At CAGR of 20.3%, IoT Connectivity Market Size in India Projected To Surpass US$ 197 Million by 2028

Published February 13, 2023

The latest research study “India IoT Connectivity Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the IoT connectivity market size in India reached US$ 55 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 197 Million by 2028, exhibiting a growth rate (CAGR) of 20.3% during 2023-2028.

Internet of Things or IoT connectivity represents network solutions that offer a communication platform and infrastructure to connect IoT devices, including trackers, sensors, gateways, routers, etc. The communication technologies utilized for connecting IoT devices include low-power WAN, cellular, satellite, short-range wireless, etc. These IoT connectivity systems are a viable choice, especially for large machines that are stationary, can send limited amounts of data wirelessly from specialized base stations to devices and sensors, and provide ubiquitous coverage. Consequently, they find extensive applications across numerous sectors in India, such as healthcare, transportation, retail, logistics, manufacturing, etc.,

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India IoT Connectivity Market Trends and Drivers:

The increasing dependence of several organizations on IoT-based solutions to boost their productivity and create new business models and revenue streams is primarily driving the India IoT connectivity market. In addition to this, the emerging trend of automation in industrial processes and the elevating need for monitoring products continuously, streamlining processes, reducing time-to-market, and addressing quality defects in real-time are acting as significant growth-inducing factors. Apart from this, the growing adoption of IoT-enabled devices in the healthcare segment to monitor patients remotely and enhance care quality is also positively influencing the market across India. Moreover, the rising sales of connected cars, owing to the shifting preferences toward luxurious driving experiences and the inflating investments by government bodies to promote the development of smart cities for lowering energy consumption, enhancing building performance, improving urban space management, etc., are further catalyzing the market growth. Besides this, the expanding deployment of 5G networks and multi-access edge computing (MEC) to facilitate uninterrupted device connectivity is expected to bolster the India IoT connectivity market in the coming years.

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India IoT Connectivity Market Report Segmentation:

The report has been segmented the market into following categories:

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

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

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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