Evaluating the Expanding Size of the IoT Industry in India

The IoT industry in India is expanding at an extraordinary pace, becoming one of the most important technology sectors in the country. As more devices become connected and data-driven innovation gains momentum, the overall size of the IoT market continues to scale rapidly. The IoT Industry IoT Industry size reflects the increasing deployment and integration of smart technologies across multiple domains.

According to MRFR analysis, the India Internet of Things Market Size reached USD 49.04 billion in 2024 and is projected to increase to USD 351.27 billion by 2035, growing at a 19.6% CAGR. This rapid expansion reflects widespread IoT adoption across manufacturing, healthcare, transportation, smart homes, utilities, agriculture, and retail.

The size of the IoT industry is being driven by the massive growth in connected devices. Sensors, smart appliances, automation systems, wearables, and industrial machinery are becoming increasingly integrated into daily operations across both consumer and enterprise environments. As organizations seek real-time insights and automation, IoT becomes a critical enabler of efficiency and innovation.

One of the major drivers expanding the size of the IoT industry is India’s accelerating digital transformation. Businesses across sectors are transitioning toward smart technologies that utilize interconnected devices, cloud infrastructure, and advanced analytics. This adoption is significantly increasing IoT investment and deployment.

Government-backed initiatives also play a crucial role. India’s Smart Cities Mission has created a large ecosystem for IoT implementation in urban infrastructure. Applications such as smart lighting, waste management, traffic systems, public safety, and water distribution networks contribute greatly to industry expansion.

The strength of India’s telecommunications infrastructure is another factor contributing to market size. With high-speed internet, 4G, and the rollout of 5G networks, IoT applications are becoming more reliable and scalable. Low-latency 5G is particularly crucial for applications requiring real-time communication, such as autonomous vehicles, industrial robots, and remote healthcare.

Enterprise adoption of IoT is expanding the industry’s size significantly. Manufacturing companies use IoT to monitor equipment, automate processes, and improve product quality. The agriculture industry integrates IoT for smart irrigation, soil monitoring, and crop analytics. Healthcare providers are increasingly adopting remote monitoring systems, connected devices, and telemedicine platforms.

The retail sector is another high-growth segment, using IoT for inventory management, automated checkout systems, personalized marketing, and store analytics. Similarly, logistics companies are using IoT for asset tracking, supply chain visibility, and fleet management.

Consumer IoT also contributes significantly to market size. The rising popularity of smart home technologies, wearables, connected vehicles, and lifestyle-enhancing devices is boosting demand.

The expanding size of the IoT industry in India reflects its long-term sustainability and the growing reliance on connected technologies across all sectors. As more industries adopt IoT for automation, analytics, and optimization, the market size will continue to grow steadily.

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