India IoT Connectivity Market Size 2023 | Worth US$ 197 Million by 2028 | Growth Rate (CAGR) of 20.3% | IMARC Group

The latest research study "India IoT Connectivity Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that The India IoT connectivity market size 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 (IoT) connectivity is a network solution that connects IoT devices, including sensors, trackers, gateways, and routers. It relies on various solutions depending on the bandwidth, range, and power consumption. Some commonly used communication technologies for connecting IoT devices are low-power WAN, satellite, cellular, and short-range wireless. They send limited amounts of data wirelessly from specialized base stations to sensors and devices. As a result, IoT connectivity is widely adopted across retail, transportation and logistics, healthcare, and manufacturing industries across India.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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India IoT Connectivity Market Trends and Drivers: 

The market is primarily driven by the growing reliance of several organizations on IoT-based solutions to enhance their productivity and create new business models. In addition, the rising automation in industrial processes is escalating the demand for IoT connectivity to streamline processes, reduce time-to-market, monitor products, and address quality defects. Besides this, the Government of India (GoI) is investing in the development of smart cities, which is also accelerating the product adoption rate across the country. IoT connectivity aids in improving building performance, reducing energy consumption, and enhancing space management. This, coupled with the increasing deployment of 5G networks and multi-access edge computing (MEC), is positively influencing the market growth. Moreover, the rising product adoption in the healthcare industry to enable remote monitoring and improve patient care is also creating a favorable market outlook in India.

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India IoT Connectivity Market Report Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

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.

The report has been segmented the market into following categories:

Component Insights

Platform
Services

Application Insights

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

Enterprise Size Insights

Small and Medium-sized Enterprises
Large Enterprises

End Use Industry Insights

Transportation
Manufacturing
Energy and Utilities
Healthcare
Retail
Residential
Government
Insurance
Others

Regional Insights

North India
West and Central India
South India
East India

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This release was published on openPR.