India IoT (Internet of Things) Market To Expand At A CAGR of 17.1% During Forecast Period 2016-2024

According to Goldstein Research, digital economy of India is poised to reach USD 1 trillion in the next 5-7 years and new advanced technologies like IoT, machine learning, artificial intelligence, cyber security etc will play a vital role in the growth of the digital economy. India Internet of Things (IoT) market trends report also includes product innovation, technological advancements, and acquisitions as the key competitive strategies adopted by the major players in the India IoT market.

Further, growing spending by major technology companies on research and development of innovative and advanced IoT technology along with rising internet penetration are some of the major reasons behind the spiked growth of India IoT market. The IoT uprising in India is already catching on with cumulative government and venture capital investments pouring into supporting startups working on real-use cases addressing unique challenges like traffic management, surveillance and safety, smart homes in urban settings and so on.

Market Segmentation

On the basis of our in-depth analysis, India internet of things market can be segmented as follows:

  • By Components
    • Devices
      • Wearable Devices
      • Non-Wearable Devices
    • Sensors & Actuators
    • By Platforms
      • By Connectivity/M2M Platforms
      • By Infrastructure-as-a-Service (Iaas) Backend Platforms
      • By Hardware Specific Software Platform
      • By Consumer/Enterprise Software Extension Platforms
    • By Software
      • By Data Management Software
      • By Network Management Software
      • By Real Time Streaming Analysis Software
      • By Security Software
      • By Remote Monitoring Software


  • By Verticals
    • Consumer Electronics
    • Construction
    • Transportation & Logistics
    • Manufacturing
    • Retail
    • Energy
    • Enterprise
    • Agriculture
    • Healthcare
    • Miscellaneous (Education, etc)


  • Based on Geography
    • Tier- I Cities IoT Market
    • Tier- II Cities IoT Market
    • Tier- III Cities IoT Market

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India Internet of Things Market Outlook 2024contains a detailed overview of the India IoT market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by components and by verticals.

Further, for the in-depth analysis, India Internet of Things Market Analysis encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as MangoMan Consumer Electronics, Sensara, Lycos Internet, Altiux, Altizon Systems, Cooey etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments.

Overall, the report represents the India Internet of Things market trends along with the market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

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