Smart Homes & Buildings to Witness Maximum IoT Adoption During Next 5 Years in India

Rising sales of smart devices, increasing internet penetration and growing adoption of IoT across various end use industries to propel India IoT market through 2022

According to a recently released TechSci Research report, “India Internet of Things Market By Component, By Communication Technology, Competition Forecast and Opportunities, 2012-2022”, the IoT market in India is projected to exhibit a CAGR of over 22% during 2017 - 2022. The country’s IoT market grew at a significant pace over the last few years, owing to ongoing technological developments in IoT technology landscape for providing better connectivity and coverage, coupled with rising need for real-time monitoring & tracking of services and systems across various industries. IoT adoption is growing on account of IoT technology enabling industries to reduce operational and manpower cost. Moreover, announcement of various government initiatives projects such as smart cities, smart transportation and smart grids is expected to further propel adoption of IoT technology in India during the forecast period.

Figure 1: India Smart Grid Project, As on January 2017

Browse 23 market data Tables and 19 Figures spread through 120 Pages and an in-depth TOC on "India Internet of Things Market"

https://www.techsciresearch.com/report/india-internet-of-things-market-by-component-hardware-software-platform-and-services-by-communication-technology-short-range-cellular-satellite-and-others-competition-forecast-and-opportunities/937.html

Internet user base in India is forecast to grow from about 404.8 million in 2015 to 635.8 million by 2021. Moreover, smartphone user base is also expanding in the country, as it grew from about 123.2 million in 2014 to 204.1 million in 2016. Increasing internet penetration, rising sales of smart devices, growing deployment of low-cost wireless sensors and increasing adoption of cloud infrastructure are leading to generation of large volumes of data. Consequently, a number of companies across India are inclining towards utilizing these large data sets to reduce their operational costs and to deliver better services, thereby, boosting IoT market in the country.

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“Launch of various government projects such as smart cities, smart transportation and smart grids is driving IoT adoption in India. Moreover, government of India has launched International IoT Research Collaboration Scheme (IIRC), which aims to attract private investments in IoT landscape. An emerging trend that is being witnessed is an increasing number of companies operating in various industrial sectors are adopting latest technologies, such as industrial internet of things (IIoT) and machine to machine communication (M2M), which is expected to positively influence the country’s IoT market through 2022.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Internet of Things Market By Component, By Communication Technology, Competition Forecast and Opportunities, 2012-2022” has evaluated the future growth potential of India internet of things market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in India internet of things market.

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