As per MRFR analysis, the India Internet of Everything Market Size was estimated at 29.44 (USD Billion) in 2023.The India Internet of Everything Market is expected to grow from 38.05(USD Billion) in 2024 to 2,197.52 (USD Billion) by 2035. The India Internet of Everything Market CAGR (growth rate) is expected to be around 44.593% during the forecast period (2025 - 2035).
The India Internet of Everything market is witnessing significant growth driven by several key market drivers. One of the primary factors is the increasing adoption of smart devices and connected technologies, which is facilitated by the expanding digital infrastructure in both urban and rural areas. Government initiatives like Digital India are promoting the integration of advanced technologies in various sectors such as agriculture, healthcare, and smart cities.
This creates a fertile ground for innovation and development, pushing businesses to embrace IoT solutions. Additionally, the growing need for efficient resource management and enhanced connectivity in industries is propelling the demand for IoT applications.There are a lot of chances in the India Internet of Everything market, especially in areas like manufacturing, transportation, and energy management. There is a lot of interest in using IoT-driven solutions because businesses want to automate their operations and make them more efficient.
The Indian government's efforts to promote digital manufacturing through programs like Make in India make it even easier for IoT technologies to be used together. Also, new businesses are starting up quickly, creating an environment of creativity and new ideas that can help solve local problems and meet specific needs. In India's IoT landscape, trends like the move toward edge computing and the rollout of 5G networks are becoming more and more important.
These advancements are expected to enhance data processing capabilities and device connectivity, resulting in faster and more reliable IoT applications. The rise of smart cities initiatives also indicates a trend towards consolidating data from various sources to create intelligent urban environments, leading to improved public services and overall quality of life. As more sectors start adopting IoT solutions, the potential for a transformative impact on India’s economy becomes increasingly clear.
Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review
The ongoing digital transformation across various sectors in India significantly contributes to the growth of the India Internet of Everything Market. Industries such as manufacturing, healthcare, and agriculture are increasingly adopting Internet of Things (IoT) technologies to enhance efficiency and productivity. For instance, the Ministry of Electronics and Information Technology (MeitY) in India has reported that the use of IoT solutions can potentially boost India's economy by USD 15 billion by 2025.
This growth is driven by initiatives like 'Digital India,' which aims to modernize infrastructure and improve connectivity across rural and urban areas. Major organizations such as Tata Consultancy Services (TCS) and Infosys are actively involved in Research and Development of IoT solutions, showcasing how large corporations can impact the landscape. Enhanced connectivity, smart cities projects, and government support are all fostering a conducive environment for the rapid advancement of the India Internet of Everything Market, further propelling its growth trajectory.
The Indian government has embarked on several initiatives to enhance urban infrastructure and promote the adoption of smart technologies. Programs such as the Smart Cities Mission aim to create integrated and sustainable cities through the implementation of IoT and other digital technologies.
As of now, the government has selected 100 cities for this initiative, which is projected to attract significant investments for smart solutions. According to the Ministry of Urban Development, about INR 48,000 crores has been allocated for smart city projects.Organizations like Larsen & Toubro and Mahindra Urban Developers are crucial players in realizing these transformations. The boost in urbanization and the need for efficient services directly contribute to the growth of the India Internet of Everything Market.
The widespread adoption of connected devices is a critical driver for the India Internet of Everything Market. Reports indicate that the number of internet-connected devices in India is expected to reach over 1.1 billion by 2025. This trend is driven by the growing penetration of smartphones and affordable internet access across the country.
The Telecom Regulatory Authority of India (TRAI) highlights that mobile subscribers in India crossed 1.2 billion, showcasing the potential for connected devices.Companies like Reliance Jio and Airtel are not only enhancing mobile connectivity but also rolling out 5G technology, further facilitating the growth of connected device ecosystems. The increasing reliance on smart devices for day-to-day tasks underpins the demand for IoT solutions in various sectors, thus significantly boosting the market.
India is witnessing a shift towards Industry 4.0, which encompasses automation, data exchange, and the use of IoT technologies across manufacturing processes. The government supports this transition through initiatives such as 'Make in India,' which encourages domestic manufacturing with the help of smart technologies.
The Ministry of Heavy Industries and Public Enterprises estimates that Industry 4.0 can enhance productivity by 30% and reduce operational costs by 25% in manufacturing sectors within the next decade.Major industry players like Siemens and General Electric are investing substantially in smart manufacturing technologies in India, indicating the potential market growth. This emphasis on technological upgrades is pivotal for the sustained expansion of the India Internet of Everything Market.
The India Internet of Everything Market, particularly within the Component segment, plays a pivotal role in shaping the digital landscape of the country. As the adoption of smart technologies continues to expand, the demand for various components is witnessing a significant rise. This segment encompasses crucial areas such as Hardware, Software/Platform, Connectivity, and Services, which collectively drive innovation across multiple industries. Hardware serves as the backbone of IoT solutions, comprising sensors, devices, and actuators that facilitate data collection and actuation in real-time.
The need for robust and efficient hardware is underscored by the growing number of connected devices being deployed in sectors like agriculture, health care, and smart cities, enhancing operational efficiency and resource management.In parallel, Software and Platform are equally significant, providing the necessary tools for developers to build applications that harness the capabilities of hardware.
These platforms enable data analytics and user interface designs that are essential for effective management and utilization of IoT devices. The rise of cloud computing and edge computing solutions has further amplified the importance of software platforms, offering scalability and real-time data processing capabilities that allow businesses to respond swiftly to market changes.
Connectivity forms the bedrock of IoT environments, with technologies such as 5G and LPWAN being increasingly adopted to ensure seamless data transfer across devices. This connectivity layer is foundational, allowing massive volumes of data to be transmitted quickly and reliably, making it indispensable for mission-critical applications.Services in this segment also encompass a wide array of offerings, from installation and maintenance to consultancy services that assist organizations in optimizing their IoT strategies.
Given India's entrepreneurial spirit, there is an accelerating demand for specialized services aimed at enhancing an organization's capability to leverage IoT technologies effectively. Trends such as increasing government support for digital initiatives and the push for smart infrastructure development serve as catalysts, enhancing the overall landscape of the India Internet of Everything Market. These elements interact synergistically to create a flourishing ecosystem that continues to evolve, supported by advancements in technology and increasing investment in digital infrastructure across the nation.
Moreover, with the rise of Industry 4.0 concepts, traditional sectors, and new-age industries are exploring embedded IoT solutions, fostering a culture of innovation. This transformative wave signifies immense potential for growth, suggesting that the Component segment will be critical in facilitating the digital transformation journey for many organizations in India.
Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review
The End User Industry segment of the India Internet of Everything Market is witnessing dynamic growth, driven by the increasing adoption of smart technologies across various sectors. Manufacturing is poised as a critical area where IoT applications enhance operational efficiency and predictive maintenance. Transportation benefits from IoT through fleet management, real-time tracking, and improved public transport systems, catering to urban mobility demands.
The Healthcare sector leverages IoT for remote patient monitoring and smart medical devices, reflecting the surge in demand for telehealth services.Retail is experiencing a transformation with IoT-enabled customer experiences and inventory management solutions that personalize shopping journeys. Energy and Utilities focus on smart grids and energy management systems that optimize resource distribution.
The Residential sector is embracing smart home technologies, contributing to energy efficiency and convenience for homeowners. Government initiatives aim to modernize infrastructure through IoT solutions, improving public services and ensuring transparency. The BFSI sector is leveraging IoT for enhanced security and personalized financial services, while other industries are also exploring myriad applications as the Internet of Everything reshapes the economic landscape in India.The overall momentum observed across these sectors is indicative of significant market growth and numerous opportunities arising from the integration of connected technologies.
The India Internet of Everything Market is experiencing significant growth driven by advancements in technology, increasing data connectivity, and a booming digital economy. This competitive landscape consists of numerous players vying for market share, presenting both challenges and opportunities.
Companies in this sector are focusing on leveraging artificial intelligence, machine learning, and big data analytics to provide innovative solutions that enhance operational efficiency and customer experiences across various industries. The market is characterized by the rapid adoption of IoT technologies, which facilitate enhanced connectivity among devices and systems, leading to smarter, more efficient operations in sectors ranging from manufacturing to healthcare.
As organizations increasingly recognize the value of IoT and connected devices, the competition is becoming more intense, requiring companies to invest strategically in research and development, product innovation, and customer engagement strategies.Tech Mahindra has carved out a significant presence in the India Internet of Everything Market through its comprehensive range of solutions that address various sectors, including manufacturing, automotive, and healthcare.
The company boasts strong capabilities in offering integrated solutions that combine IoT, artificial intelligence, and analytics to empower businesses with real-time insights and control over their operations. Among its strengths, Tech Mahindra is recognized for its deep industry knowledge and expertise, allowing it to deliver targeted solutions that meet the unique needs of different sectors.
The company's commitment to innovation and customer-centric approaches has established it as a trusted partner in digital transformation initiatives, enhancing its competitive position in the market. Tech Mahindra continues to focus on expanding its service portfolio, fostering partnerships with technology providers, and pursuing strategic investments that bolster its capabilities in the Internet of Everything ecosystem.Cognizant plays a pivotal role in the India Internet of Everything Market, offering a variety of services that encompass IoT strategy, implementation, and ongoing support.
The company excels in providing end-to-end solutions that leverage its expertise in cloud computing, big data, and automation, enabling businesses to capitalize on the interconnected nature of IoT devices.
Cognizant's strengths lie in its extensive portfolio of services, including real-time analytics, smart device management, and IoT-enabled business process optimization. The company has engaged in several strategic mergers and acquisitions that have expanded its capabilities and market reach in India, positioning itself as a leader in IoT solutions.
Cognizant's emphasis on research and development allows it to stay at the forefront of technology trends, making it an ideal partner for companies looking to embrace the digital transformation offered by the Internet of Everything. Through innovative products and customized solutions tailored to the Indian market, Cognizant continues to drive significant advancements in IoT applications across various industries.
In recent months, the India Internet of Everything Market has witnessed significant developments. In August 2023, Tech Mahindra announced a strategic partnership with Cisco Systems to enhance their IoT solutions, aiming to leverage edge technologies for optimizing business operations in various sectors. Additionally, in July 2023, Wipro unveiled its new IoT platform to facilitate automation and data insights for enterprises.
The market's growth is reflected in the increasing market valuation of companies. According to industry estimates, the IoT sector in India is anticipated to reach USD 15 billion by 2025, driven by investments from major players such as Reliance Industries and Infosys. In the realm of mergers and acquisitions, Cognizant completed its acquisition of a data analytics firm in June 2023, expanding its capabilities in smart solutions.
Furthermore, in March 2022, Tata Consultancy Services announced a collaboration with Bharti Airtel to co-create innovative IoT solutions, showcasing the strengthening partnerships aimed at advancing IoT technology in India. Recent government initiatives aimed at fostering a digital infrastructure are also contributing to the burgeoning IoT landscape, making it a focal point for investments in technology and innovation in the country.
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2023 | 29.44(USD Billion) |
| MARKET SIZE 2024 | 38.05(USD Billion) |
| MARKET SIZE 2035 | 2197.52(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 44.593% (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, Reliance Industries, Wipro, Infosys, HCL Technologies, Cisco Systems, Tata Consultancy Services, Bharti Airtel, Microsoft, Amazon, Google, Larsen & Toubro, IBM, Vodafone Idea |
| SEGMENTS COVERED | Component, End User Industry |
| KEY MARKET OPPORTUNITIES | Smart city infrastructure development, Healthcare IoT solutions, Industrial automation advancements, Agriculture technology integration, Connected consumer electronics growth |
| KEY MARKET DYNAMICS | growing smartphone penetration, increased investment in IoT, evolving regulatory framework, rising consumer demand, expanding cloud infrastructure |
| COUNTRIES COVERED | India |
Frequently Asked Questions (FAQ):
The India Internet of Everything Market is projected to be valued at 38.05 USD Billion in 2024.
By 2035, the India Internet of Everything Market is expected to reach a valuation of 2197.52 USD Billion.
The expected CAGR for the India Internet of Everything Market from 2025 to 2035 is 44.593%.
In 2035, the Software/Platform component is projected to have the highest market value of 580.25 USD Billion.
The Hardware component of the India Internet of Everything Market is expected to be valued at 8.0 USD Billion in 2024.
Major players in the India Internet of Everything Market include Tech Mahindra, Cognizant, Reliance Industries, Wipro, Infosys, HCL Technologies, Cisco Systems, Tata Consultancy Services, Bharti Airtel, Microsoft, Amazon, Google, Larsen & Toubro, IBM, and Vodafone Idea.
By 2035, the Services component of the India Internet of Everything Market is projected to be valued at 904.4 USD Billion.
The Connectivity segment of the India Internet of Everything Market is expected to reach a valuation of 290.0 USD Billion by 2035.
Drivers contributing to the growth of the India Internet of Everything Market include increasing connectivity, advancements in data analytics, and rising demand for smart technologies.
Challenges faced by the India Internet of Everything Market include cybersecurity threats and the need for regulatory compliance in the rapidly evolving tech landscape.
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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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