India Internet of Things Market Overview 2022-2027:
The latest report published by IMARC Group, titled “India Internet of Things Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on Internet of Things (IOT) market in India. The report also includes competitor and regional analysis, and contemporary advancements in the market. The India internet of things market is expected to exhibit a CAGR of 13.87% during 2022-2027.
The Internet of Things (IoT) refers to the giant collective network of connected devices embedded with processors, sensors, and communication hardware to gather and share data over the internet wirelessly.
It collects and integrates real-time data on customer behavior to provide organizations with advanced analytics, assisting in informed business decision-making. It also aids in improving security by monitoring digital and physical infrastructure, mitigating safety risks, enhancing efficiency, and optimizing performance. As a result, IoT is rapidly gaining traction across various industries in India, including retail, manufacturing, healthcare, government, agriculture, and transportation.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Trends:
The market is majorly driven by the rising penetration of high-speed internet in India. In line with this, rapid advancements in technology, such as big data analytics, artificial intelligence, machine learning, new connectivity protocols, and blockchain, are catalyzing the demand for IoT solutions.
Besides this, the growing employment of IoT in smart homes, connected vehicles, traffic management systems, smart wearables, and healthcare solutions is positively influencing the market across the country. Additionally, rapid digitization across the agriculture, education, financial services, and logistics industries is providing a boost to the demand for IoT in the country.
Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
India Internet of Things Market Segmentation:
Our report has categorized the market based on region, component, application and vertical.
Breakup by Component:
- Hardware
- Software
- Services
- Connectivity
Breakup by Vertical:
- Healthcare
- Energy
- Public and Services
- Transportation
- Retail
- Individuals
- Others
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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