India Internet of Things market in India is in the initial phase which is expected to grow exponentially over the next six years. The major drivers of this market in India are initiatives taken by the government, growing acceptance of smart applications, and increasing internet penetration across the country. The government of India launched various projects such as 100 smart cities projects and organizations for the adoption and implementation of IoT.
According to 6Wresearch, the Internet of Things market in India is projected to grow at a CAGR of 28.2% during 2016-22. For the growth of the overall market, smart cities project is expected to play a vital role. World Bank and Asian Development Bank (ADB) are anticipated to provide loans of $500 million and $1 billion respectively to India for the development of the Smart City Project. Amongst all the applications, industrial application contributes maximum revenue share in the Indian IoT market owing to its growing usage in energy management, smart building, manufacturing, conserving energy, and environment.
Key Highlights of the India IoT Market Research Report
- Historical data of India IoT Market Revenue for the Period 2014-2015
- Market Size & Forecast India IoT Market Revenue until 2022
- Market Size & Forecast India IoT Market Revenue for Consumer IoT until 2022
- Historical data of India IoT Market Revenue for Industrial IoT for the Period 2014-2015
- Market Size & Forecast India IoT Market Revenue for Industrial IoT until 2022
- Market Drivers and Restraints
- Internet of Things Market Analysis and Market Trends
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