India IoT Connectivity Market

Market Overview:

The India IoT connectivity market size reached US$ 66.2 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 309.0 Million by 2032, exhibiting a growth rate (CAGR) of 18.68% during 2024-2032. The emerging automation trend in industrial processes, the increasing sales of connected cars, and the widespread adoption of IoT-enabled devices in the healthcare industry represent some of the key factors driving the market.

Internet of Things (IoT) connectivity refers to a network solution that provides a communication platform and infrastructure for connecting IoT devices, including sensors, trackers, gateways, routers, etc. IoT projects vary in their requirements, and many of them use various connectivity options depending on their needs, such as power consumption, range, bandwidth, etc. Numerous communication technologies are used for connecting the IoT devices, such as low-power WAN, satellite,  cellular, short-range wireless, etc. Ethernet connections are a viable choice for large machines that are stationary and don't need to move. LPWAN IoT protocols are used to send limited amounts of data wirelessly from specialized base stations to sensors and devices. Satellites provide ubiquitous coverage for IoT devices as they can connect to them with limited to no ground-based IoT connection. Wi-Fi aids in linking IoT devices, including sensors, security cameras, etc., for homes and businesses. As a result, IoT connectivity is widely employed across various sectors, including retail, healthcare, transportation and logistics, manufacturing, etc.

The rising dependence of several organizations on IoT-based solutions for boosting their productivity and creating new business models and revenue streams is primarily driving the India IoT connectivity market. In addition to this, the emerging automation trend in industrial processes is further propelling the need for IoT connectivity to monitor products continuously, streamline processes, reduce time-to-market, and address quality defects in real-time. Moreover, the widespread adoption of IoT-enabled devices in the healthcare industry for remote monitoring and improving patient care is also augmenting the product demand in the country. Besides this, the increasing sales of connected cars owing to rising preferences for luxurious driving experiences are further bolstering the requirement for IoT connectivity to aid device-to-device communication. Additionally, the inflating investments by numerous government bodies in the development of smart cities are also expanding the applications of IoT connectivity. It assists in reducing energy consumption, improving building performance, enhancing urban space management, etc. Apart from this, the increasing deployment of 5G networks and multi-access edge computing (MEC) to enhance device connectivity is acting as a significant growth-inducing factor. Furthermore, numerous medium and large-scale organizations across the country are adopting long-term evolution for machines (LTE-M) solutions to provide enhanced end-to-end security, device-level access, encrypted data transfer, etc., which is expected to fuel the India IoT connectivity market during the forecasted period.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the India IoT connectivity market, along with forecasts at the country level from 2024-2032. Our report has categorized the market based on component, application, enterprise size, and end use industry.

Component Insights:

• Platform
• Services
   

The report has provided a detailed breakup and analysis of the India IoT connectivity market based on the component. This includes platform and services. According to the report, platform represented the largest segment.

Application Insights:

• Buildings and Home Automation
• Smart Energy and Utility
• Smart Manufacturing
• Smart Retail
• Smart Transportation
• Others
   

A detailed breakup and analysis of the India IoT connectivity market based on the application has also been provided in the report. This includes buildings and home automation, smart energy and utility, smart manufacturing, smart retail, smart transportation, and others. According to the report, buildings and home automation accounted for the largest market share.

Enterprise Size Insights:

• Small and Medium-sized Enterprises
• Large Enterprises
   

The report has provided a detailed breakup and analysis of the India IoT connectivity market based on the enterprise size. This includes small and medium-sized enterprises and large enterprises. According to the report, large enterprises represented the largest segment.

End Use Industry Insights:

• Transportation
• Manufacturing
• Energy and Utilities
• Healthcare
• Retail
• Residential
• Government
• Insurance
• Others
   

A detailed breakup and analysis of the India IoT connectivity market based on the end use industry has also been provided in the report. This includes transportation, manufacturing, energy and utilities, healthcare, retail, residential, government, insurance, and others. According to the report, transportation accounted for the largest market share.

Regional Insights:

• North India
• West and Central India
• South India
• East India
   

The report has also provided a comprehensive analysis of all the major regional markets that include North India, West and Central India, South India, and East India. According to the report, West and Central India was the largest market for IoT connectivity. Some of the factors driving the West and Central India IoT connectivity market included the rising dependence on IoT-based solutions, the development of smart cities, the increasing deployment of 5G networks, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the India IoT connectivity market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Ericsson, Cisco Systems, Inc., Orange Business Services, Bharti Airtel Limited, Vodafone, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the India IoT connectivity market performed so far and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the India IoT connectivity market?
• What are the key regional markets?
• What is the breakup of the market based on the component?
• What is the breakup of the market based on the application?
• What is the breakup of the market based on the enterprise size?
• What is the breakup of the market based on the end use industry?
• What is the competitive structure of the India IoT connectivity market?
• Who are the key players/companies in the India IoT connectivity market?
   

Key Benefits for Stakeholders: 

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India IoT connectivity market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the India IoT connectivity market.
• The study maps the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India IoT connectivity industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.