India IoT Security Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

The India IoT security market size reached around USD 733.50 Million in 2024. The market is projected to grow at a CAGR of 24.00% between 2025 and 2034 to reach nearly USD 6304.01 Million by 2034.

India IoT Security Market Growth

In 2015, the Indian government introduced the Smart City Mission to promote economic growth and improve the quality of life for people. Nearly 25 cities have completed over 50% of the projects planned under the mission, with Kakinada (720%), Devanagere (433.30%), Belagavi (414.90%), New Town (410%), and Lucknow (366.70%) leading the performance estimates. A key component of this plan is establishing Integrated Command and Control Centres for managing and monitoring various services, systems, and public infrastructure facilities in a single platform. This is expected to increase the India IoT security market value over the forecast period.

The Indian agricultural sector accounts for over 20% of its GDP growth. A fully developed ecosystem of agtech solutions can increase the incomes of Indian farmers by nearly 25%-35% and contribute a value of USD 95 billion to the domestic economy. Agtech can substantially boost crop productivity while reducing input costs. It can also enhance price realisation for crops. During 2013-2020, the number of agtech startups surged from 50 to 1,000, driven by rising internet penetration and increasing farmer awareness regarding agtech solutions. The increasing adoption of agtech in India’s farming sector is expected to accelerate the demand for IoT security services in the country, thereby driving the India IoT security market development.

Key Trends and Developments

Increasing adoption of IoT devices; rising threat of cyberattacks; growth of telemedicine; and rapid economic digitalisation are factors favouring the India IoT security market growth.

May 9, 2024

Mindgrove, a start-up incubated by IIT-Madras developed India’s first RISC-V-based SoC called “Secure IoT”, which can enable IoT device manufacturers to reduce production costs and use local raw materials.

May 7, 2024

Tata Communications launched CloudLyte, an automated platform for edge computing that provides cloud, multi-access, and infrastructure-agnostic architectures.

April 9, 2024

The Ministry of Electronic and Information Technology established five new working groups to devise new rules for mobile device security, digital education, zero-trust architecture, and IoT devices. This is expected to positively impact the India IoT security market outlook.

April 4, 2024

In collaboration with Microsoft, IBM Consulting launched an Experience Zone in the city of Bengaluru, that enables clients to understand how their solutions can transform their business outcomes.

Increasing adoption of IoT devices

Rising internet accessibility and smartphone penetration rates have accelerated the adoption of IoT devices. This is expected to increase the demand for reliable IoT security solutions over the forecast period.

Rising threat of cyberattacks

India has witnessed a surge in state-sponsored cyberattacks in recent years, with nearly 80% of them coming from China. This is expected to heavily impact the India IoT security market dynamics.

Growth of telemedicine

The growth of the healthcare sector has led to an expansion of the demand for telemedicine, especially in remote areas. With the introduction of new government initiatives aimed at boosting healthcare accessibility in rural areas, the demand for robust security solutions are expected to become crucial, thereby facilitating India IoT security market development.

Rapid economic digitalisation

The digitalisation of various public services provided by the government is expected to increase the demand for secure IoT solutions, resulting in a growth of market value.

India IoT Security Market Trends

In 2023, nearly 83% of all Indian organisations experienced a cyberattack while only 24% of all Indian organisations have the necessary capabilities and resources for tackling cyberattacks. As per the India IoT security market analysis, over 30% of all companies are still in their first stage of planning and implanting cybersecurity measures. This is expected to increase the demand for IoT security solutions over the forecast period.

India IoT Security Industry Segmentation

The EMR’s report titled “India IoT Security Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Component:

  • Solutions
  
  • Identity and Access Management

  •   
  • Device Management

  •   
  • Data Encryption and Tokenization

  •   
  • Unified Threat Management (UTM)

  •   
  • Security analytics

  •   
  • Others
    • Services
    Market Breakup by Deployment Mode:
    • On-Premises
    • Cloud
    Market Breakup by Organization Size:
    • Large Enterprises
    • Small and Medium Enterprise (SMEs)
    Market Breakup by Security:
    • Network Security
    • Cloud Security
    • End Point Security
    • Application Security
    • Others
    Market Breakup by Industry Vertical:
    • BFSI
    • Government
    • Healthcare and Life Sciences
    • Energy and Power
    • Manufacturing
    • Others
    Market Breakup by Region:
    • North India
    • East and Central India
    • West India
    • South India
    India IoT Security Market Share

    Based on region, the market is segmented into North India, East and Central India, West India, and South India. North India is projected to dominate the market, representing 30% of the overall market share. Over the forecast period, West India is expected to witness the fastest growth rate in the demand for IoT security solutions, growing at a CAGR of 27.1% due to the increasing government investments towards expanding healthcare accessibility, and rapid economic digitalisation. The shift towards boosting the reach of digital payments in remote areas is also expected to lead to market expansion.

    Leading Companies in the India IoT Security Market

    Major players are providing cloud based IoT security solutions to large organisations and SMEs for capturing a stronger India IoT security market share.

    Cisco Systems Inc.

    Cisco Systems Inc. is an American software development company which is based in California, United States. It was established in 1984 and specialises in manufacturing and selling high-tech services and products, such as networking hardware solutions.

    Infineon Technologies AG

    Infineon Technologies AG was established in April 1999 and is based in Germany. As per the India IoT security market analysis, it is involved in producing advanced semiconductors that find applications across a wide range of devices.

    IBM Corporation

    IBM Corporation is a multinational company which was founded in June 1911 and is based in New York, United States. It provides infrastructure, software, and consulting services for global clients which seek digital transformation for critical projects.

    Sophos Ltd.

    Sophos Ltd. is a UK-based software development company which was established in 1985. It is headquartered in Abingdon, Oxfordshire and specialises in offering IT security solutions to various businesses.

    Other players included in the India IoT security market report are Broadcom Inc., Intel Corp., HP Inc., Trend Micro Inc., AT&T Inc., Palo Alto Networks Inc., and Thales S.A. (Gemalto), among others.


    1 Executive Summary
    1.1 Market Size 2024-2025
    1.2 Market Growth 2025(F)-2034(F)
    1.3 Key Demand Drivers
    1.4 Key Players and Competitive Structure
    1.5 Industry Best Practices
    1.6 Recent Trends and Developments
    1.7 Industry Outlook
    2 Market Overview and Stakeholder Insights
    2.1 Market Trends
    2.2 Key Verticals
    2.3 Key Regions
    2.4 Supplier Power
    2.5 Buyer Power
    2.6 Key Market Opportunities and Risks
    2.7 Key Initiatives by Stakeholders
    3 Economic Summary
    3.1 GDP Outlook
    3.2 GDP Per Capita Growth
    3.3 Inflation Trends
    3.4 Democracy Index
    3.5 Gross Public Debt Ratios
    3.6 Balance of Payment (BoP) Position
    3.7 Population Outlook
    3.8 Urbanisation Trends
    4 Country Risk Profiles
    4.1 Country Risk
    4.2 Business Climate
    5 Asia Pacific IoT Security Market Overview
    5.1 Key Industry Highlights
    5.2 Asia Pacific IoT Security Historical Market (2018-2024)
    5.3 Asia Pacific IoT Security Market Forecast (2025-2034)
    6 India IoT Security Market Overview
    6.1 Key Industry Highlights
    6.2 India IoT Security Historical Market (2018-2024)
    6.3 India IoT Security Market Forecast (2025-2034)
    7 India IoT Security Market by Offering
    7.1 Solutions
    7.1.1 Historical Trend (2018-2024)
    7.1.2 Forecast Trend (2025-2034)
    7.1.3 Breakup by Type
    7.1.3.1 Identity and Access Management
    7.1.3.2 Device Management
    7.1.3.3 Data Encryption and Tokenization
    7.1.3.4 Unified Threat Management (UTM)
    7.1.3.5 Security Analytics
    7.1.3.6 Others
    7.2 Services
    7.2.1 Historical Trend (2018-2024)
    7.2.2 Forecast Trend (2025-2034)
    8 India IoT Security Market by Deployment Mode
    8.1 On-Premises
    8.1.1 Historical Trend (2018-2024)
    8.1.2 Forecast Trend (2025-2034)
    8.2 Cloud
    8.2.1 Historical Trend (2018-2024)
    8.2.2 Forecast Trend (2025-2034)
    9 India IoT Security Market by Organisation Size
    9.1 Large Enterprises
    9.1.1 Historical Trend (2018-2024)
    9.1.2 Forecast Trend (2025-2034)
    9.2 Small and Medium Enterprise (SMEs)
    9.2.1 Historical Trend (2018-2024)
    9.2.2 Forecast Trend (2025-2034)
    10 India IoT Security Market by Security
    10.1 Network Security
    10.1.1 Historical Trend (2018-2024)
    10.1.2 Forecast Trend (2025-2034)
    10.2 Cloud Security
    10.2.1 Historical Trend (2018-2024)
    10.2.2 Forecast Trend (2025-2034)
    10.3 End Point Security
    10.3.1 Historical Trend (2018-2024)
    10.3.2 Forecast Trend (2025-2034)
    10.4 Application Security
    10.4.1 Historical Trend (2018-2024)
    10.4.2 Forecast Trend (2025-2034)
    10.5 Others
    11 India IoT Security Market by Industry Vertical
    11.1 BFSI
    11.1.1 Historical Trend (2018-2024)
    11.1.2 Forecast Trend (2025-2034)
    11.2 Government
    11.2.1 Historical Trend (2018-2024)
    11.2.2 Forecast Trend (2025-2034)
    11.3 Healthcare and Life Sciences
    11.3.1 Historical Trend (2018-2024)
    11.3.2 Forecast Trend (2025-2034)
    11.4 Energy and Power
    11.4.1 Historical Trend (2018-2024)
    11.4.2 Forecast Trend (2025-2034)
    11.5 Manufacturing
    11.5.1 Historical Trend (2018-2024)
    11.5.2 Forecast Trend (2025-2034)
    11.6 Others
    12 India IoT Security Market by Region
    12.1 North India
    12.1.1 Historical Trend (2018-2024)
    12.1.2 Forecast Trend (2025-2034)
    12.2 East and Central India
    12.2.1 Historical Trend (2018-2024)
    12.2.2 Forecast Trend (2025-2034)
    12.3 West India
    12.3.1 Historical Trend (2018-2024)
    12.3.2 Forecast Trend (2025-2034)
    12.4 South India
    12.4.1 Historical Trend (2018-2024)
    12.4.2 Forecast Trend (2025-2034)
    13 Market Dynamics
    13.1 SWOT Analysis
    13.1.1 Strengths
    13.1.2 Weaknesses
    13.1.3 Opportunities
    13.1.4 Threats
    13.2 Porter’s Five Forces Analysis
    13.2.1 Supplier’s Power
    13.2.2 Buyer’s Power
    13.2.3 Threat of New Entrants
    13.2.4 Degree of Rivalry
    13.2.5 Threat of Substitutes
    13.3 Key Indicators of Demand
    13.4 Key Indicators of Price
    14 Competitive Landscape
    14.1 Supplier Selection
    14.2 Key Global Players
    14.3 Key Regional Players
    14.4 Key Player Strategies
    14.5 Company Profiles
    14.5.1 IBM Corp.
    14.5.1.1 Company Overview
    14.5.1.2 Product Portfolio
    14.5.1.3 Demographic Reach and Achievements
    14.5.1.4 Certifications
    14.5.2 Intel Corp.
    14.5.2.1 Company Overview
    14.5.2.2 Product Portfolio
    14.5.2.3 Demographic Reach and Achievements
    14.5.2.4 Certifications
    14.5.3 Cisco Systems Inc.
    14.5.3.1 Company Overview
    14.5.3.2 Product Portfolio
    14.5.3.3 Demographic Reach and Achievements
    14.5.3.4 Certifications
    14.5.4 Broadcom Inc.
    14.5.4.1 Company Overview
    14.5.4.2 Product Portfolio
    14.5.4.3 Demographic Reach and Achievements
    14.5.4.4 Certifications
    14.5.5 HP Inc.
    14.5.5.1 Company Overview
    14.5.5.2 Product Portfolio
    14.5.5.3 Demographic Reach and Achievements
    14.5.5.4 Certifications
    14.5.6 AT&T Inc.
    14.5.6.1 Company Overview
    14.5.6.2 Product Portfolio
    14.5.6.3 Demographic Reach and Achievements
    14.5.6.4 Certifications
    14.5.7 Trend Micro Inc.
    14.5.7.1 Company Overview
    14.5.7.2 Product Portfolio
    14.5.7.3 Demographic Reach and Achievements
    14.5.7.4 Certifications
    14.5.8 Infineon Technologies AG
    14.5.8.1 Company Overview
    14.5.8.2 Product Portfolio
    14.5.8.3 Demographic Reach and Achievements
    14.5.8.4 Certifications
    14.5.9 Thales SA (Gemalto)
    14.5.9.1 Company Overview
    14.5.9.2 Product Portfolio
    14.5.9.3 Demographic Reach and Achievements
    14.5.9.4 Certifications
    14.5.10 Palo Alto Networks Inc.
    14.5.10.1 Company Overview
    14.5.10.2 Product Portfolio
    14.5.10.3 Demographic Reach and Achievements
    14.5.10.4 Certifications
    14.5.11 Sophos Ltd.
    14.5.11.1 Company Overview
    14.5.11.2 Product Portfolio
    14.5.11.3 Demographic Reach and Achievements
    14.5.11.4 Certifications
    14.5.12 Others

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