The latest report published by IMARC Group, titled “India Internet of Things Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on India Internet of Things market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The India internet of things market size reached US$ 1.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.2 Billion by 2028, exhibiting a growth rate (CAGR) of 14.23% during 2023-2028.
The internet of things (IoT) is an interconnected system of internet-enabled devices that automatically collect and transmit data over a wireless network. It relies on machine learning (ML) or artificial intelligence (AI) technologies to analyze data and offer businesses access to advanced analytics by collecting data on customer behavior. It assists in enhancing security by monitoring both digital and physical infrastructure, optimizing performance, increasing efficiency, and reducing safety risks. As a result, it is widely used in various sectors, such as retail, government, manufacturing, agriculture, and transportation in India.
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Market Trends:
The increasing demand for automation and digitalization across numerous industries is driving the IoT market in India. Furthermore, the growing adoption of smart devices and connected technologies in both consumer and industrial settings is contributing to the market. Apart from this, the rising trend of connected homes and buildings is acting as another growth-inducing factor. Moreover, the emergence of new technologies such as 5G networks and edge computing is further fueling the market as it provides faster, more reliable connectivity. Besides this, the growing employment of IoT in the healthcare industry for real-time monitoring of patients by accessing vital signs, tracking medication adherence and providing remote consultations enhancing connectivity is creating a positive market outlook.
India Internet of Things Market Segmentation:
Our report has categorized the market based on region, component, application and vertical.
Breakup by Component:
- Hardware
- Software
- Services
- Connectivity
Breakup by Application:
- Smart Home
- Smart Wearables
- Smart Cities
- Smart Grid
- IoT Industrial Internet
- IoT Connected Cars
- IoT Connected Healthcare
- Others
Breakup by Vertical:
- Healthcare
- Energy
- Public and Services
- Transportation
- Retail
- Individuals
- Others
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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