Application

The power and utility sector is positioned for highest revenue share propelled by the imperative need for seamless intermodal connectivity linking substations and control systems. Moreover, India anticipates a nearly doubling of power demand to 817 GW by 2030 from 425 GW in 2023, presenting compelling opportunities for prominent industry players to leverage. Furthermore, the escalating focus on digital solutions within the power and utility domain, including the deployment of smart grid technologies, underscores the sector's potential within the market landscape.

Market Segmentation by Region

Southern region dominated the India Multiprotocol Label Switching-Transport Profile Market and accounted for the largest revenue in 2023. The region's bustling technology hubs, including Bengaluru and Hyderabad, foster substantial demand for MPLS TP solutions to support networking needs such as data center interconnection and cloud services. Moreover, STT GDC India signs MoU with Karnataka Government worth Rs 1500 Crore and other such projects further contribute to the region's dominance in the market.

Key Attractiveness of the Report

• 10 Years of Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• India Multiprotocol Label Switching-Transport Profile Market Overview
• India Multiprotocol Label Switching-Transport Profile Market Outlook
• India Multiprotocol Label Switching-Transport Profile Market Forecast
• Historical Data and Forecast of India Multiprotocol Label Switching-Transport Profile Market Revenues for the Period 2020-2030F
• Historical Data and Forecast of India Multiprotocol Label Switching-Transport Profile Market Revenues, By Service Providers for the Period 2020-2030F
• Historical Data and Forecast of India Multiprotocol Label Switching-Transport Profile Market Revenues, By Industry for the Period 2020-2030F
• Historical Data and Forecast of India Multiprotocol Label Switching-Transport Profile Market Revenues, By Government Applications for the Period 2020-2030F
• Historical Data and Forecast of India Multiprotocol Label Switching-Transport Profile Market Revenues, By Regions for the Period 2020-2030F
• Market Drivers and Restraints
• Market Trends
• Industry Life Cycle
• India Multiprotocol Label Switching-Transport Profile Market – Porter’s Five Forces
• Market Opportunity Assessment
• Market Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

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

By Service Providers

• Telecom Operators
• Internet Service Providers (ISPs)

By Industry

• Enterprises (BFSI, Healthcare, MSME, etc)
• Government

By Government Application

• Oil and Gas
• Power and Utility
• Transportation (Metro and Railways)

By Region

• Northern
• Southern
• Western
• Eastern