Indian IoT Market Expected to Grow By 28.2 Percent from 2016 to 2022

Although the market is at its nascent stage, it has registered key growth backed by an increase in the number of connected devices, coupled with increasing internet penetration. Exponential growth is anticipated during the coming years.
By IOT Journal
Nov 29, 2016

PRESS RELEASE:

According to 6Wresearch, the Indian Internet of Things market is projected to grow at a CAGR of 28.2 percent during the period of 2016 to 2022. In India's IoT market, the Industrial Internet of Things (IIoT) accounted for the majority of market share, followed by consumer IoT. The IIoT segment market is registering growth on account of a rise in industrial applications for an increase in production. Government efforts to increase internet penetration through the Digital India Campaign are resulting in spreading awareness and the adoption of the IoT among end users.

According to Shefali Goel, a research analyst for research and consulting at 6Wresearch, "Smart wearables are gaining popularity in our country, owing to the growing awareness and increasing acceptance of smart watches in the country. Further, home automation application in the consumer IoT segment is set for a major boost due to declining prices and emergence of the smart-home concept."

According to Aditi Sharma, a fellow research associate for research and consulting at 6Wresearch, "India is under a digital revolution of doing things which were not possible before. The IoT is a main part of it, and is creating practical improvements for this transformation. With the incorporation of the IoT in both the consumer and industrial sectors, there is a rapid expansion of the ecosystem. Major companies are turning to adopt the IoT to increase their efficiency and customer experience."

The "India Internet of Things Market (2016-2022)" report provides in-depth analysis with 18 figures and two tables, covered in more than 80 pages. The report estimates and forecasts the overall India Internet of Things market by revenue, by opportunity, by verticals and by applications, such as connected vehicles, health care, industrial automation, smart wearables, home automation and smart metering. The report also offers insights on market share by companies, benchmarking, profiles, market drivers and restraints.

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