The trade, hotels, transport, and communication industries had the highest GVA growth rate of ** percent among all other industries in India in the financial year 2022. Overall, the services sector registered the highest growth compared to the agriculture and industry sectors. Public administration, defense and other services industries were expected to have a GVA growth of over **** percent in the financial year 2025.
What is GVA? GVA or gross value added is the value of goods and services produced by an industry, sector, manufacturer, or region in an economy and is used to calculate the GDP of a country. GDP combines all GVA values across industries, levies taxes, and subsidies. While GDP calculates an overall number of goods produced by a nation, GVA measures the value added to the product. It is the difference between gross and net production. The sectoral analysis provided by GVA helps policymakers create sector-specific policies and make decisions regarding incentives. The National Statistical Office (NSO) publishes estimates of GVA in India on a quarterly and annual basis, elaborating on eight main types of commodities. Services sector In India India’s services sector covers a wide range of industries including trade, hotels, restaurants, IT-BPM, storage, communication, financing, insurance, real estate, business services, etc. Numerous government projects like Smart Cities, Clean Cities, and Digital India are strengthening the growth of the services sector. The sector also attracts significant foreign direct investment and contributes massively to exports, although agriculture accounts for the majority of the employed population.

In financial year 2022, service sector accounted for **** percent of total exports in India however, the sector made up to **** percent of the total imports in 2022. The share of services in the world trade had increased in the past two decades and it is one of the primary drivers of domestic growth.

In financial year 2025, the annual growth rates of gross value added (GVA) in trade, hotel, transport and broadcasting services were expected to reach six percent. This marked a decrease compared to the 15.2 percent GVA in 2022.

In 2023, 43.51 percent of the workforce in India were employed in agriculture, while the other half was almost evenly distributed among the two other sectors, industry and services. While the share of Indians working in agriculture is declining, it is still the main sector of employment. A BRIC powerhouseTogether with Brazil, Russia, and China, India makes up the four so-called BRIC countries. They are the four fastest-growing emerging countries dubbed BRIC, an acronym, by Jim O’Neill at Goldman Sachs. Being major economies themselves already, these four countries are said to be at a similar economic developmental stage -- on the verge of becoming industrialized countries -- and maybe even dominating the global economy. Together, they are already larger than the rest of the world when it comes to GDP and simple population figures. Among these four, India is ranked second across almost all key indicators, right behind China. Services on the riseWhile most of the Indian workforce is still employed in the agricultural sector, it is the services sector that generates most of the country’s GDP. In fact, when looking at GDP distribution across economic sectors, agriculture lags behind with a mere 15 percent contribution. Some of the leading services industries are telecommunications, software, textiles, and chemicals, and production only seems to increase – currently, the GDP in India is growing, as is employment.

According to Cognitive Market Research, the global IT Services market size was USD 984.8 billion in 2022 and will grow at a compound annual growth rate (CAGR) of 8.70% from 2023 to 2030. What are the Key Opportunities Influencing the IT Services Market?

Increasing Number Of Smart Cities Supports Industry Growth

Governments throughout the world are investing in the creation of smart cities. With research money and environmental aims for member countries, the European Union supports smart city activities. Smart cities are also becoming more popular in developing countries. Around 300 smart city pilot projects are being developed in China and India alone. These objectives necessitate the implementation of cutting-edge IT infrastructure.

The emergence of AI is significantly driving the IT Services Market

This will be a big future growth driver for the IT services industry. Tencent also pledged a $70 billion investment in artificial intelligence, cloud computing, and cybersecurity between 2022 and 2030. Chinese firms have shown a significant desire to establish themselves in India through investments.

(Source:www.cnbc.com/2020/05/27/china-tech-giant-tencent-pledges-70-billion-investment-in-ai-cloud.html)

Still, their condition has deteriorated as New Delhi's attitude toward Chinese technology and investment in its domestic market has shifted. This will be a major future growth driver for the IT services sector.

Market Dynamics of IT Services Market

Key Drivers for IT Services Market

Quick Digital Change in All Sectors: Businesses in a variety of industries, including manufacturing, retail, healthcare, and finance, are quickly digitizing their processes to boost productivity, customer satisfaction, and competitive standing. This change is driving up demand for IT services including software integration, infrastructure management, and cloud migration, particularly from businesses implementing automation and data-driven tactics. Growing Use of Hybrid IT Models and Cloud Computing: IT service providers are in great demand for consultation, implementation, and managed services as companies shift from on-premise infrastructure to cloud-based solutions. Recurring revenue opportunities in deployment, migration, security, and optimization services are being created by the growth of hybrid and multi-cloud solutions.

Key Restraints for IT Services Market

High labor costs and a lack of talent: The ability of service providers to grow is being constrained by the worldwide lack of qualified IT workers, particularly in the fields of artificial intelligence, cybersecurity, cloud architecture, and DevOps. Profit margins are also being strained by the high expense of recruiting and keeping skilled workers, especially for mid-sized businesses. Privacy and Data Security Issues with Outsourcing: Because of worries about data breaches, third-party access, and regulatory issues, businesses are still hesitant to outsource critical activities. These issues may cause businesses that handle sensitive or proprietary data to postpone or cut back on their use of outside IT service providers.

Key Trends for IT Services Market

Rise of Automation, AI, and Integration with AIOps: In order to boost predictive maintenance, automate repetitive processes, and improve decision-making, AI and machine learning are being included into IT service delivery models. Infrastructure management is being revolutionized by the emergence of AIOps (Artificial Intelligence for IT Operations), which enables proactive problem solving and efficient resource utilization. Growth in As-a-Service and Managed Offerings: Managed services and "as-a-service" models (such as SaaS, IaaS, PaaS, and Security-as-a-Service) are rapidly replacing traditional IT support. These models are appealing to both major corporations and small businesses due to their predictable costs, scalability, and decreased internal IT burden.

Impact of the COVID-19 Pandemic on the IT Services Market:

The epidemic has expedited digital transformation across industries, as firms have had to adjust to distant work and online operations. This raised demand for IT services such as cloud computing, cybersecurity, and digital transformation consultancy. Companies needed to quickly integrate remote collaboration solutions, improve their cybersecurity procedures, and optimize their digit...

In 2023, almost half of India’s GDP was generated by the services sector, a slight and steady increase over the last 10 years. Among the leading services industries in the country are telecommunications, IT, and software. The IT factorThe IT industry is a vital part of India’s economy, and in the fiscal year of 2016/2017, it generated about 8 percent of India’s GDP alone – a slight decrease from previous years, when it made up about 10 percent of the country’s economy. Nevertheless, the IT industry is growing, as is evident by its quickly increasing revenue and employment figures. IT includes software development, consulting, software management, and online services, and business process management (BPM). Employee migrationAlthough employment figures in IT, and thus in the services sector, are on the rise, most of the Indian workforce is still employed in agriculture, however, the figures show a trend pointing towards a reversal of this distribution. For now, the majority of Indians still do not live in cities – where IT jobs are generated – but urbanization is on the rise as well.

Key information about India Labour Productivity Growth

• India Labour Productivity dropped by 2.80 % YoY in Dec 2022, compared with a growth of 3.99 % in the previous year
• India Labour Productivity Growth data is updated yearly, available from Dec 1992 to Dec 2022, averaging at 4.31 %
• The data reached an all-time high of 9.15 % in Dec 2016 and a record low of 0.74 % in Dec 2000

Abstract

National Statistical Office (NSO) of India will be conducting Annual Survey on Unincorporated Sector Enterprises (ASUSE) 2022-23 during October 2022 to September 2023.

This survey will be devoted exclusively to economic and operational characteristics of unincorporated non-agricultural establishments in manufacturing, trade and other services sector. The unit of enquiry of the ASUSE will be an ‘establishment’.

Unincorporated sector is an integral part of Indian econ my, which not only comprises of large number of establishments but also generates large number ofemployment in this sector. Besides, its contribution to Gross Domestic Product (GDP) of the country is also significant. Unincorporated sector has tremendous potential to grow higher.

The ASUSE 2022-23, which will be launched in October 2022 andcontinue till September 2023, will cover all unincorporated non-agricultural establishments belonging to three sectors viz., Manufacturing, Trade and Other Services.

(i) The survey will cover the following broad categories: (a) Manufacturing establishments excluding those registered under Sections 2m(i) and2m(ii) of the Factories Act, 1948 (b) Manufacturing establishments registered under Section 85 of Factories Act, 1948 (c) Establishments engaged in cotton ginning, cleaning and bailing (code 01632 of NIC-2008) excluding those registered under Sections 2m(i) and 2m(ii) of the Factories Act,1948 (d) Establishments manufacturing Bidi and Cigar excluding those registered under bidi and cigar workers (conditions of employment) Act, 1966 (e) Non-captive electric power generation, transmission and distribution by units not registered with the Central Electricity Authority (CEA) (f) Trading establishments (g) Other Service sector establishments

Geographic coverage

The survey will cover the rural and urban areas of whole of India (except the villages in Andaman and Nicobar Islands which are difficult to access). The definitions of urban and rural areas as per census 2011 are given below:

Urban: Constituents of urban area are Statutory Towns, Census Towns and Outgrowths.

Statutory Town (ST): All places with a municipality, corporation, cantonment board or notified towns area committee, etc.

Census Town (CT): Places that satisfy the following criteria are termed as Census Towns (CTs). a. A minimum population of 5000 b. At least 75% of the male main working population engaged in non-agricultural pursuits c. A density of population of at least 400 per sq.km.

Out Growth (OG): Out Growth should be a viable unit such as a village or part of a village contiguous to a statutory town and possess the urban features in terms of infrastructure and amenities such as pucca roads, electricity, taps, drainage system, education institutions, post offices, medical facilities, banks, etc. Examples of OGs are Railway colonies, University campuses, Port areas, that may come up near a CT or statutory towns outside its statutory limits but within the revenue limit of a village or villages contiguous to the town or city.

Urban Agglomeration (UA): It is a continuous urban spread constituting a town and its adjoining urban outgrowths (OGs) or two or more physically contiguous towns together and any adjoining urban out-growth of such towns. Rural: All area other than urban are rural. The basic unit for rural area is the revenue village.

Sampling procedure

Outline of sample design: A stratified multi-stage sampling design will be adopted for ASUSE.

Rural sector: The first stage units (FSU) will be the census villages in the rural sector. For rural part of Kerala, Panchayat wards (PW) will be taken as FSUs.

Urban sector: The First Stage Units (FSU) will be the latest updated UFS (Urban Frame Survey) blocks.

The Ultimate Stage Units (USU) will be establishments for both the sectors. In the case of large FSUs, one intermediate stage of sampling will be the selection of three hamlet-groups (HGs)/sub-blocks (SBs) from each of the large FSUs.

Sampling frame to be used for selection of FSUs

Census 2011 list of villages will be used as the sampling frame for rural areas. Auxiliary information such as number of workers, etc. available from Sixth Economic Census (EC) frame will be used for stratification, sub-stratification and selection of FSUs, for rural areas (except Kerala). In rural areas of Kerala, list of Panchayat Wards (PW) as per Census 2011 will be used as sampling frame. For all urban areas, the latest updated list of UFS blocks will be the sampling frame.

Stratification of FSUs:

Rural sector: Each NSS State region will constitute a rural stratum.

Urban sector: In urban areas, strata will be formed within each NSS State region on the basis of population of towns as per Census 2011. The tentative stratum numbers and their composition (within each NSS State region) will be as follows:

stratum 1 : all towns with population less than 50,000 stratum 2 : all towns with population 50,000 or more but less than 3 lakhs stratum 3 : all towns with population 3 lakhs or more but less than 10 lakhs stratum 4, 5, 6, ... : each city with population 10 lakhs or more

Mode of data collection

Face-to-face [f2f]

Snapshot img

Online Home Service Market Size 2024-2028

The online home service market size is forecast to increase by USD 8214.1 billion, at a CAGR of 75.8% between 2023 and 2028.

The market is experiencing significant growth, driven by the increasing influence of digital media and the rising number of advertising and marketing campaigns. This digital transformation is reshaping consumer behavior, with an increasing number of homeowners turning to online platforms to discover, compare, and book home services. However, this market is not without challenges. One major obstacle is the lack of effective pricing strategies for online home services. As competition intensifies, companies must find innovative ways to differentiate themselves and attract price-sensitive consumers. This requires a nuanced understanding of consumer preferences and market dynamics, as well as the ability to offer competitive pricing without sacrificing profitability.
To succeed in this dynamic market, companies must stay agile, adapt to changing consumer expectations, and leverage technology to streamline operations and enhance the customer experience. By focusing on these key drivers and challenges, companies can capitalize on the opportunities presented by the market and navigate its complexities with confidence.

What will be the Size of the Online Home Service Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The market continues to evolve, with dynamic market activities unfolding across various sectors. Professional cleaners employ route optimization to enhance efficiency, ensuring timely service delivery. Customer satisfaction is paramount, leading to the implementation of referral programs and cleaning logs to maintain high standards. Staff training is ongoing, focusing on the use of dusting supplies and advanced cleaning equipment. Recurring cleaning contracts and growth strategies are key growth drivers, with commercial and residential sectors adopting flat rates and background checks for workforce management. Smart cleaning devices and cleaning apps facilitate online booking and scheduling, while safety protocols and licensing requirements ensure environmental compliance and sustainability practices.

Pricing models vary, with hourly rates and service area-based pricing common. Insurance coverage, marketing strategies, and customer relationship management are essential business operations components. Housekeeping services and maid services offer one-time cleaning, while cleaning solutions cater to apartment complexes and eco-friendly cleaning practices gain popularity. Industry regulations dictate cleaning standards, with cleaning products and chemicals subject to strict environmental compliance. Online advertising and social media marketing are effective marketing tools, while cleaning technology advances with smart cleaning devices and cleaning services. Customer reviews shape perceptions, with positive feedback driving business growth. Eco-friendly cleaning, vacuum cleaners, and move-in/move-out cleaning are essential services, with cleaning logs and staff training ensuring consistency and quality.

The market's continuous evolution reflects the industry's commitment to meeting evolving customer needs and expectations.

How is this Online Home Service Industry segmented?

The online home service industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Service

  Health wellness and beauty
  Home care and design
  Repair and maintenance
  Others


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China
    India


  Rest of World (ROW)

.

By Service Insights

The health wellness and beauty segment is estimated to witness significant growth during the forecast period.

The market in the US is experiencing notable growth, particularly in the home care and design segment. This segment encompasses various services such as interior designing, pest control, deep home cleaning, sofa cleaning, laundry services, glasswork, woodwork, waterproofing, masonry, and carpentry. The fragmented market comprises numerous small and large players offering these services online. Professional cleaners prioritize customer satisfaction through workforce management, cleaning checklists, and safety protocols. Green cleaning practices are increasingly popular, with eco-friendly cleaning products and sustainability practices gaining traction. Commercial and residential cleaning services, including office cleaning and apartment cleaning, are in high demand.

Flat rates and background checks ensure transparency and trust for customers

The Indian analytics market, a significant contributor to the global landscape, is experiencing robust growth, driven by the increasing adoption of data-driven decision-making across diverse sectors. The market, valued at approximately $2.17 billion in 2025 (based on provided global data and considering India's significant contribution to the IT sector), is projected to maintain a healthy Compound Annual Growth Rate (CAGR) of 7.66% through 2033. This expansion is fueled by several key factors, including the burgeoning digital economy, rising government initiatives promoting digitalization, and the expanding adoption of cloud computing and big data technologies. The BFSI (Banking, Financial Services, and Insurance) sector, along with Retail and Telecommunications/IT, are major drivers, exhibiting strong demand for advanced analytics solutions to enhance customer experience, optimize operations, and mitigate risks. The market is segmented by solution type (software, services), organization size (SME, large enterprises), and end-user vertical, offering diverse opportunities for both established players and emerging companies. While data privacy concerns and the need for skilled professionals present some challenges, the overall outlook remains positive, with significant potential for continued expansion. The competitive landscape is characterized by a mix of global giants like SAS Institute, IBM, and TIBCO, and strong domestic players like Wipro, Infosys, and Mu Sigma. These companies are actively investing in research and development, strategic partnerships, and talent acquisition to maintain their market position. The increasing demand for specialized services, such as managed analytics services, is creating opportunities for businesses specializing in providing tailored solutions. The government's emphasis on digital infrastructure and data security is shaping the regulatory environment, fostering both growth and responsible data handling practices. Looking ahead, the Indian analytics market is expected to witness further consolidation, increased investment in AI and machine learning technologies, and a growing adoption of predictive and prescriptive analytics across sectors, creating a dynamic and evolving market with immense potential for innovation and growth. This comprehensive report provides a detailed analysis of the burgeoning Analytics Market in India, projecting significant growth from ₹XXX Million in 2025 to ₹XXX Million by 2033. Covering the historical period (2019-2024), base year (2025), and forecast period (2025-2033), this study offers invaluable insights for businesses navigating this dynamic landscape. We delve into market segmentation by type (solution, managed services), organization size (SME, large enterprise), and end-user vertical (BFSI, retail, IT & telecom, media & entertainment, healthcare, others). Key players like SAS Institute Inc, TIBCO Software Inc, IBM Corporation, Wipro Ltd, Sigma Data Systems, Capgemini SE, Mu Sigma Business Solutions Pvt Ltd, Fractal Analytics Limited, WNS (Holdings) Ltd, and Infosys Ltd are analyzed for their market share and strategic moves. Recent developments include: May 2023: with the introduction of its DIgital Content Ratings Solutions (DCR), Nielsen, a solution in audience measurement, data and analytics has once again shown its dedication to impartial, digital audience content measuremnt in India. Nielsen's Identity System, which will leverage the same big data as the market's Digital Ad Ratings, is intended to fuel DCR in India., November 2022: Wipro Ltd. partnered with a US-based cloud computing service provider, VMware. The partnership was to see Wipro offer VMware's cloud computing and remote work platform, allowing enterprises to offer security standards and other services to a distributed workforce., September 2022: Sigma Computing announced its partnership with Snowflake, the Data Cloud company, to launch a seamless integration experience for joint customers on the Snowflake Healthcare & Life Sciences Data Cloud. The Snowflake Healthcare & Life Sciences Data Cloud offered healthcare companies a single, integrated, and cross-cloud data platform that eliminated technical and institutional data silos to centralize securely, integrate, and exchange critical and sensitive data at scale.. Key drivers for this market are: Reduction in Cost of Implementation will act as a Driver, Increasing Number of Connected Devices. Potential restraints include: Structural Barriers and Decentralized Systems act as a Restraint, Lack of Skilled Professionals. Notable trends are: The BFSI Segment is Expected to Drive the Market's Growth.

According to Cognitive Market Research, the Global Healthcare BPO services market was estimated at USD 358.5 billion in 2022 and will grow at a compound annual growth rate (CAGR) of 10.30% from 2023 to 2030. Factors Affecting the Healthcare BPO Services Market

Increasing Demand for Patient-Centred Therapies and Advancements in the Healthcare System Drives Market Growth.

The shift to patient-centered care models is driving the expansion of the healthcare BPO services industry. Demand for streamlined, patient-focused administrative and operational assistance is increasing as healthcare institutions worldwide increasingly recognize the necessity of adapting treatments and services to particular patient needs. By handling non-core tasks like billing, claims processing, and appointment scheduling, BPO providers are crucial in allowing healthcare organizations to concentrate on providing individualized care.

By 2025, about half of all healthcare organizations worldwide will have adopted AI policies, and some business analysts think this will significantly impact future business practices.

(Source:pharmanewsintel.com/news/ai-in-the-pharma-industry-current-uses-best-cases-digital-future)

Healthcare BPO services market growth has been driven by advancements in healthcare technology, such as electronic health records (EHRs), telemedicine systems, and analytics powered by artificial intelligence. Healthcare organizations should use BPO providers' expertise in integrating and managing these technologies to maximize clinical results, utilize data insights, and improve patient engagement.

Increasing Demand for Reduced Healthcare Expenses to Drive Market Growth

Healthcare organizations are searching for efficient cost-conservation techniques due to the rising expenses of healthcare services. Billing, claims processing, and revenue cycle management are examples of non-core administrative tasks businesses can outsource using healthcare BPO services as a solution. Healthcare providers can focus on core clinical operations while optimizing resource allocation, cutting overhead, and lowering costs.

The healthcare industry in India was worth about 280 billion dollars in 2020, and by 2022, it was estimated to grow to 372 billion dollars. The healthcare market in the nation had grown quickly and was now one of the largest industries in terms of employment and income.

(Source:www.cureus.com/articles/156574-the-transformation-of-the-indian-healthcare-system#!/)

Healthcare organizations can maximize their resources by outsourcing administrative and operational work to specialized BPO providers. This results in increased labor productivity and the effective use of qualified personnel for patient care and medical services.

Factors Hindering the Healthcare BPO Services Market Growth

Data Privacy and Security Issues to Hinder Market Growth

Worries about data security and privacy severely constrain the market for healthcare BPO services. Handling sensitive patient information, financial records, and medical data to avoid breaches and unauthorized access calls for strong cybersecurity safeguards. The risk of data breaches and improper treatment of patient data can undermine trust between healthcare organizations and BPO providers, resulting in harm to reputations and legal consequences.

The COVID-19 Impact on Healthcare BPO Services Market

The COVID-19 pandemic brought serious disruptions in several businesses, and the healthcare industry was no exception. Due to the pandemic, there were significant changes in the market for healthcare BPO services. The pandemic made the value of technological advancements and distant operations clear. To continue providing services during lockdowns and social isolation measures, healthcare BPO providers quickly embraced technology, including telehealth support, virtual consultations, and remote monitoring. The need for BPO services that might help these technological transformations grow due to the accelerated digital transformation. The need for telehealth services has increased, leading to increased services offered by BPO firms specializing in appointment settings, patient support, and remote monitoring. They aided healthcare facilities in managing the surge in online consultations and delivering a seamless patient experience. What are Healthcare BPO Services?

The increasing need for efficient healthcare operations, the gro...

The Indian telecom industry, a dynamic and rapidly evolving sector, is projected to reach a market size of $48.61 billion in 2025, exhibiting a robust Compound Annual Growth Rate (CAGR) of 9.40% from 2019 to 2033. This growth is fueled by several key drivers. Increased smartphone penetration, particularly in rural areas, is expanding the subscriber base significantly. The rising demand for high-speed data, driven by the proliferation of streaming services and mobile gaming, is another significant contributor. Furthermore, the government's initiatives promoting digital India and improving infrastructure are creating a favorable environment for industry expansion. The sector's segmentation into voice services (wired and wireless), data services, and OTT/Pay-TV services reflects the diverse offerings catering to a wide spectrum of consumer needs. Competition among major players like Reliance Jio Infocomm, Bharti Airtel, Vodafone Idea Limited, BSNL, and MTNL is intensifying, leading to innovative service offerings and competitive pricing strategies. While challenges remain, such as infrastructure gaps in certain regions and regulatory hurdles, the overall outlook for the Indian telecom market remains positive, promising substantial growth in the coming years. The forecast period of 2025-2033 anticipates continued expansion, driven by sustained growth in data consumption, the adoption of 5G technology, and the increasing demand for advanced telecommunication solutions. The regional distribution of market share will likely see a concentration in urban areas initially, with gradual penetration into rural markets as infrastructure improves and affordability increases. The industry's success will depend on effective network expansion, strategic investments in 5G infrastructure, and the ability to adapt to evolving consumer preferences. The continuous development of innovative services, such as IoT and cloud-based solutions, will be crucial for maintaining competitiveness and attracting new subscribers. The regulatory landscape will also play a critical role in shaping the industry's trajectory, influencing pricing policies, spectrum allocation, and infrastructure development. Recent developments include: October 2022 - Vi (Vodafone Idea Limited) expanded network capacity in Andhra Pradesh and Telangana to ensure superior giganet 4G speed. It increased the deployment of the 1,800 MHz spectrum band to provide higher download and upload speeds. It also launched a campaign to emphasize Andhra Pradesh and Telangana's stronger and superior network., February 2022 - Jio Platforms Limited ("JPL"), India's significant digital service provider, and SES, a prominent global satellite-based content connectivity solutions provider, announced the formation of Jio Space Technology Limited, a joint venture to deliver next-generation scalable and affordable broadband services in India through satellite technology. JPL and SES will each own 51% and 49% of the joint company, respectively.. Key drivers for this market are: Increasing Penetration of 4G and Upgradation of 5G, Foreign Direct Investment (FDI). Potential restraints include: High Initial Cost and Lower Awareness. Notable trends are: Increasing Penetration of 4G and Upgradation of 5G.

During the financial year 2022, the sectors of manufacturing and agriculture showed resilience to the pandemic with a growth of *** and *** percent respectively, over last financial year. The sector of trade, hotels, transport, communication and services suffered during the period with a contraction of **** percent.

The Indian Contract Manufacturing Organization (CMO) industry is experiencing robust growth, projected to reach a market size of $22.51 billion in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 14.67% from 2025 to 2033. This expansion is driven by several factors. Firstly, the increasing demand for pharmaceutical products globally, coupled with stringent regulatory requirements and rising R&D costs, incentivizes pharmaceutical companies to outsource manufacturing to specialized CMOs. India's cost-effective manufacturing capabilities, large skilled workforce, and established infrastructure provide a compelling advantage in this landscape. Secondly, the growing focus on generic drugs and biosimilars creates significant opportunities for Indian CMOs, as these products often require large-scale, cost-efficient manufacturing processes. Furthermore, the government's initiatives to promote the pharmaceutical sector, including incentives for investments and streamlined regulatory processes, further bolster the industry's growth. The industry is segmented by service type (API and Intermediates, Finished Dose – Solids, Liquids, Semi-Solids, and Injectables) and caters to a global clientele. Leading players like Cipla, Dr. Reddy's Laboratories, and Sun Pharmaceuticals (though not explicitly listed, a major player assumed to be included in "List Not Exhaustive") are major contributors, signifying the industry's maturity and competitiveness. The market's growth is anticipated to be regionally diverse. While the data doesn't specify exact regional breakdowns, it can be inferred that regions like North America and Europe, with their large pharmaceutical markets and high demand for outsourced manufacturing, will remain significant consumers of Indian CMO services. However, the Asia Pacific region, particularly India itself, is likely to experience disproportionately high growth given the domestic market expansion and the increasing concentration of manufacturing capabilities. Challenges like maintaining quality standards to meet global regulatory norms and managing fluctuating raw material prices remain considerations for sustained growth. Nevertheless, the strong fundamentals and positive outlook suggest the Indian CMO sector is poised for significant expansion in the coming years. Recent developments include: In June of 2022: Glenmark Pharmaceuticals introduced the cutting-edge fixed-dose combination (FDC) medication Indacaterol + Mometasone for patients with uncontrolled asthma in India. The business introduced this FDC under the name Indamet. Glenmark is the first business in India to commercialize the ground-breaking FDC of Indacaterol, a long-acting beta-agonist, and Mometasone Furoate, an inhaled corticosteroid that has been authorized by the Drug Controller General of India (DCGI),, In May 2022: Sun Pharma announced that one of its wholly-owned subsidiaries plans to launch a first-in-class oral drug, Bempedoic Acid, in India for reducing Low-Density Lipoprotein (LDL) cholesterol. The company will launch the drug under the brand name 'Brillo.', In March 2022: The Mumbai-based pharmaceutical business Themis Medicare Ltd. announced that the Drug Controller General of India had approved their antiviral medication VIRALEX (DCGI). In mild to moderate Covid-19 sufferers, the medication aids in the early treatment of clinical symptoms, according to the findings of double-blind, randomized controlled trials (RCT).. Key drivers for this market are: Availability of Skilled Labor at Relatively Lower Cost, Sustained increase in outsourcing volumes by big pharma companies; Geographical advantage in the form of access to large markets in the APAC region. Potential restraints include: The existence of stringent government restrictions and a decrease in the approval of numerous small molecules and biologics in specific regions of the nation. Notable trends are: Generic Medicine Under Solid Finished Dose Segment Holds Significant Share in The Market.

The India Product Lifecycle Management (PLM) market is experiencing robust growth, projected to reach $390.85 million in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 11.48% from 2025 to 2033. This expansion is fueled by several key drivers. The increasing adoption of Industry 4.0 technologies, including digital twins and IoT integration, across various sectors like automotive, aerospace, and high-tech, is significantly boosting demand for PLM solutions. Furthermore, the growing need for enhanced product development efficiency, reduced time-to-market, and improved collaboration across the value chain are driving organizations to invest in sophisticated PLM systems. The Indian manufacturing sector's focus on innovation and globalization further accelerates this market's trajectory. Competitive pricing strategies from both domestic and international players are also making PLM accessible to a wider range of businesses, particularly SMEs. Despite the strong growth trajectory, certain challenges restrain the market's full potential. Integration complexities with existing legacy systems, the need for skilled personnel to operate and maintain these systems, and the high initial investment costs can deter some companies from adopting PLM solutions. However, cloud-based PLM solutions and flexible subscription models are emerging to mitigate these challenges, making PLM more accessible and affordable for a broader customer base. The market is segmented by component (solutions and services) and end-user industry (automotive, engineering, FMCG, aerospace, high-tech, and others). Major players like Siemens, Dassault Systèmes, Autodesk, and Ansys are actively competing in this dynamic market, offering a wide range of solutions tailored to specific industry needs. The continued focus on innovation, government initiatives promoting digital transformation, and the expanding manufacturing sector will further solidify India's position as a significant PLM market in the coming years. Recent developments include: May 2022 - Siemens announced the expansion of its state-of-the-art Siemens PLM software global R&D Center in Pune. The center acts as the Asia-Pacific infrastructure hub focused on cutting-edge software product development., April 2022 - BWC Labs, a digital transformation consulting and solution services company in Pune, signed a value-added reseller (VAR) agreement with Dassault Systemes, aligned on the reach and potential of virtual twin technology. BrainWave and Dassault Systemes will jointly offer Virtual Twin experiences for the manufacturing sector in India., April 2022 - PTC announced an agreement with ITC Infotech to accelerate customer digital transformation initiatives, focused on adopting PTC's industry-leading Windchill product lifecycle management (PLM) software as a service (SaaS). ITC Infotech will acquire a portion of PTC's PLM implementation services business and create a new business unit of ITC Infotech, called DxP Services, that will combine PLM professional services experts from both companies. Together, the two companies will work to deliver 'in-flight' Windchill implementation services for a broad set of existing PTC customers while also enabling a growing number of customers to move from their existing, sometimes highly-customized on-premises implementation of Windchill to next-generation, best-practice SaaS.. Key drivers for this market are: Increasing Need For Higher Efficiency, Productivity And Meeting The Changing Demands, Research And Development Activities From SMBs To Develop Smart Products. Potential restraints include: Increasing Need For Higher Efficiency, Productivity And Meeting The Changing Demands, Research And Development Activities From SMBs To Develop Smart Products. Notable trends are: Research and Development Activities From SMBs to Develop Smart Products to Drive the Market.

Snapshot img

It Services Market Size 2024-2028

The it services market size is forecast to increase by USD 676.5 billion at a CAGR of 8.64% between 2023 and 2028.

The market is experiencing significant growth, driven by key trends such as the increasing adoption of artificial intelligence (AI) in information management. Businesses are recognizing the benefits of AI in streamlining processes, improving efficiency, and gaining valuable insights from data. Another trend is the emergence of cloud-based platforms, which offer flexibility, scalability, and cost savings. However, the market also faces challenges, including the increasing risks involved in outsourcing. Companies must carefully evaluate potential risks, such as data security and intellectual property theft, before outsourcing IT services. Overall, these trends and challenges are shaping the market and will continue to influence its growth In the coming years.

What will be the Size of the It Services Market During the Forecast Period?

Request Free SampleThe market is experiencing significant growth and transformation, driven by the increasing adoption of digital technologies such as cloud computing and the proliferation of connected devices. Businesses across industries, including the IT & telecom sector and retail, are prioritizing digital transformation to enhance operational efficiency and customer experience. This shift is leading to increased demand for IT services that focus on innovation & automation, data security, privacy protection, and machine learning (ML) and data analytics for big data solutions. Cybersecurity solutions are also a critical area of focus, given the growing threat landscape and the need for robust security strategies and planning.Managed security services and application management are becoming essential for firms seeking proactive IT services to mitigate risks and maintain optimal system performance. The adoption of digital tools and e-commerce platforms is accelerating, creating new opportunities for IT companies. However, the increasing reliance on technology also brings challenges, such as data privacy regulations and the need for effective data management. The market is evolving rapidly, with large enterprises leading the way in on-premises deployment and design & implementation of advanced IT solutions. Reactive IT services are giving way to proactive approaches, as organizations recognize the importance of staying ahead of potential issues and maintaining optimal system performance.Innovation resources, including ML and data analytics, are playing a crucial role in driving business growth and competitiveness. Despite the challenges, the future of the market looks bright, with continued investment in digital technologies and a focus on innovation and automation.

How is this It Services Industry segmented and which is the largest segment?

The it services industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. End-userTechnology and telecommunicationBFSITravel and hospitalityHealthcareOthersServiceIT consulting servicesInternet services and infrastructureData processing and outsources servicesGeographyAPACChinaIndiaJapanNorth AmericaUSEuropeUKSouth AmericaMiddle East and Africa

By End-user Insights

The technology and telecommunication segment is estimated to witness significant growth during the forecast period.

The market plays a pivotal role In the telecommunications sector, enabling advanced technologies such as cloud computing, digital tools, and cybersecurity solutions. Telecommunications companies require IT services for complex pricing systems, real-time processes, and the integration of digital technologies into their offerings. IT infrastructure is essential for voice communication services, especially in markets where growth is slowing down. In the current business landscape, IT services are not just a necessity but a value-driver. Telecommunications firms invest in innovation and automation, including machine learning, data analytics, and big data solutions, to enhance customer experience and streamline operations. Cybersecurity and data privacy regulations are top priorities, necessitating robust IT strategies and planning.IT support services, including managed security services, are increasingly in demand. The e-commerce sector and retail industry are significant end-users of IT services. The IT & telecom sector, along with large enterprises, is expected to be the major contributor to the market's growth. The future development of IT services is driven by investments in artificial intelligence, cloud-based IT services, and the implementation of IT infrastructure in smart cities and emerging countries. The market's success is determined by feasibility, cost, and

India HVAC Market Size, Share & Analysis 2022 By Product Type (Direct Expansion & Central Air Conditioning Systems), By End Use Sector (Residential, Institutional, etc.) Competition Forecast & Opportunities,

Abstract

National Statistical Office (NSO) of India will be conducting 2nd round of Annual Survey on Unincorporated Sector Enterprises (ASUSE) during April 2021 – March 2022.

This survey will be devoted exclusively to economic and operational characteristics of unincorporated non-agricultural establishments in manufacturing, trade and other services sector. The unit of enquiry of the ASUSE will be an 'establishment'.

Unincorporated sector is an integral part of Indian econ my, which not only comprises of large number of establishments but also generates large number ofemployment in this sector. Besides, its contribution to Gross Domestic Product (GDP) of the country is also significant. Unincorporated sector has tremendous potential to grow higher.

The coverage of Annual Survey of Unincorporated Sector Enterprises (ASUSE) (April 2021 – March 2022) will be unincorporated non-agricultural establishments belonging to three sectors viz., Manufacturing, Trade and Other Services.

(i) The survey will cover the following broad categories: (a) Manufacturing establishments excluding those registered under Sections 2m(i) and2m(ii) of the Factories Act, 1948 (b) Manufacturing establishments registered under Section 85 of Factories Act, 1948 (c) Establishments engaged in cotton ginning, cleaning and bailing (code 01632 of NIC-2008) excluding those registered under Sections 2m(i) and 2m(ii) of the Factories Act,1948 (d) Establishments manufacturing Bidi and Cigar excluding those registered under bidi and cigar workers (conditions of employment) Act, 1966 (e) Non-captive electric power generation, transmission and distribution by units not registered with the Central Electricity Authority (CEA) (f) Trading establishments (g) Other Service sector establishments

Geographic coverage

The survey will cover the rural and urban areas of whole of India (except the villages in Andaman and Nicobar Islands which are difficult to access). The definitions of urban and rural areas as per census 2011 are given below:

Urban: Constituents of urban area are Statutory Towns, Census Towns and Outgrowths.

Statutory Town (ST): All places with a municipality, corporation, cantonment board or notified towns area committee, etc.

Census Town (CT): Places that satisfy the following criteria are termed as Census Towns (CTs). a. A minimum population of 5000 b. At least 75% of the male main working population engaged in non-agricultural pursuits c. A density of population of at least 400 per sq.km.

Out Growth (OG): Out Growth should be a viable unit such as a village or part of a village contiguous to a statutory town and possess the urban features in terms of infrastructure and amenities such as pucca roads, electricity, taps, drainage system, education institutions, post offices, medical facilities, banks, etc. Examples of OGs are Railway colonies, University campuses, Port areas, that may come up near a CT or statutory towns outside its statutory limits but within the revenue limit of a village or villages contiguous to the town or city.

Urban Agglomeration (UA): It is a continuous urban spread constituting a town and its adjoining urban outgrowths (OGs) or two or more physically contiguous towns together and any adjoining urban out-growth of such towns. Rural: All area other than urban are rural. The basic unit for rural area is the revenue village.

Sampling procedure

Outline of sample design: A stratified multi-stage sampling design will be adopted for ASUSE.

Rural sector: The first stage units (FSU) will be the census villages in the rural sector. For rural part of Kerala, Panchayat wards (PW) will be taken as FSUs.

Urban sector: The First Stage Units (FSU) will be the latest updated UFS (Urban Frame Survey) blocks.

The Ultimate Stage Units (USU) will be establishments for both the sectors. In the case of large FSUs, one intermediate stage of sampling will be the selection of three hamlet-groups (HGs)/sub-blocks (SBs) from each of the large FSUs.

Sampling frame to be used for selection of FSUs

Census 2011 list of villages will be used as the sampling frame for rural areas. Auxiliary information such as number of workers, etc. available from Sixth Economic Census (EC) frame will be used for stratification, sub-stratification and selection of FSUs, for rural areas (except Kerala). In rural areas of Kerala, list of Panchayat Wards (PW) as per Census 2011 will be used as sampling frame. For all urban areas, the latest updated list of UFS blocks will be the sampling frame.

Stratification of FSUs:

Rural sector: Each NSS State region will constitute a rural stratum.

Urban sector: In urban areas, strata will be formed within each NSS State region on the basis of population of towns as per Census 2011. The tentative stratum numbers and their composition (within each NSS State region) will be as follows:

stratum 1 : all towns with population less than 50,000 stratum 2 : all towns with population 50,000 or more but less than 3 lakhs stratum 3 : all towns with population 3 lakhs or more but less than 10 lakhs stratum 4, 5, 6, ... : each city with population 10 lakhs or more

Mode of data collection

Face-to-face [f2f]

The size of the India Smart TV & OTT Market was valued at USD 18.94 Million in 2023 and is projected to reach USD 61.05 Million by 2032, with an expected CAGR of 18.20% during the forecast period. Smart TVs and over-the-top (OTT) services represent a significant evolution in how consumers access and enjoy entertainment. A Smart TV is a television set equipped with internet connectivity and interactive features, allowing users to stream content directly from various online sources without the need for additional devices. These TVs typically come pre-loaded with applications for popular streaming services like Netflix, Amazon Prime Video, and Hulu, enabling viewers to watch their favorite shows and movies with ease. In addition to streaming, Smart TVs often support web browsing, gaming, and social media integration, creating a multifunctional entertainment hub in the living room. On the other hand, OTT refers to the delivery of video, audio, and other media content over the internet, bypassing traditional cable or satellite TV platforms. This model allows consumers to access a vast array of content on demand, often at a lower cost than traditional cable subscriptions. Popular OTT platforms, such as Netflix, Disney+, and HBO Max, offer original programming and a wide library of movies and TV shows, catering to diverse viewer preferences. The rise of OTT services has shifted consumer habits, leading to the decline of traditional TV viewing and prompting many to “cut the cord” in favor of more flexible viewing options. Recent developments include: May 2022: Kerala Government announced to launch of a state-owned over-the-top platform offering an array of movies, short films, and documentaries. The OTT platform's name is CSpace, an initiative of the Kerala State Film Development Corporation., February 2022: T-Series, one of India's leading film studios, is entering into the production of web series for video streaming devices. The company will focus on creating content for all mediums, which shall appeal to all audience sectors, with gripping shows across genres.. Key drivers for this market are: Large Volume of the Indian Households and Relative Less Levels of Penetration, Growing Spending Power and Growth in Smartphone Adoption to boost OTT Demand; Declining Unit Prices Coupled with Entry of Several Regional Players to Drive Bargaining Leverage of Buyers. Potential restraints include: Manufacturers Faced with Taxation Challenges and Relatively Higher Replacement Rate. Notable trends are: Increasing Adoption of Smart Devices Across IoT Ecosystem to Drive the Market Growth.

Abstract

Annual Survey of Industries (ASI) is the principal source of industrial statistics in India. It provides statistical information to assess and evaluate, objectively and realistically, the changes in the growth, composition and structure of organized manufacturing sector comprising activities related to manufacturing processes, repair services, gas and water supply and cold storage. The survey has so far been conducted annually under the statutory provisions of the Collection of Statistics (COS) Act, 1953 and the rules framed there-under in 1959 except in the State of Jammu & Kashmir where it is conducted under the J&K Collection of Statistics Act, 1961 and rules framed there under in 1964. From ASI 2010-11 onwards, the survey is being conducted annually under the statutory provisions of the Collection of Statistics (COS) Act, 2008 (as amended in 2017) and the rules framed there-under in 2011. ASI 2022-23, data collected from establishments relate to their respective accounting years that ended on any day between 1st April 2022 and 31st March 2023. Survey was conducted during November 2023 to June 2024.

Geographic coverage

The ASI extends its coverage to the entire country upto state level.

Analysis unit

The primary unit of enumeration in the survey is a factory in the case of manufacturing industries, a workshop in the case of repair services, an undertaking or a licensee in the case of electricity, gas and water supply undertakings and an establishment in the case of bidi and cigar industries. The owner of two or more establishments located in the same state, same sector (bidi, factory or electricity) and pertaining to the same industry group (3-digit industry code) falling under the census scheme is, however, permitted to furnish a single consolidated return, termed as 'Joint Return (JR)'. Such consolidated returns are a common feature in the case of bidi and cigar establishments & electricity undertakings.