Indian IoT Market 2026-2035

India Internet of Things (IoT) Market Size, Share & Trends Analysis Report by Component (Hardware, Software, and Services) by Connectivity Technology (Cellular (4G/LTE, 5G), Wi-Fi, Bluetooth, Zigbee, LoRaWAN, NFC, Satellite Communication, and Ethernet) by Deployment Mode (On-Premise, and Cloud-Based), By Organization Size (Small and Medium-sized Enterprises (SMEs), and Large Enterprises) and by End User (BFSI, IT & Telecom, Manufacturing, Transportation, Healthcare, Retail, Energy& Utilities, Residential, Government & Defense, and Others) Forecast Period (2026-2035)

Industry Overview

India internet of things market was valued at $7.3 billion in 2025 and is projected to reach $69.7 billion by 2035, growing at a CAGR of 25.4% during the forecast period (2026–2035). Organizations across utilities, transportation, and financial services are adopting structured IoT frameworks to enhance monitoring accuracy and operational responsiveness. The shift toward data-centric management models is strengthening long-term digital infrastructure investment. For example, Infosys provides IoT engineering and connected asset platforms that enable centralized visibility across distributed networks. Growing emphasis on measurable performance outcomes is encouraging enterprises to formalize IoT deployment strategies.

Market Dynamics

Expansion of Industrial and Smart Infrastructure IoT Deployments

India’s Internet of Things (IoT) market is witnessing steady growth driven by increasing adoption across manufacturing, energy, and urban infrastructure projects. Enterprises are integrating connected sensors and analytics platforms to improve asset utilization and operational visibility. Industrial automation and engineering service providers such as Tata Consultancy Services are supporting this transition through IoT-enabled platforms that connect equipment, data streams, and enterprise systems. Smart city initiatives and utility modernization programs are further strengthening demand for scalable IoT architectures. The convergence of connectivity, cloud computing, and real-time analytics is enabling more efficient decision-making frameworks. As digital infrastructure investment expands, IoT deployment continues to gain structural importance across public and private sectors.

Rising Demand for IoT Hardware, Connectivity, and Embedded Solutions

The Indian IoT landscape is also advancing through increased development of hardware modules, embedded systems, and device management technologies. The growing deployment of connected devices in the automotive, healthcare, and logistics sectors is encouraging domestic production and system integration capabilities. Technology firms such as Wipro Limited are offering IoT engineering services and edge computing solutions that support secure device communication and lifecycle management. The rollout of 5G connectivity and enhanced broadband infrastructure is further accelerating device-level intelligence adoption. Emphasis on data security and compliance is prompting enterprises to adopt structured IoT frameworks. Consequently, the ecosystem is evolving toward integrated hardware-software environments that support scalable and resilient operations.

Market Segmentation

• Based on the component, the market is segmented into hardware, software, and services.
• Based on the connectivity technology, the market is segmented into cellular (4G/LTE, 5G), Wi-Fi, Bluetooth, Zigbee, LoRaWAN, NFC, satellite communication, and Ethernet.
• Based on the deployment mode, the market is segmented into on-premise and cloud-based.
• Based on the organization size, the market is segmented into small and medium-sized enterprises (SMEs) and large enterprises.
• Based on the end user, the market is segmented into BFSI, IT & telecom, manufacturing, transportation, healthcare, retail, energy& utilities, residential, government & defense, and others.

Hardware Segment to Lead the Market with the Largest Share

The deployment of smart sensors, edge gateways, and secure chipsets is strengthening the physical foundation of connected systems. Domestic electronics design and manufacturing capabilities are gradually aligning with enterprise IoT requirements. VVDN Technologies contributes to this development through the production of IoT hardware platforms and integrated device solutions. Enhanced focus on energy efficiency and secure device architecture is further supporting hardware modernization. As component-level innovation advances, the reliability and scalability of IoT infrastructure across sectors continue to improve.

Manufacturing: A Key Segment in Market Growth

Manufacturers are incorporating connected machinery and predictive analytics systems to improve throughput consistency and equipment lifecycle management. The integration of machine data with enterprise control systems is refining production planning and quality oversight. L&T Technology Services supports industrial IoT adoption by delivering smart factory and connected engineering solutions. Automation combined with real-time diagnostics is enhancing transparency within supply chains and plant operations. This steady modernization of manufacturing frameworks remains a key driver of IoT expansion in India.

Market Players Outlook

The major companies operating in the Indian Internet of things market include HCL Technologies, Infosys, Tata Consultancy Services, Tech Mahindra, and Wipro Ltd., among others. Market players are leveraging partnerships, collaborations, mergers, and acquisition strategies for business expansion and innovative product development to maintain their market positioning.

Recent Developments

• In October 2025, the Reserve Bank of India (RBI) launched IoT Payments with UPI at the Global Fintech Festival (GFF). This enables seamless payments from connected devices like smart cars, wearables, and TVs for services such as EV charging via voice, text, or sensors, in partnership with NPCI.
• In May 2025, Mindgrove Technologies, incubated at IIT Madras, activated India's first commercial RISC-V-based secure IoT chip. The 64-bit, 700 MHz Secure IoT SoC targets edge devices, reducing costs by about 30% for local OEMs compared to imports.

The Report Covers

• Market value data analysis of 2025 and forecast to 2035.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the India internet of things market. Based on the availability of data, information related to new products and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.

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