According to IMARC Group’s report titled “India Internet of Things Market Size, Share, Trends and Forecast by Component, Application, Vertical, and Region, 2025-2033”, the report presents a thorough review featuring the market share, growth, trends, and research of the industry.
How Big is the India Internet of Things Market?
The India Internet of Things market size was valued at USD 1.4 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 3.6 Billion by 2033, exhibiting a CAGR of 10.2% from 2025-2033.
Industry Insights:
- Base Year: 2024
- Historical Years: 2019-2024
- Forecast Years: 2025-2033
- Market Size in 2024: USD 1.4 Billion
- Market Size in 2033: USD 3.6 Billion
- Market Growth Rate (CAGR) 2025-2033: 10.2%
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India Internet of Things Market Trends and Drivers:
India’s Internet of Things market is witnessing remarkable momentum, powered by rapid digitalization, widespread smartphone adoption, and strong government support. The country is on track to have over 900 million internet users by 2025, driven largely by the growing availability of content in regional languages, as highlighted in a recent report by the Internet and Mobile Association of India (IAMAI) and KANTAR. This explosion in connectivity, combined with affordable data plans and the rise of a tech-savvy middle class, is creating fertile ground for IoT solutions across consumer, industrial, and public sectors.
The rollout of 5G networks is proving to be a game-changer, enabling low-latency, high-bandwidth applications that were previously impractical. Telecom operators are rapidly expanding coverage, and initiatives like BharatNet are bringing internet connectivity to rural areas, opening up new possibilities for IoT in agriculture, telemedicine, and rural supply chains. This democratization of technology means IoT is no longer limited to metros—it’s becoming a practical tool for farmers monitoring soil conditions, healthcare workers tracking patient vitals remotely, and small businesses optimizing their logistics.
Government initiatives are playing a crucial role in shaping this landscape. The Production-Linked Incentive (PLI) schemes and Design-Linked Incentive (DLI) programs are encouraging domestic semiconductor and chip manufacturing, reducing India’s dependence on imports. In 2024, Mindgrove Technologies made headlines by launching India’s first commercial high-performance IoT chip called “Secure IoT,” which is 30% cheaper than competing products. This RISC-V-based system-on-chip is designed for everything from wearables to smart city infrastructure, making IoT solutions more affordable and accessible, especially for startups and smaller enterprises.
The manufacturing and industrial sectors are embracing IoT for predictive maintenance, asset tracking, and process automation. Companies are finding that connected sensors and real-time analytics help them reduce downtime, optimize resource usage, and maintain quality control. Industries ranging from automotive to pharmaceuticals are discovering that IoT isn’t just about technology—it’s about transforming operations and gaining a competitive edge.
Healthcare is experiencing its own IoT revolution, driven by the rising prevalence of lifestyle diseases like diabetes, hypertension, and obesity. Wearable devices, smart scales, and blood pressure monitors are becoming everyday tools for preventive health management. In 2025, MediBuddy partnered with ELECOM to launch IoT-based health monitoring devices that integrate seamlessly with digital health platforms, offering personalized insights and reducing the need for frequent clinic visits. This shift toward proactive, data-driven healthcare is particularly valuable in a country where access to quality medical services remains uneven.
Smart homes are gaining traction as more Indians discover the convenience and cost savings of connected appliances, security systems, and voice-controlled assistants. What started as a premium offering is becoming mainstream as prices drop and awareness grows. Energy management, in particular, is a strong selling point—smart lighting and climate control systems help households reduce electricity bills while contributing to broader sustainability goals.
The energy sector stands out as a major adopter of IoT technology. Power companies are deploying smart meters and grid monitoring systems to track electricity distribution in real-time, identify inefficiencies, and enable predictive maintenance. These solutions help reduce transmission losses and improve billing accuracy—critical improvements in a country working to balance growing demand with infrastructure constraints. The integration of renewable energy sources like solar and wind is also benefiting from IoT, with connected systems monitoring performance and managing storage more effectively.
Smart city initiatives are another significant growth area. National programs are encouraging cities to use IoT for traffic management, waste collection, water supply monitoring, and public safety. As urban populations swell, local governments are turning to connected solutions to manage resources more efficiently and improve residents’ quality of life. The recently announced Depot Darpan platform, set to launch in May 2025, exemplifies this trend. It will use IoT and AI to digitally monitor over 2,000 food grain depots across India, tracking infrastructure, safety protocols, and operational metrics through smart sensors and real-time data.
The automotive industry is also getting connected. Vehicle telematics, infotainment systems, and real-time diagnostics are becoming standard features, driven by both manufacturer innovation and consumer demand for smarter, safer mobility solutions. Government mandates around vehicle tracking are further accelerating adoption, especially in commercial fleets.
In agriculture, IoT is helping farmers move toward precision farming with solutions for irrigation management, crop monitoring, and soil analysis. For a country where agriculture employs a massive portion of the workforce, these technologies can make a real difference in productivity and resource conservation. Similarly, retailers are using IoT for inventory management, personalized customer engagement, and smart shelf systems that optimize product placement and reduce waste.
Cloud computing and AI are the twin engines powering IoT’s analytical capabilities. Cloud platforms provide the scalable storage and processing power needed to handle massive amounts of sensor data, while AI algorithms turn that data into actionable insights through pattern recognition and predictive analytics. This combination is making IoT systems smarter and more valuable across applications.
Tech hubs in South India—particularly Bengaluru, Hyderabad, and Chennai—are at the forefront of this transformation. These cities host a vibrant ecosystem of startups, research institutions, and multinational corporations developing cutting-edge IoT solutions. In 2025, Deloitte announced a $3 billion investment in a Global AI Simulation Centre of Excellence in Bengaluru, focusing on AI-driven simulations for 5G, IoT, and robotics. State governments in Karnataka, Tamil Nadu, and Telangana are actively promoting digital infrastructure and industrial automation, creating an environment where innovation thrives.
The convergence of affordable hardware, robust connectivity, supportive policies, and growing digital literacy is creating a perfect storm for IoT adoption. Companies are finding practical applications that deliver measurable value, whether it’s reducing operational costs, improving customer experiences, or enabling entirely new business models. As edge computing advances and device interoperability improves, the barriers to entry continue to fall, making IoT accessible to organizations of all sizes across all sectors. The result is a dynamic, rapidly evolving market that’s becoming integral to India’s digital transformation story.
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India Internet of Things Market Report Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest India Internet of Things market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.
Analysis by Component:
- Hardware
- Software
- Services
- Connectivity
Analysis by Application:
- Smart Home
- Smart Wearables
- Smart Cities
- Smart Grid
- IoT Industrial Internet
- IoT Connected Cars
- IoT Connected Healthcare
- Others
Analysis by Vertical:
- Healthcare
- Energy
- Public and Services
- Transportation
- Retail
- Individuals
- Others
Regional Analysis:
- North India
- West and Central India
- South India
- East India
Top Key Players Analysis:
The report provides a detailed analysis of the competitive environment. It covers various aspects such as market structure, positioning of key players, top strategies for success, a competitive dashboard, and a company evaluation quadrant. Furthermore, the report includes comprehensive profiles of all major companies.
Other Key Points Covered in the Report:
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Market Dynamics
- Historical, Current, and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
- Top Winning Strategies
- Recent Industry News
- Key Technological Trends & Development
Research Methodology:
The report employs a comprehensive research methodology, combining primary and secondary data sources to validate findings. It includes market assessments, surveys, expert opinions, and data triangulation techniques to ensure accuracy and reliability.
Note: If you require specific details, data, or insights that are not currently included in the scope of this report, we are happy to accommodate your request. As part of our customization service, we will gather and provide the additional information you need, tailored to your specific requirements. Please let us know your exact needs, and we will ensure the report is updated accordingly to meet your expectations.
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