India Industrial IOT Market is predicted to grow at faster CAGR during the forecast period due to rising cloud computing platforms and increasing in the adoption of smart devices.

Introduction of the India Industrial IOT Market Report

Industrial IoT can be defined as an application of IoT technology in industrial settings, mainly with respect to instrumentation and control of sensors and devices that are connected through cloud. It is also called the fourth wave of the industrial revolution.

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Market Dynamic

Key Drivers and Emerging Trends

The factors driving the India Industrial IOT Market include the rising government support in digitalization for the industrial sector. Indian Government is developing 100 smart city project with automating several industries such as health, disaster, energy vie remotely connected devices.  Additionally, rising cloud computing platforms and increasing in the adoption of smart devices are some of the major factors driving the growth of the industrial IoT market.

For instance, according to IBEF in 2020, the expansion of smartphone had recorded 10 times expansion from 14.5 million shipments in 2011 to 150 million in 2020. Moreover, the use of IoT technology for predictive maintenance of industrial equipment and rising in industrial construction projects lead to setting up of large scale industrial and commercial development such as smart city projects, healthcare, transport & logistics, retail has further boosted the growth of this market.

Restraint in the India Industrial IOT Market

However, lack of skilled worker has hampered the growth of India Industrial IOT Market. Moreover, security challenges for Industrial IOT and lack internet connectivity has also restrain the growth of this market.

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Vertical – Segment Analysis

Based on the Vertical, manufacturing is expected to grow at a higher CAGR rate in the India Industrial IOT Market during the forecast period as manufacturers are penetrating toward the wireless connectivity among agro-feed, logistics, building management etc. This is attributed to have a seamless data transfer over multiple verticals. These are mainly focusing on solution which will support production asset and manufacturing operations management. Thus, this factor has boosted the growth of this market.

Component – Segment Analysis

Based on the Component, the solutions segment is expected to grow at a higher CAGR rate in the India Industrial IOT Market during the forecast period. The solution segment includes remote monitoring, analytics, data management and security solution. Thus, increasing investment in the industrial IoT and advanced technological information system lead to better operational efficiency. Thus, this factor has boosted the growth of this market.

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Key Developments:

• • In April 2021 Intel entered into partnership with John Deere, which provided its AI technology to help in solving costly, age-old problem in the manufacturing welding process. Deere is providing a solution that will uses computer vision to automatically spot the common defects in the automated welding process in its manufacturing facilities.
  • In Jan 2021, Reliance Jio announced to introduce its IoT services in India. This network is already launched in collaboration with Samsung in India.

Segments covered in the Report:

The India Industrial IOT Market has been segmented on the basis of Vertical, Component, Software.  Based on Vertical, the market is segmented into Healthcare, Transportation, Manufacturing, Automotive and Others. Based on Component, the market is segmented into Services and Solution. Based on Software, the market is segmented into Product Lifecycle Management, Manufacturing Execution Systems, SCADA, Outage Management Systems, Distribution Management Systems and Others.

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Key questions answered in this research report:

• • At what pace is India Industrial IOT Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in India Industrial IOT Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the India Industrial IOT Market?
  • Which Vertical generated maximum revenues in 2020 and identify the most promising Vertical during the forecast period?
  • What are the various Component areas of India Industrial IOT Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

 

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues (2020)	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Vertical, By Component, By Software, By Region
Regional Coverage	India
Companies Profiled	Profiles of Top 10 Major Companies Operating in “India Industrial IOT Market”
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

India Industrial IOT Market by Vertical

• • Healthcare
  • Transportation
  • Manufacturing
  • Automotive
  • Others

India Industrial IOT Market by Component

• • Services
  • Solution

India Industrial IOT Market by Software

• • Product Lifecycle Management
  • Manufacturing Execution Systems
  • SCADA
  • Outage Management Systems
  • Distribution Management Systems
  • Others