India IoT Connectivity Market to Reach US$ 197 Million by 2028, Propelled by Rising Demand for Industrial Automation

April 14, 2023 | Technology & Media

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According to the latest report by IMARC Group, titled “India IoT connectivity Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the India IoT connectivity market size reached US$ 55 Million in 2022. Internet of Things (IoT) connectivity refers to network solutions that provide a platform for connecting IoT devices, such as sensors, trackers, and routers. It includes various communication technologies, such as Wi-Fi, Bluetooth, ZigBee, cellular network, ethernet, near-field communication (NFC), and long-range wireless technology. IoT connectivity is widely used in smart homes, industrial processes, remote patient monitoring, traffic management, surveillance systems, and health tracking. It offers real-time analysis and automation capabilities, which improves operational efficiency, optimizes manufacturing processes, boosts productivity, reduces downtime, and minimizes errors. IoT connectivity also aids in enhancing user safety, increasing convenience, promoting better health, and providing a personalized experience.

India IoT Connectivity Market Trends:

The rising demand for industrial automation is one of the key factors driving market growth in India. IoT connectivity is widely used across industries to control manufacturing processes, implement predictive maintenance, improve supply chains, track assets, and inventories, monitor product quality, and optimize energy consumption. Furthermore, the implementation of various initiatives by the Government of India (GoI), such as the Digital India Program and Smart Cities Mission (SCM), which aims to improve urban infrastructures and services through IoT solutions, is providing an impetus to the market growth. Additionally, the introduction of the fifth-generation (5G) communication technology that enables high-speed data transfer, offers low latency, and provides network slicing capabilities, which improves the efficiency of IoT devices and enhances network coverage, is positively influencing the market growth. Apart from this, the integration of blockchain technology to manage device identity and authentication, ensure data integrity, promote transparency, and enhance the security and reliability of IoT networks is providing a considerable boost to the market growth. Moreover, the increasing adoption of IoT connectivity in the healthcare industry to monitor patients’ health, enable remote consultation and telemedicine services, improve medication adherence, and track vital signs, such as heart rate, blood pressure, and body temperature, is propelling the market growth. Other factors, including rapid industrialization, extensive research and development (R&D) activities, and the growing demand for real-time data analytics, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 197 Million by 2028, exhibiting a CAGR of 20.3% during 2023-2028.

Market Summary:

On the basis of the component, the market has been bifurcated into platform and services. Among these, platform represented the largest segment.
Based on the application, the market has been classified into buildings and home automation, smart energy and utility, smart manufacturing, smart retail, smart transportation, and others. Currently, buildings and home automation account for the largest market share.
On the basis of enterprise size, the market has been categorized into small and medium-sized enterprises and large enterprises. At present, large enterprises represent the largest segment.
Based on the end use industry, the market has been divided into transportation, manufacturing, energy and utilities, healthcare, retail, residential, government, insurance, and others. Among these, transportation accounted for the largest market share.
On a regional basis, the market has been categorized into North, West and Central, South, and East India. Among these, West and Central India represented the largest market.
The competitive landscape of the industry has also been examined, with some of the key players being Ericsson, Cisco Systems, Inc., Orange Business Services, Bharti Airtel Limited, Vodafone, etc.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Million
Segment Coverage	Component, Application, Enterprise size, End Use Industry, Region
Region Covered	North India, West and Central India, East India, South India
Companies Covered	Ericsson, Cisco Systems, Inc., Orange Business Services, Bharti Airtel Limited, Vodafone, etc.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 4499 Five User License: US$ 5999 Corporate License: US$ 7499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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India IoT Connectivity Market to Reach US$ 197 Million by 2028, Propelled by Rising Demand for Industrial Automation

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