India IoT in Manufacturing Market 2030: Size, Industry Share & Top Companies Analysis

According to the TechSci Research report titled "India IoT in Manufacturing Market - By Region, Competition, Forecast and Opportunities, 2030", India IoT in Manufacturing market was valued at USD 58.91 Billion in 2024 and is anticipated to project robust growth in the forecast period with a CAGR of 11.25% through 2030. The country's ongoing transition toward smart manufacturing, backed by favorable government policies and digital infrastructure development, positions India as a critical player in the global Industry 4.0 revolution.

Over recent years, India has taken significant strides in fostering an innovation-driven manufacturing environment. With strategic investments in digital transformation, encouragement of R&D initiatives, and active participation in global smart manufacturing forums, the country is building a strong foundation for IoT integration in industrial sectors.

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Market Growth Drivers

1. Surge in Demand for Connected Devices and Analytics

The increasing need for real-time monitoring, predictive maintenance, and remote asset management is fueling demand for connected devices in manufacturing. These devices, supported by robust IoT frameworks, enable industries to achieve higher operational efficiency and reduce downtime.

2. Rapid Adoption of Cloud Computing

Cloud platforms offer scalable storage, real-time analytics, and seamless integration, facilitating advanced IoT deployment in manufacturing. The proliferation of cloud-based services allows manufacturers to manage data across distributed environments, enhancing operational agility.

3. Expansion of Business Automation

Manufacturers are turning to automation to streamline workflows, reduce manual errors, and improve productivity. IoT technologies support automation by providing intelligent insights and enabling machines to communicate, react, and make decisions autonomously.

4. 5G Integration

The introduction of 5G in India presents a transformative opportunity for IoT in manufacturing. With ultra-low latency and massive device connectivity, 5G enhances real-time data communication, improving control over complex manufacturing systems.

5. IT Sector Growth and Government Support

India's thriving IT industry, contributing 8% to GDP in 2020, provides a solid technological backbone for IoT deployment. Government investments, including the Union Budget 2021 allocation of USD 7.31 billion to the IT sector, are catalyzing digital infrastructure growth and facilitating IoT adoption in manufacturing.

Challenges to Market Growth

While the outlook remains positive, the India IoT in manufacturing market faces a few hurdles:

• Data Privacy and Security Concerns: As data volume increases, ensuring cybersecurity and protecting sensitive manufacturing data becomes paramount.

• Lack of Interoperability: The absence of universal standards for IoT devices leads to integration issues, limiting the potential of cross-platform communication.

Market Segments Covered into Report:

India IoT in Manufacturing Market, By Component:

•   Solutions
•   Services
•   Platforms

India IoT in Manufacturing Market, By Application Area:

•   Predictive Maintenance
•   Business Process Optimization
•   Asset Tracking & Management
•   Logistics & Supply Chain Management
•   Real-Time Workforce Tracking & Management
•   Automation Control & Management
•   Emergency & Incident Management
•   Business Communication

India IoT in Manufacturing Market, By Vertical:

•  Energy & Utilities
•  Automotiveo   Food & Beverages
•  Aerospace & Defense
•  Chemicals & Materials
•  High-Tech Products
•  Healthcare
•  Others

Key Market Players

• IBM Corporation
• Cisco Systems, Inc.
• Huawei Technologies Co., Ltd.
• Microsoft Corporation
• Schneider Electric SE
• Siemens Aktiengesellschaft
• Bosch Limited
• SAP SE
• General Electric Company
• Zebra Technologies Corporation

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