According to Goldstein Research, digital economy of India is poised to reach USD 1 trillion in the next 5-7 years and new advanced technologies like IoT, machine learning, artificial intelligence, cyber security etc will play vital role in the growth of digital economy. India Internet of Things (IoT) market outlook also includes product innovation, technological advancements, and acquisitions as the key competitive strategies adopted by the major players in the India IoT market. India has the second largest internet user base around the world with 15% internet penetration and a 3 year CAGR growth of 26%, which is going to be the major factor for the growth of IoT market in India. According to our analyst in India about 58% of the end users see IoT as a strategic to their business.
Market Segmentation
On the basis of our in-depth analysis, India Internet of Things Market can be segmented as follows:
• By Components
o Devices
 Wearable Devices
 Non-Wearable Devices
o Sensors & Actuators
o By Platforms
 By Connectivity/M2M Platforms
 By Infrastructure-as-a-Service (Iaas) Backend Platforms
 By Hardware Specific Software Platform
 By Consumer/Enterprise Software Extension Platforms
o By Software
 By Data Management Software
 By Network Management Software
 By Real Time Streaming Analysis Software
 By Security Software
 By Remote Monitoring Software
• By Verticals
o Consumer Electronics
o Construction
o Transportation & Logistics
o Manufacturing
o Retail
o Energy
o Enterprise
o Agriculture
o Healthcare
o Miscellaneous (Education, etc)
• Based on Geography
o Tier- I Cities IoT Market
o Tier- II Cities IoT Market
o Tier- III Cities IoT Market
“India Internet of Things Market Outlook 2024” contains detailed overview of the India electric vehicle market. On the basis of our in-depth analysis, market can be segmented in terms of market segmentation by components and by verticals.
Further, for the in-depth analysis, India Internet of Things Market Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such MangoMan Consumer Electronics, Sensara, Lycos Internet, Altiux, Altizon Systems, Cooey etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents the India Internet of Things market trends along with market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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