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 market in India. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The internet of things (IoT) represents a network of interrelated and internet-connected objects that collect and transmit data over the wireless networks without human intervention. It works with machine learning (ML) and artificial intelligence (AI) technologies to analyze data, offer businesses access to advanced analytics, make informed decisions, enhance security, monitor digital and physical infrastructure for optimizing performance, improve efficiency, reduce safety risks, etc. As a result, IoT finds widespread applications across the retail, healthcare, manufacturing, transportation, and agriculture sectors across India.
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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.
The rising consumer inclination towards luxurious driving experiences, on account of the growing sales of connected cars, is primarily bolstering the India internet of things market. Additionally, the inflating investments by government bodies across India in developing smart cities are further stimulating the market growth. Besides this, the increasing utilization of this technology in the commercial sector to derive data-driven insights, boost productivity and efficiency, create new business models and revenue streams, etc., is acting as another significant growth-inducing factor. Moreover, the emerging trend of automation in industrial processes is augmenting the demand for IoT solutions to monitor products and address quality defects in real-time, which is also positively influencing the market growth. Apart from this, numerous medium and large-scale organizations are adopting long-term evolution for machines (LTE-M) solutions to provide enhanced end-to-end security, device-level access, encrypted data transfer, etc., which is anticipated to fuel the India internet of things market over the forecasted period.
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India Internet of Things Market Segmentation:
Our report has categorized the market based on region, component, application and vertical.
Breakup by Component:
Breakup by Application:
Breakup by Vertical:
Breakup by Region:
Key highlights of the report:
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