India Blockchain IoT Market Research Report By Application (Supply Chain Management, Healthcare, Smart Cities, Energy Management, Agriculture), By Technology (Public Blockchain, Private Blockchain, Hybrid Blockchain, Blockchain as a Service, Permissioned Blockchain), By End Use (Industrial, Commercial, Residential, Government, Transportation), and By Connectivity (Wireless Connectivity, Wired Connectivity, Bluetooth Connectivity, Cellular Connectivity, LPWAN Connectivity)- Forecast to 2035

India Blockchain IoT Market Overview

As per MRFR analysis, the India Blockchain IoT Market Size was estimated at 233.85 (USD Million) in 2023.The India Blockchain IoTMarket is expected to grow from 273(USD Million) in 2024 to 1,925 (USD Million) by 2035. The India Blockchain IoT Market CAGR (growth rate) is expected to be around 19.431% during the forecast period (2025 - 2035).

Key India Blockchain IoT Market Trends Highlighted

A number of major market drivers, such as the government's push towards digitalization, notably through programs such as Digital India, are contributing to the tremendous growth that the Blockchain Internet of Things industry in India is in the process of experiencing.

By doing so, we hope to improve connection and encourage the widespread adoption of cutting-edge technologies across all industries. Businesses are being driven to investigate blockchain solutions that are capable of integrating with Internet of Things devices as a result of the growing demand for transparency and security in data management.

These technologies are being adopted by various industries, including agriculture, healthcare, and logistics, in order to increase data traceability and simplify operations more effectively. In addition, the growing demand for smart cities is supported by the integration of blockchain technology and the internet of things, which results in the creation of effective urban management systems.

There are a lot of opportunities available in the Indian market because there is a rising interest from newly established firms as well as traditional organizations that are looking to innovate in areas such as energy management and supply chain management.

In addition, the government is investigating potential uses in fields such as land registries and identity verification, which presents an environment that is ripe for technological improvements. It is possible to take advantage of this great chance to enter into these ever-changing industries through collaborations between technology companies and government efforts.

There has been a discernible movement in recent times toward the creation of platforms that make use of both the Internet of Things (IoT) and blockchain technology in order to facilitate efficient data sharing and analysis. Businesses are increasingly turning to decentralized solutions in order to improve operational efficiencies, reduce risks, and increase the level of trust that exists between individual parties.

Additionally, it is anticipated that the introduction of 5G technology would considerably improve the capabilities of Internet of Things devices, which will continue to fuel growth in this industry. The merging of blockchain technology and the Internet of Things in India represents a disruptive shift that has the potential to revolutionize the way in which different industries function and interact with one another.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

India Blockchain IoT Market Drivers

Increasing Government Initiatives

The Indian government has shown a strong commitment to fostering innovation in technology, particularly in the fields of Blockchain and Internet of Things (IoT). The Digital India movement aims to transform India into a digitally empowered society, and this initiative opens doors for the development of the India Blockchain IoT Market.

The Ministry of Electronics and Information Technology (MeitY) promotes Research and Development (R&D) in these areas, which indicates a significant focus on encouraging startups and technology-led companies. According to the Ministry's reports, over 1,600 startups focused on Blockchain have emerged in India recently, highlighting the burgeoning interest and investment in this sector.

This government backing does not just introduce favorable regulations; it also brings funding and resources, allowing for a fertile ground for the growth of the India Blockchain IoT Market. Furthermore, initiatives like the Atal Innovation Mission aim to propel technology adoption, significantly amplifying the prospects for Blockchain and IoT companies.

Rising Adoption of IoT Devices

India has been witnessing an exponential rise in the adoption of IoT devices, projected to reach over 1.9 billion connected devices by 2025. This significant uptake is driven by diverse sectors such as agriculture, healthcare, and smart cities, which are increasingly relying on data to make informed decisions.

Established organizations like Tata Consultancy Services (TCS) and Infosys have already begun integrating IoT solutions across various verticals. Such widespread implementation fuels the demand for Blockchain technology, which ensures data security and integrity in IoT networks, thus enhancing the trust of end-users.

In fact, the National Association of Software and Service Companies (NASSCOM) indicates that an estimated growth of 30% in IoT applications is expected in India over the next few years, providing crucial support for the India Blockchain IoT Market.

Need for Enhanced Security

As the use of IoT devices increases in India, the concern for data security and privacy becomes paramount. Cybersecurity threats are on the rise, with a reported increase of nearly 300% in cyber-attacks across the country, as per the Indian Computer Emergency Response Team (CERT-In).

This alarming statistic is driving organizations to seek solutions that offer enhanced security measures. Blockchain technology provides an innovative approach to securing IoT networks through its decentralized structure and transactive capabilities.

Companies like Wipro and HCL Technologies are heavily investing in Blockchain solutions to safeguard sensitive data, thereby creating an environment that promotes trust. Thus, the need for enhanced security is a critical driver supporting the growth of the India Blockchain IoT Market.

India Blockchain IoT Market Segment Insights

Blockchain IoT Market Application Insights

The India Blockchain IoT Market, particularly within the Application segment, is evaluating diverse sectors that are increasingly integrating these technologies into their operations.Supply Chain Management has emerged as a significant arena where blockchain technology enhances transparency and traceability, ensuring that all stakeholders in the supply chain can access real-time information, thus reducing delays and preventing fraud.

In the Healthcare sector, the combination of Blockchain and IoT is fostering secure patient data management and enabling more efficient tracking of medical supplies, which is vital for improving healthcare delivery in India's vast and diverse population.

Smart Cities are quickly embracing Blockchain IoT for various applications, such as managing urban infrastructure, traffic systems, and public safety, allowing for enhanced citizen engagement and improved resource allocation.Energy Management is another critical field, as Blockchain technology aids in facilitating peer-to-peer energy trading and optimizing the management of renewable energy sources, aligning with India's goals towards sustainable development.

Agriculture is also leveraging these technologies; farmers are now able to monitor crop conditions and market prices in real-time, ensuring better yield management and profitability.Overall, the Application segment of the India Blockchain IoT Market is witnessing rapid advancements, driven by a combination of government initiatives, technological innovations, and growing consumer demand, while each area presents unique opportunities and challenges that could significantly impact market growth in the years to come.

The integration of these technologies addresses various industry pain points, leading to operational efficiencies, cost savings, and enhanced transparency, making it imperative for sectors in India to adapt and invest in Blockchain IoT solutions for future readiness.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Blockchain IoT Market Technology Insights

The India Blockchain IoT Market, particularly within the Technology segment, has shown notable evolution and potential. Public Blockchain technology has become increasingly significant in enabling transparency and security, driving its adoption across various sectors, while Private Blockchain is favored for its enhanced privacy features, making it ideal for enterprises needing controlled access.

Hybrid Blockchain is emerging as a preferred option, as it combines the benefits of both public and private variants, providing adaptability for different use cases. Blockchain as a Service is also gaining traction, as it allows organizations to leverage blockchain capabilities without the complexities of building their own infrastructure, thus simplifying the integration process.

Permissioned Blockchain plays a crucial role in situations where certain access restrictions are necessary, allowing organizations to maintain authority over data and transactions. Collectively, these dimensions of the Technology segment facilitate enhanced efficiency, security, and cost-effectiveness, thereby contributing to the overall growth dynamics in the India Blockchain IoT Market.

The ongoing digital transformation and governmental support for blockchain initiatives further bolster the demand for these technologies, as India's tech landscape continues to explore innovative solutions and applications across industries.

Blockchain IoT Market End Use Insights

The End Use segment of the India Blockchain IoT Market plays a significant role in shaping the overall landscape of the industry. This segment encompasses various applications across Industrial, Commercial, Residential, Government, and Transportation domains.

Industrial use cases are particularly crucial as they enhance operational efficiency and security within manufacturing processes, enabling seamless tracking of assets and real-time monitoring of equipment. In the Commercial sector, Blockchain IoT solutions facilitate secure transactions and data management, which is essential for businesses seeking to streamline operations and enhance customer experiences.

The Residential segment showcases the potential of smart homes, where Blockchain IoT technologies can provide improved safety and energy management for consumers. Government applications leverage these technologies for transparency and security in public service delivery, enhancing trust between citizens and institutions.

Meanwhile, Transportation continues to evolve with Blockchain IoT, as it enables real-time tracking and improved logistics, leading to more efficient supply chain management.

Overall, these diverse applications highlight the significant impact and growth potential of the End Use segment within the India Blockchain IoT Market, driven by increasing adoption of smart technologies and a focus on enhanced security and efficiency across various sectors.

Blockchain IoT Market Connectivity Insights

The Connectivity segment within the India Blockchain IoT Market plays a crucial role in accelerating the adoption of blockchain technologies across various industries. As the market matures, Wireless Connectivity remains a dominant force, driving innovative applications in smart cities and agriculture, allowing for real-time data exchange and improved efficiency.

Wired Connectivity facilitates stable and high-speed connections, essential for sectors requiring greater reliability and security in data transmission. Bluetooth Connectivity has gained significance in personal devices and wearable technology, enhancing user experiences via seamless connectivity.

Meanwhile, Cellular Connectivity, particularly with the advent of 5G, offers extensive coverage and lower latency, making it critical for applications such as autonomous vehicles and remote monitoring. Additionally, LPWAN Connectivity is emerging as a key enabler for IoT devices operating on minimal power requirements, making it ideal for smart metering and environmental monitoring.

Collectively, these modes of connectivity not only support the expanding ecosystem of the India Blockchain IoT Market but also enhance operational efficiencies and drive growth across various sectors. The increasing push towards digital transformation initiatives in India is expected to further bolster this segment, establishing it as a foundation for future technological advancements.

India Blockchain IoT Market Key Players and Competitive Insights

The India Blockchain IoT Market is witnessing significant growth, driven by the increasing adoption of blockchain technology and the Internet of Things across various industries. This market segment is characterized by a rapidly evolving landscape where numerous players are vying for market share through innovative solutions and strategic partnerships.

The competitive dynamics are shaped by technological advancements, regulatory frameworks, and the diverse needs of industries such as manufacturing, logistics, healthcare, and smart cities.As companies leverage blockchain's ability to offer transparency, security, and efficiency in IoT applications, understanding the competitive insights becomes vital for stakeholders to navigate this burgeoning market successfully.

DataGuise, a prominent player in the India Blockchain IoT Market, is recognized for its robust data protection solutions that complement blockchain technology. Its strengths lie in providing enterprises with enhanced visibility and control over their sensitive data, which is crucial for maintaining compliance and ensuring data integrity in decentralized environments.

DataGuise's solutions are designed to help businesses manage the challenges associated with data security and privacy, particularly in scenarios involving connected devices and IoT ecosystems. The company’s commitment to innovation enables it to adapt its offerings to meet the specific needs of Indian businesses, further solidifying its presence in the market.

By focusing on data governance and protection, DataGuise effectively positions itself as a critical partner for organizations looking to integrate blockchain in their IoT strategies.Zebra Technologies is another key player in the India Blockchain IoT Market, well-known for its advanced tracking and visibility solutions that utilize blockchain capabilities. The company offers a range of products and services focused on supply chain optimization, asset management, and real-time data tracking.

With a strong market presence in India, Zebra Technologies leverages its comprehensive portfolio, which includes RFID technology, barcode solutions, and cloud-based analytics, to enhance operational efficiencies for enterprises in various sectors.

The company’s strengths are amplified by its focus on innovation and customer-centric solutions, enabling businesses to gain valuable insights from connected assets. Zebra Technologies is also noted for its strategic collaborations and acquisitions, which strengthen its position in the Indian market, allowing it to expand its technological capabilities and service offerings.Through these efforts, the company continues to play a significant role in shaping the integration of blockchain and IoT technologies across industries in India.

Key Companies in the India Blockchain IoT Market Include:

• DataGuise
• Zebra Technologies
• Nucleus Vision
• Tata Consultancy Services
• Accenture
• Blockchain App Factory
• Raspberry Pi Foundation
• Cisco Systems
• Rudra Technologies
• Wipro
• Mahindra & Mahindra
• Infosys
• Tech Mahindra
• IBM
• Hewlett Packard Enterprise

India Blockchain IoTMarket Developments

With the goal of strengthening its position in the area, Zebra Technologies opened a new office in New Delhi in June 2025.In order to give businesses useful customer insights and improve their operational efficiency, Nucleus Vision continued to use blockchain and IoT technologies in August 2025.

In a white paper released in June 2025, Tata Consultancy Services (TCS) highlighted the potential of blockchain technology across a range of industries and discussed how it may be integrated with IoT to develop systems that are secure and accountable.

Accenture boosted its Web3 and blockchain projects in August 2025, emphasizing enterprise digital transformations and metaverse technologies.As of August 2025, Blockchain App Factory was still helping companies integrate blockchain with IoT solutions by providing blockchain IoT app development services.

The Raspberry Pi Foundation continued to operate in India in August 2025, funding educational programs that empower youth through digital and computer technologies.Rudra Technologies was still active in the Indian blockchain IoT market in August 2025, providing cutting-edge solutions to a range of industries.

With an emphasis on topics including agentic AI, embodied AI robotics, quantum computing, digital ledger technology, and quantum-safe cyber resilience, Wipro extended its blockchain IoT projects and innovation labs in August 2025.Infosys opened a development center at GIFT City in June 2025 with a focus on fintech technologies, including blockchain, and a goal of hiring at least 1,000 experts.

India Blockchain IoT Market Segmentation Insights

Blockchain IoT Market Application Outlook

• • Supply Chain Management
  • Healthcare
  • Smart Cities
  • Energy Management
  • Agriculture

Blockchain IoT Market Technology Outlook

• • Public Blockchain
  • Private Blockchain
  • Hybrid Blockchain
  • Blockchain as a Service
  • Permissioned Blockchain

Blockchain IoT Market End Use Outlook

• • Industrial
  • Commercial
  • Residential
  • Government
  • Transportation

Blockchain IoT Market Connectivity Outlook

• • Wireless Connectivity
  • Wired Connectivity
  • Bluetooth Connectivity
  • Cellular Connectivity
  • LPWAN Connectivity

 

Report Attribute/Metric Source:	Details
MARKET SIZE 2023	233.85(USD Million)
MARKET SIZE 2024	273.0(USD Million)
MARKET SIZE 2035	1925.0(USD Million)
COMPOUND ANNUAL GROWTH RATE (CAGR)	19.431% (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 Million
KEY COMPANIES PROFILED	DataGuise, Zebra Technologies, Nucleus Vision, Tata Consultancy Services, Accenture, Blockchain App Factory, Raspberry Pi Foundation, Cisco Systems, Rudra Technologies, Wipro, Mahindra & Mahindra, Infosys, Tech Mahindra, IBM, Hewlett Packard Enterprise
SEGMENTS COVERED	Application, Technology, End Use, Connectivity
KEY MARKET OPPORTUNITIES	Supply chain transparency solutions, Smart agriculture applications, Secure data sharing platforms, IoT device identity management, Decentralized energy distribution systems
KEY MARKET DYNAMICS	Increased cybersecurity concerns, Government regulatory support, Growing data integrity demand, Enhanced supply chain transparency, Rising IoT device proliferation
COUNTRIES COVERED	India