India IoT in Manufacturing Market is expected to grow at a CAGR of 11.25% Through 2030
Government initiatives related to the industry 4.0 are
expected to increase the adoption rate of IoT devices, during the forecast
period of 2026-2030.
According to TechSci Research
report, India IoT in Manufacturing Market - By Region, Competition,
Forecast and Opportunities, 2030, the India IoT in Manufacturing market is expected
to register a robust growth during the forecast period, 2026-2030. India has
been making significant strides in the field of smart manufacturing in recent
years. The government has been actively promoting the development of smart
manufacturing by creating favorable policies, investing in infrastructure, and
providing support for research and development.
The India IoT in
manufacturing market is growing rapidly on account of increasing demand for
connected devices and analytics and rising adoption of cloud computing
services. Moreover, other factors such as increasing use of business automation
in manufacturing and other industrial processes and rising focus towards 5G are
further driving the growth in the market. The growth of the IT sector coupled
with increasing investment by the government in IT sector is expected to further
boost the India IoT in Manufacturing Market. The IT industry accounted for 8%
of India’s GDP in 2020. Additionally, in the Union Budget 2021, USD 7.31
billion was allocated to the IT sector which will further indirectly catalyze
IoT in the manufacturing market in the forecast period. However, rising concern
over data privacy & security and lack of data interoperability is causing a
hindrance for IoT in the manufacturing market in the country.
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Based on Component, Service Segment dominate the market in the forecast period, In the India IoT in Manufacturing market, the Service segment emerges as a dominant force shaping the adoption and evolution of IoT technologies across various manufacturing sectors. Services related to IoT play a crucial role in supporting manufacturers in the deployment, management, and optimization of IoT solutions tailored to their specific operational needs.
One of the primary drivers behind the dominance of the Service segment is the comprehensive support it offers throughout the IoT implementation lifecycle. Service providers offer consultancy services to assess manufacturing processes, identify IoT integration opportunities, and develop customized IoT strategies aligned with business objectives. This strategic guidance helps manufacturers navigate complexities, prioritize investments, and maximize the value derived from IoT deployments.
Moreover, implementation services are critical in facilitating seamless integration of IoT hardware, software, and networks within manufacturing environments. Service providers collaborate with manufacturers to deploy IoT sensors, devices, and connectivity solutions across production lines, enabling real-time data collection, analysis, and visualization. This deployment expertise ensures minimal disruption to ongoing operations while optimizing resource utilization and enhancing operational efficiency.
Managed services play a pivotal role in maintaining and optimizing IoT infrastructure post-deployment. Service providers offer remote monitoring, maintenance, and support services to ensure the continuous operation and performance of IoT systems. Proactive monitoring detects potential issues, predicts equipment failures, and facilitates timely maintenance interventions, thereby minimizing downtime and improving overall equipment effectiveness (OEE).
The Service segment encompasses IoT platform services that enable manufacturers to leverage advanced analytics, AI, and machine learning capabilities for data-driven decision-making. These platforms aggregate, analyze, and interpret IoT-generated data to derive actionable insights, optimize production processes, and drive continuous improvement initiatives. Manufacturers benefit from predictive analytics models that forecast demand, optimize inventory levels, and enhance supply chain efficiency based on real-time IoT data.
Professional services such as training and skill development are essential components of the Service segment. Service providers offer educational programs, workshops, and certifications to upskill manufacturing personnel in IoT technologies, data analytics, and cybersecurity best practices. This knowledge transfer empowers workforce readiness, fosters a culture of innovation, and enhances organizational capabilities to effectively harness the full potential of IoT in manufacturing operations.
The dominance of the Service segment in the India IoT in Manufacturing market underscores its critical role in facilitating IoT adoption, integration, and optimization across diverse manufacturing sectors. By offering comprehensive consultancy, implementation, managed services, IoT platforms, and workforce development initiatives, service providers empower manufacturers to achieve operational excellence, drive innovation, and maintain competitive advantage in an increasingly digital and interconnected manufacturing landscape.
Key market players in the India IoT in Manufacturing market:
- IBM Corporation
- Cisco Systems, Inc.
- Huawei Technologies Co., Ltd.
- Microsoft Corporation
- Schneider Electric SE
- Siemens Aktiengesellschaft
- Bosch Limited
- SAP SE
- General Electric Company
- Zebra Technologies Corporation
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“The demand for IoT in Manufacturing is anticipated to grow during the forecast period owing to rising investments in industry 4.0. Among verticals, electronics and electrical segment is projected to grow at an impressive rate at the back of increasing adoption of smart sensors and beacons. Moreover, increasing demand for handling challenges such as data privacy & security issue, inconsistent network availability, etc., along with increasing investment by the Indian government on industry 4.0 and Adoption of 5G is further promoting the growth of IoT in manufacturing in India” said, Mr. Karan Chechi, Research Director with TechSci Research, a research-based India management consulting firm.
“India IoT in
Manufacturing Market Segmented by Component (Solutions, Services &
Platforms), By Application Area (Predictive Maintenance, Business Process
Optimization, Asset Tracking & Management, Logistics & Supply Chain
Management, Real-Time Workforce Tracking & Management, Automation Control
& Management, Emergency & Incident Management, and Business
Communication), By End Use Industry (Energy & Utilities, Automotive, Food
& Beverages, Aerospace & Defense, Chemicals & Materials, High-Tech
Products, Healthcare, Others), By Region, Competition, Forecast and
Opportunities, 2030 has evaluated the future growth potential
of India IoT in Manufacturing market and provides statistics & information
on market size, structure, and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in IoT
in Manufacturing market.
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