As per MRFR analysis, the India Agile IoT Market Size was estimated at 3.49 (USD Billion) in 2023. The India Agile IoT Market is expected to grow from 4.5(USD Billion) in 2024 to 22 (USD Billion) by 2035. The India Agile IoT Market CAGR (growth rate) is expected to be around 15.52% during the forecast period (2025 - 2035)
Key India Agile IoT Market Trends Highlighted
The India Agile IoT market is seeing several key trends driven by the growing adoption of IoT technologies across various sectors. There is a robust push towards automation and data-driven decision-making in industries like manufacturing, healthcare, and agriculture, encouraged by government initiatives such as Make in India and Digital India. These policies support innovation, leading to increased investment in IoT solutions that enhance efficiency and connectivity.
Moreover, connectivity advancements, such as the rollout of 5G networks, are further propelling the Agile IoT sector by enabling faster communication and more reliable connections.For companies investigating new IoT applications and developers looking for sustainable practices and better urban living conditions, the growing attention on smart cities presents a big potential. Furthermore, the continuous digital transformation of Indian companies provides a rich environment for Agile IoT solutions, particularly in improving supply chain management and customer experience.
To use IoT capabilities, startups and established companies have been working together more recently, signifying a move toward innovation and agile approaches. Furthermore, companies are investing in IoT device security as more people pay cybersecurity issues more attention, thus strengthening user acceptance and confidence.
As India progresses towards becoming a global IoT hub, aligning with international standards and best practices will be crucial for leveraging potential growth and staying competitive in the agile environment.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
India Agile IoT Market Drivers
Increasing Demand for Smart Cities in India
The push for smart cities across India is a significant driver for the India Agile IoT Market. With the Indian government aiming to develop 100 smart cities as part of the Smart Cities Mission, there is a substantial increase in the deployment of IoT technologies that enable efficient management of city resources and services. According to the Ministry of Housing and Urban Affairs, there is an estimated investment of over 2 trillion Indian Rupees in creating these smart infrastructures.
The integration of Agile IoT solutions is vital for smart infrastructure such as intelligent traffic management systems, waste management, and energy-efficient buildings. Companies like Siemens and Cisco are leveraging their expertise in IoT technologies to implement smart solutions, thus enhancing the overall growth potential of the India Agile IoT Market.
Rising Adoption of Industry 4.0 Practices
The adoption of Industry 4.0 practices in manufacturing is driving the growth of the India Agile IoT Market. With Indian manufacturing units focusing on increasing productivity and minimizing downtime, there has been a significant shift towards utilizing IoT technologies for real-time monitoring and analytics. According to the Ministry of Heavy Industries and Public Enterprises, the manufacturing sector in India is expected to reach a size of 5 trillion US Dollars by 2025.
This rapid growth in manufacturing demands the integration of IoT solutions that facilitate operational efficiencies. Key players such as Tata Consultancy Services and Infosys are already investing heavily in developing Agile IoT solutions tailored for the manufacturing sector.
Government Initiatives for Digital Transformation
The Indian government's focus on digital transformation initiatives is a prominent driver for the India Agile IoT Market. As part of the Digital India program, the government is promoting the use of technology in various sectors. For example, the government launched the National Policy on Software Products to significantly boost software development in India, which encompasses IoT technologies.
It is estimated that the digital economy in India will reach a substantial size of approximately 1 trillion US Dollars by 2025, according to the Ministry of Electronics and Information Technology.This environmentally conducive legislative framework creates a vibrant ecosystem for Agile IoT technologies, with established players like HCL Technologies and Wipro actively participating and shaping the market.
India Agile IoT Market Segment Insights
Agile IoT Market Component Insights
The Component segment of the India Agile IoT Market plays a crucial role in the overall development and enhancement of various industries across the country. With the market poised for substantial growth, it encompasses vital categories such as Hardware and Software, both of which are foundational to the functioning of IoT solutions. In India, the demand for innovative Hardware solutions continues to surge, supported by the increasing adoption of smart devices across sectors like manufacturing, agriculture, and urban development. This growth can be attributed to the Indian government's initiatives promoting digital transformation and smart city projects aimed at improving infrastructure and services.
On the other hand, the Software aspect of the Component segment is equally significant, as it facilitates seamless connectivity and data management in IoT systems. The Software provides the necessary platforms and applications for data analytics, device management, and security, thus ensuring efficient operations. Furthermore, as businesses embrace data-driven decision-making, the need for advanced Software solutions has become paramount, leading to innovation in areas such as cloud computing, machine learning, and edge computing. Together, these components drive the evolution of the Agile IoT Market in India, creating opportunities for developers and manufacturers who aim to harness the full potential of IoT technologies.
As India continues to solidify its position as a global technology hub, the Component segment of the Agile IoT Market is expected to remain pivotal in shaping the landscape of digital solutions, enhancing productivity, and fostering innovation in various sectors across the nation. The increased focus on improving operational efficiency and reducing costs further intensifies the significance of both Hardware and Software in facilitating the digital transformation journey for businesses in India. The convergence of these technologies stands as a testament to the potential of the India Agile IoT Market to foster a highly connected and automated ecosystem, showcasing the importance of understanding the nuances of each segment within the market for informed decision-making and strategic investments.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Agile IoT Market Deployment Insights
The Deployment segment of the India Agile IoT Market holds significant importance as organizations increasingly adopt connected solutions across various industries. With the overall market projected to reach considerable valuations in the near future, the Deployment segment is expected to play a crucial role in this growth trajectory. The market segmentation is primarily categorized into On-premises and Cloud solutions, each catering to different organizational needs. On-premises deployment offers enhanced security and control, making it a preferred choice for industries with strict data regulations, such as finance and healthcare.
On the other hand, Cloud solutions provide flexibility and scalability, allowing businesses to quickly adapt to changing demands. The shift towards Cloud based implementations reflects an ongoing trend driven by cost efficiency and accessibility. The robust technological infrastructure in India further drives the acceptance of these deployments, supported by government initiatives for digital transformation. As the demand for Agile IoT solutions increases across sectors, both On-premises and Cloud deployment will significantly contribute to the forward momentum of the India Agile IoT Market, ultimately enhancing operational efficiencies and enabling innovation across the industry.
Agile IoT Market Organization Size Insights
The India Agile IoT Market exhibits diverse opportunities across different organization sizes, reflecting a significant shift in adoption and innovation. Large enterprises are often at the forefront due to their capacity for substantial investments in agile IoT solutions, driving advancements in automation and efficiency. Meanwhile, medium-sized organizations leverage the growing availability of budget-friendly technology to enhance their operations, resulting in a notable increase in competitive positioning. Small enterprises, while smaller in scale, contribute to the Agile IoT landscape by embracing adaptive methodologies and faster decision-making processes, which can lead to efficient implementations of IoT solutions.
The segmentation of the India Agile IoT Market by organization size reveals distinct dynamics where large players dominate in resources and market share, whereas medium and small organizations are increasingly significant as they adopt more accessible technologies. These varied organizational structures collectively pave the way for overall market evolution, highlighting trends such as increased digital transformation, the rise of smart systems, and the ongoing need for enhanced connectivity.
Agile IoT Market Connectivity Insights
The Connectivity segment of the India Agile IoT Market plays a vital role in facilitating seamless communication and data transfer among devices. As the market evolves, technologies such as Local Area Network (LAN), Wi-Fi, and Li-Fi become increasingly significant. LAN solutions enable effective connectivity for enterprises in urban areas, where rapid industrialization is driving the adoption of IoT applications. Wi-Fi continues to be the backbone of wireless connectivity, supporting diverse applications from smart homes to enterprise networking, as urban millennials seek high-speed internet access for various IoT devices.Li-Fi, while still emerging, offers a unique advantage by utilizing light for high-speed data transmission, presenting opportunities in settings where traditional wireless connections may be insufficient.
In India, as the government pushes for digital transformation initiatives and smart city projects, the need for robust and reliable connectivity solutions is essential. This scenario has led to increased investments in these technologies, enhancing their importance within the Agile IoT Market. Moreover, the expanding IoT ecosystem in India necessitates innovative connectivity solutions to cater to the growing demands of industries, thereby driving significant advancements in this segment.
India Agile IoT Market Key Players and Competitive Insights
The India Agile IoT Market is rapidly evolving, driven by the increasing adoption of digital technologies and a growing demand for automation and connectivity across various sectors. Competitive insights within this market reveal a dynamic landscape where numerous players strive for innovation and market share. Companies in this space are leveraging advanced IoT solutions to enhance operational efficiency, reduce costs, and create value through data-driven decision-making. As the market matures, organizations are focusing on building strategic partnerships, investing in research and development, and expanding their service portfolios to capture new customer segments. This competitive environment underscores the importance of agility and technological advancement as businesses navigate the challenges and opportunities presented by the Internet of Things.
Tech Mahindra stands out in the India Agile IoT Market with a robust portfolio of services that cater to various industries, including manufacturing, automotive, and healthcare. The company is recognized for its strengths in providing innovative solutions that integrate IoT technologies with agile methodologies. Tech Mahindra's deep industry expertise enables it to create customized offerings that meet the unique needs of its clients. Its extensive network of partnerships and collaborations with technology providers bolsters its market presence and enhances its capability to deliver cutting-edge IoT solutions.
Furthermore, Tech Mahindra's commitment to fostering a culture of innovation is evident in its investment in IoT-focused research and development initiatives, which position the company as a leader in the Indian market for agile IoT services.Cognizant has made significant strides in the India Agile IoT Market by delivering a wide range of solutions and services tailored to help businesses leverage IoT for improved performance and enhanced customer experiences. The company focuses on integrating IoT technologies with advanced analytics and artificial intelligence, enabling clients to gain actionable insights from their data. Cognizant's strengths lie in its ability to manage complex IoT deployments and provide end-to-end services that include strategy, implementation, and support.
The company's presence in India is marked by strategic acquisitions that have bolstered its technological capabilities and expanded its service offerings. Cognizant's contribution to the IoT landscape in India highlights its commitment to innovation, a customer-centric approach, and a firm belief in harnessing the power of connected devices to drive business transformation.
Key Companies in the India Agile IoT Market Include
India Agile IoT Market Developments
Recent developments in the India Agile IoT Market highlight significant advancements and partnerships among key players. Tech Mahindra and Infosys have been focusing on enhancing their IoT platforms, catering to sectors like manufacturing and healthcare. In August 2023, L&T Technology Services announced a collaboration with GE Digital to drive digital transformations through IoT technologies, aiming to improve operational efficiency. Siemens India has also been actively involved in smart infrastructure projects, which bolsters the country's push towards digitalization.In the realm of mergers and acquisitions, in July 2023, Schneider Electric acquired a minority stake in a promising IoT startup in India to strengthen its smart solutions offerings.
Furthermore, in May 2023, Wipro expanded its partnership with Amazon Web Services to leverage cloud and IoT capabilities for innovative service solutions. Market valuation for agile IoT solutions in India has seen robust growth, with projections indicating substantial hikes driven by increased adoption across industries. This is reflected in the expansion of Microsoft India and IBM India's IoT services, addressing the burgeoning demand for smart, connected solutions amidst India's digital economy growth. In the past few years, significant advancements have been noted, emphasizing India's commitment to harnessing IoT for future developments.
India Agile IoT Market Segmentation Insights
Agile IoT Market Component Outlook
Agile IoT Market Deployment Outlook
Agile IoT Market Organization size Outlook
Agile IoT Market Connectivity Outlook
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2023 | 3.49(USD Billion) |
| MARKET SIZE 2024 | 4.5(USD Billion) |
| MARKET SIZE 2035 | 22.0(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 15.52% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Billion |
| KEY COMPANIES PROFILED | Tech Mahindra, Cognizant, L&T Technology Services, Siemens India, GE Digital, Schneider Electric, Wipro, Infosys, Microsoft India, SAP India, HCL Technologies, Cisco Systems, Tata Consultancy Services, IBM India, Amazon Web Services |
| SEGMENTS COVERED | Component, Deployment, Organization size, Connectivity |
| KEY MARKET OPPORTUNITIES | Smart city infrastructure development, Manufacturing process optimization, Healthcare IoT integration, Agricultural automation solutions, Enhanced data security measures |
| KEY MARKET DYNAMICS | Rapid digital transformation, Increased adoption of smart devices, Growing urbanization and infrastructure development, Rising demand for automated solutions, Government initiatives for IoT innovation |
| COUNTRIES COVERED | India |
Frequently Asked Questions (FAQ) :
The India Agile IoT Market is expected to be valued at 4.5 USD Billion in 2024.
By 2035, the India Agile IoT Market is projected to reach a valuation of 22.0 USD Billion.
The expected CAGR for the India Agile IoT Market from 2025 to 2035 is 15.52%.
The hardware segment is expected to grow from 1.5 USD Billion in 2024 to 7.5 USD Billion by 2035.
The software component is anticipated to grow from 3.0 USD Billion in 2024 to 14.5 USD Billion by 2035.
Major players include Tech Mahindra, Cognizant, L&T Technology Services, Siemens India, GE Digital, and Schneider Electric.
Current global conflicts may create uncertainties but provide opportunities for market adaptations and innovations.
Applications in smart cities, industrial automation, and health monitoring are among the key growth drivers.
The software segment is expected to hold a significant portion of the market share due to its growing applications.
Major metropolitan areas in India are likely to experience higher growth rates compared to rural regions due to better infrastructure.
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Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
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