The Indian internet of things (IoT) market is expected to expand at a compound annual growth rate of 13.2% from 2020 to 2025.
This report includes market sizing across the entire IoT value chain, such as hardware, connectivity protocols, application and platforms, system integration, and consulting services, and covers market trends affecting the IoT market in terms of innovation and deployment, including Mega Trends and technology trends.
The study also shares insights on the IoT market by industry vertical and application/use case, identifying the key domains with the highest investment in IoT deployment. The report maps the opportunity universe for IoT vendors within the IoT value chain and presents high-potential business applications and key market verticals for revenue opportunities.
IoT adoption is growing in India, but enterprises struggle with legacy setups, connectivity protocols, and high costs associated with large-scale IoT deployment. IoT vendors can help enterprises in their digital transformation, including automation, by offering their global expertise and portfolio of IoT products and services.
Apart from developing in-house capabilities, vendors should partner with value ecosystem participants to capitalize on advanced technologies, such as Big Data analytics, artificial intelligence and machine learning, new connectivity protocols, and blockchain, to stay ahead of the curve and address the rising demand for IoT solutions.
India is a hotbed of opportunities for IoT providers, and the country’s IoT ecosystem is expected to continue growing to offer entire new streams of revenue.
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