The proliferation of devices such as sensors, elastic repositories for storing and analyzing the data with cloud and big data, the convergence of information technology and operational technology to create a new revolution and increasing penetration of internet are the major growth drivers of the India IoT market.
India IoT Market 2024
According to Goldstein Research, India IoT market size is set to reach USD 20 billion by 2024, at a CAGR of 17.1% over the forecast years owing to the convergence of the Internet and industrial networks. Geographically, Bangalore is the hub for IoT startups in India and acquires 51% of total startups in India. While India IoT market tends to account for 6% of global IoT market by 2024.
Interconnected Personalized Experience
Most wanted IoT devices are a refrigerator, light bulb, sprinkler system, tab water filter, washer and dryer, with this amazing power of interconnectivity all these little gadgets come to life making sure everything’s working as expected. Google, Apple, Tesla, Uber, and Lyft are all investing significant amounts of money into building cars that will eventually drive themselves. Remote diagnostics platform of Volvo trucks sends automated alerts to the companies regarding vehicle performances.
India IoT Market
This report contains a detailed overview of the India IoT market in terms of market segmentation by component and verticals. Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
India IoT Market report also provides competitive outlook for some of the major players which includes profiling of companies such as Intel, Microsoft, Cisco, Google, IBM, Samsung, Apple, SAP, Gartner, Oracle, General Electric, ARM, Accenture, Amazon, HP, Arduino, IDC, Blackberry, PTC, and Verizon. 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 comprehensive synopsis on the India IoT market that will help industry consultants, equipment manufacturers, 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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