Market Forecast By Components (Semiconductor, Wireless, Others), By Verticals (Road, Rail, Air, Maritime), By Organization Size (Large Enterprises, SMEs), By Focus Area (Smart Manufacturing, Smart Transportation/Mobility, Smart Energy and Utilities, Smart Retail, Connected Healthcare, Smart Agriculture) And Competitive Landscape
Product Code: ETC4466185 | Publication Date: Jul 2023 | Updated Date: Nov 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 | |
Report Name | India IoT Market |
Base Year | 2022 |
Historical Period | 2019-2022 |
Forecast Period | 2023-2029 |
Growth Rate (CAGR) | 17.7% |
Report Coverage | Revenues & Volume, Market Trends, Drivers & Challenges, Market Forecast, Market Share |
Segment Coverage | By Components, By Verticals, By Organization Size, By Focus Area |
Customization Scope | 100% customized reports available along with reliable data. Moreover, you can alter the segments, countries, and regions according to your needs. For further details, you can contact our research expert at sales@6wresearch.com |
Pricing and Purchase Options | Avail customization purchase option to know the exact pricing of your research needs |
India IoT Market report thoroughly covers the market by components, by verticals, by organization size, and by focus area. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
India IoT Market is estimated to gain traction in the coming years underpinned by the growing need for automation and efficiency across various industries, driving a high adoption of IoT technologies. Smart City is one of the initiatives that include urban planning, infrastructure management, and citizen services, this has resulted in an increased demand for IoT technologies. The rising expansion of the healthcare sector in the country has resulted in higher adoption of IoTs, as they facilitate remote patient monitoring and telemedicine.
According to 6Wresearch, the India IoT Market size is estimated to rise at a CAGR of 17.7% during the forecast period 2023-2029. The market growth is influenced by some aspects such as increased digitization, growing smart homes, and rising IoT technology adoption across the sectors, including healthcare, energy & utilities, and manufacturing. Additionally, the rising expansion of the healthcare sector in the country has resulted in higher adoption of IoTs, as they facilitate remote patient monitoring and telemedicine. Moreover, the agriculture sector is also accelerating the use of IoT solutions, as they offer crop monitoring and resource optimization, which are likely to boost the market over the years. However, Data Privacy and Security and Interoperability are some challenges that affect the market's growth. Despite these challenges, IoT market in the country still holds high shares as IoT systems are increasingly incorporating AI and machine learning for advanced analytics and decision-making. This is estimated to be a leading factor for the India IoT Market growth.
The COVID-19 pandemic had left a mixed impact on the India IoT Market which is a part of the Asia Pacific IoT Market. Due to the pandemic, companies announced the remote work coupled with continued operation of the healthcare sector had accelerated the of IoT solutions demand across the country. IoT helped businesses by offering enhancing remote monitoring and control capabilities. However, with the supply chain disruption, the product availability was declined simultaneously market shares.
India IoT Market is highly competitive, with the presence of numerous players operating in the country. Some of them are mentioned below:
The IoT market in India 2023, is estimated to grow with the support of government schemes and policies. The government's Smart Cities Mission has fuelled the IoT solutions to ensure better urban planning and infrastructure management. The "Make in India" initiative aims is to increase domestic manufacturing, including IoT devices, to reduce the reliability on imports. The Digital India program, leading to increasing digital infrastructure, supporting the IoT device applications in India by improving connectivity. The government has introduced a National Strategy for IoT to promote the adoption and growth of IoT across various industries of the economy. This is estimated to leave a positive impact on the market growth.
Based on the verticals, each of the segments including, Road, Rail, Air, and Maritime have high adoption of IoT devices. The demand changes based on certain factors like government policies, infrastructure development, and industry-specific needs.
According to Nitesh Kumar, Research Manager, 6Wresearch, each sector is gaining demand for IoT devices, however, India is currently experiencing growth & expansion in certain sectors such as, manufacturing, Transportation/Mobility, and Smart Energy and Utilities. These are driving major demand for IoT devices to upgrade their operations.
The report offers a comprehensive study of the subsequent market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India IoT Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India IoT Market Revenues & Volume, 2019 & 2029F |
3.3 India IoT Market - Industry Life Cycle |
3.4 India IoT Market - Porter's Five Forces |
3.5 India IoT Market Revenues & Volume Share, By Components , 2022 & 2029F |
3.6 India IoT Market Revenues & Volume Share, By Verticals , 2022 & 2029F |
3.7 India IoT Market Revenues & Volume Share, By Organization Size, 2022 & 2029F |
3.8 India IoT Market Revenues & Volume Share, By Focus Area, 2022 & 2029F |
4 India IoT Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 India IoT Market Trends |
6 India IoT Market, By Types |
6.1 India IoT Market, By Components |
6.1.1 Overview and Analysis |
6.1.2 India IoT Market Revenues & Volume, By Components , 2019 - 2029F |
6.1.3 India IoT Market Revenues & Volume, By Semiconductor, 2019 - 2029F |
6.1.4 India IoT Market Revenues & Volume, By Wireless, 2019 - 2029F |
6.1.5 India IoT Market Revenues & Volume, By Others, 2019 - 2029F |
6.2 India IoT Market, By Verticals |
6.2.1 Overview and Analysis |
6.2.2 India IoT Market Revenues & Volume, By Road, 2019 - 2029F |
6.2.3 India IoT Market Revenues & Volume, By Rail, 2019 - 2029F |
6.2.4 India IoT Market Revenues & Volume, By Air, 2019 - 2029F |
6.2.5 India IoT Market Revenues & Volume, By Maritime, 2019 - 2029F |
6.3 India IoT Market, By Organization Size |
6.3.1 Overview and Analysis |
6.3.2 India IoT Market Revenues & Volume, By Large Enterprises, 2019 - 2029F |
6.3.3 India IoT Market Revenues & Volume, By SMEs, 2019 - 2029F |
6.4 India IoT Market, By Focus Area |
6.4.1 Overview and Analysis |
6.4.2 India IoT Market Revenues & Volume, By Smart Manufacturing, 2019 - 2029F |
6.4.3 India IoT Market Revenues & Volume, By Smart Transportation/Mobility, 2019 - 2029F |
6.4.4 India IoT Market Revenues & Volume, By Smart Energy and Utilities, 2019 - 2029F |
6.4.5 India IoT Market Revenues & Volume, By Smart Retail, 2019 - 2029F |
6.4.6 India IoT Market Revenues & Volume, By Connected Healthcare, 2019 - 2029F |
6.4.7 India IoT Market Revenues & Volume, By Smart Agriculture, 2019 - 2029F |
7 India IoT Market Import-Export Trade Statistics |
7.1 India IoT Market Export to Major Countries |
7.2 India IoT Market Imports from Major Countries |
8 India IoT Market Key Performance Indicators |
9 India IoT Market - Opportunity Assessment |
9.1 India IoT Market Opportunity Assessment, By Components , 2022 & 2029F |
9.2 India IoT Market Opportunity Assessment, By Verticals , 2022 & 2029F |
9.3 India IoT Market Opportunity Assessment, By Organization Size, 2022 & 2029F |
9.4 India IoT Market Opportunity Assessment, By Focus Area, 2022 & 2029F |
10 India IoT Market - Competitive Landscape |
10.1 India IoT Market Revenue Share, By Companies, 2022 |
10.2 India IoT Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |