IoT market in India expected to reach $9.28 billion by 2025, Frost & Sullivan

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IoT market in India expected to reach $9.28 billion by 2025, Frost & Sullivan
IoT market in India expected to reach $9.28 billion by 2025, Frost & Sullivan

Use cases such as industrial automation, building automation, security, and surveillance account for the majority of the market revenue. Telcos may benefit from a share of this revenue, depending on their strategic partnerships with hardware providers and their roles in the IoT value chain

Driven by increasing internet penetration, surge in smart application adoptions, and initiatives such as smart city, the IoT (Indian Internet of Things) market, from $4.98 billion in 2020 is projected to reach $9.28 billion by 2025, according to Frost & Sullivan.

Other factors driving the market are adoption of IoT by enterprises as well as verticals’ focus on automation, it said.

“IoT solution deployment for manufacturing industries, including automotive, energy and utilities, smart cities (government), retail, and other industries such as logistics, will drive investments for enterprise IoT products and services”, said Apalak Ghosh, Associate Director – Information & Communications Technologies at Frost & Sullivan.

“Use cases such as industrial automation, building automation, security, and surveillance account for the majority of the market revenue. Telcos may benefit from a share of this revenue, depending on their strategic partnerships with hardware providers and their roles in the IoT value chain”, Ghosh added.

As per the Texas, United States-based firm, to create awareness and approach enterprises with vertical-specific P-LTE solutions, Indian telcos should focus on marketing the benefits of Private LTE or P-LTE.

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