In 2020, the internet of things (IoT) market size in India was around 5.6 billion U.S. dollars. It was a huge increase in comparison with the 1.3 billion dollars in 2016. It was estimated that the market will reach around 10.2 billion U.S. dollars in 2024. One of the main driven factors during this period are pandemic-triggered changes in the company behavior and focus on automation.

The India Internet of Things (IoT) market refers to the ecosystem of connected devices, systems, and technologies that communicate and exchange data over the internet. IoT integrates sensors, software, and advanced analytics into physical devices to enable real-time monitoring, automation, and enhanced decision-making. The market spans various sectors, including agriculture, healthcare, manufacturing, smart homes, and transportation. The rapid adoption of IoT in India is driven by factors such as the expansion of internet connectivity, the proliferation of affordable smart devices, and government initiatives like "Digital India" and "Smart Cities Mission." The increased demand for automation in industries and the integration of AI and machine learning with IoT solutions have further fueled growth. Additionally, advancements in wireless technologies such as 5G are expected to unlock new possibilities for IoT applications, enhancing scalability, speed, and reliability. Key trends shaping the Indian IoT market include the rise of smart city projects that leverage IoT for urban infrastructure development, smart metering, traffic management, and waste management. IoT applications in agriculture, such as precision farming and automated irrigation systems, are gaining traction to address the challenges of resource optimization. Recent developments include: April 2023: To facilitate new industrial applications and aid in the expansion of the IoT ecosystem, Qualcomm unveiled state-of-the-art IoT technologies. For a variety of IoT use cases, including smart buildings, businesses, retail, and industrial automation, the most recent IoT solutions offer more performance, cutting-edge connectivity, and next-generation processing., November 2022: With the introduction of new Matter-enabled software development kits for Thread SimpleLink and Wi-Fi wireless microcontrollers (MCUs), Texas Instruments (TI) hopes to accelerate the Internet of Things (IoT) industry's adoption of the Matter protocol.. Key drivers for this market are: Rise of smart city projects . Potential restraints include: Lack of standardized protocols and interoperability issues among IoT devices. Notable trends are: Growing demand for decision-making based on data is driving the market growth.

The revenue in the internet of things market in India was forecast to continuously increase between 2024 and 2029 by in total 26.7 billion U.S. dollars (+115.28 percent). After the tenth consecutive increasing year, the indicator is estimated to reach 49.82 billion U.S. dollars and therefore a new peak in 2029. Notably, the revenue of the internet of things market was continuously increasing over the past years.Find further information concerning the revenue in the internet of things market in Bolivia and the revenue in the internet of things market in Colombia. The Statista Market Insights cover a broad range of additional markets.

The India Internet of Things (IoT) market was valued at USD 59.32 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 18.84% during the forecast period.

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Market Size
Forecast Market Size
CAGR
Fastest Growing Segment
Largest Market
Key Players

The Report Covers Global Industrial IoT Market Size & Trends and It is Segmented by Type (Hardware, Software, Services, and Connectivity), End-User Vertical (Manufacturing, Transportation, Oil, and Gas), and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD Million) for all the Above Segments.

In 2019, there were approximately 250 million internet of things (IoT) connected devices in India. This number was expected to reach over two billion by 2021. Five key segments are contributing to the overall IoT market demand in India: large enterprises, global capability centers (GCCs), small medium businesses (SMBs), consumers, and the government.

The utilities industry in India was estimated to generate 25 percent of the revenue within the internet of things (IoT) in 2020. Manufacturing followed, with an estimated contribution of around 18 percent. By 2020, global IoT revenue was expected to grow exponentially.

Research and development in IoT

There was a steady rise in the number of IoT patents filed in India. Of the ones filed since 2009, more than half were in the last five years alone. Real-time decision making and big data analytics were some of the reasons for the implementation of IoT. Also, IoT companies witnessed a push from incoming funding. Various projects and policies, along with a conducive environment provided by the government to boost growth in this sector.

Major IoT players in India

The IoT ecosystem in India was not limited to a certain sector. There are numerous players across all verticals and segments. This was evident, by analyzing the patent distribution. This not only included multi-national companies (MNCs), but also established Indian players and some start-ups. These start-ups were focused on consumer driven segments. Among international players, Haier, Accenture, MI, and Samsung were prominent, while TCS, Havells and Wipro made up the domestic share in the market.

The global telecom Internet of Things (IoT) market in 2023 was anticipated to be valued at US$ 55.154 billion. With an increasing demand for improved connectivity solutions to connect smart devices, the telecom Internet of Things (IoT) market is estimated to reach US$ 410.656 billion by 2033, with a CAGR of 22.2% from 2023 to 2033.

Attribute	Details
Market HCAGR (From 2018 to 2022)	20.1%
Market Size - 2018	US$ 21.945 billion
Market Size - 2022	US$ 45.733 billion

Attribute	Details
Market CAGR (From 2023 to 2033)	22.2%
Market Size - 2023	US$ 55.154 billion
Market Size - 2033	US$ 410.656 billion

Country-wise Insights

Attribute	Details
North America Market Share - 2023	27.1%
United States Market Share - 2023	19.40%
Australia Market Share - 2023	3.20%

Attribute	Details
Japan Market Share -2023	5.4%
China Market CAGR (From 2023 to 2033)	20.4%
India Market CAGR (From 2023 to 2033)	25.6%

Attribute	Details
Europe Market Share - 2023	24.30%
Germany Market Share - 2023	9.4%
United Kingdom Market CAGR (From 2023 to 2033)	18.7%

Over the last two observations, the revenue is forecast to significantly increase in all segments. As part of the positive trend, the indicator achieves the maximum value across all seven different segments by the end of the comparison period. Notably, the segment Industrial IoT stands out with the highest value of 15.3 billion U.S. dollars. Find further statistics on other topics such as a comparison of the revenue in Iran and a comparison of the revenue in Germany. The Statista Market Insights cover a broad range of additional markets.

The Report Covers Global IoT Managed Services Providers & Market Share and it is Segmented by Application (network management, device management, data management, security management, and other applications), End-user (energy and utilities, manufacturing, retail, healthcare, BFSI, IT & Telecom, and other end-users), and Geography (North America (United States, Canada, and rest of North America), Europe (Germany, UK, France, Spain, and rest of Europe), Asia-Pacific (India, China, Japan, and rest of Asia-Pacific), and Latin America (Brazil, Argentina, and rest of Latin America), and Middle East & Africa (UAE, Saudi Arabia, South Africa, and rest of MEA). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

The Internet of Things (IoT) market is experiencing robust growth, projected to reach $1161.28 million in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 18.52% from 2025 to 2033. This expansion is driven by several key factors. Firstly, the increasing adoption of IoT devices across diverse sectors like industrial automation, retail (smart shelves, inventory management), healthcare (remote patient monitoring, connected medical devices), and information and communications technology (ICT) infrastructure is fueling demand. The technological advancements in RFID, sensors, NFC technology, and cloud computing services are further enhancing the capabilities and applications of IoT, broadening its market appeal. Geographically, North America, particularly the United States, currently holds a significant market share due to early adoption and advanced technological infrastructure. However, rapid growth is anticipated in the Asia-Pacific region, especially in China and India, driven by expanding digital infrastructure and increasing government initiatives promoting IoT adoption. While challenges exist, such as data security concerns and interoperability issues, the overall market trajectory remains positive, indicating substantial growth opportunities for companies involved in hardware, software, and service provision within the IoT ecosystem. The competitive landscape is characterized by a mix of established technology giants like Alphabet Inc., Cisco Systems Inc., and Microsoft Corp., alongside specialized IoT solution providers. These companies are employing various strategies, including strategic partnerships, acquisitions, and research and development investments, to strengthen their market position. The market’s future hinges on continued technological innovation, particularly in areas like artificial intelligence (AI) integration for advanced analytics and improved data security solutions. The evolving regulatory landscape concerning data privacy and cybersecurity will play a significant role in shaping the market's growth trajectory in the coming years. The continuous development of low-power wide-area networks (LPWANs) and other communication technologies is also expected to further accelerate IoT adoption across a broader range of applications and environments. A strong focus on addressing scalability challenges and ensuring reliable connectivity across diverse networks will be crucial for continued market expansion.

The global industrial IoT market size is anticipated to attain immense growth from 2023 to 2033. According to the research report published by FMI, the global market is predicted to surpass a valuation of US$ 442,934.4 million in 2023. It is expected to reach a valuation of US$ 1,392,133.7 million by 2033. The market is foreseen to capture a staggering CAGR of 12.1% from 2023 to 2033.

Attribute	Details
Industrial IoT Market Share (2022)	US$ 400,845.6 million
Industrial IoT Market Share (2023)	US$ 442,934.4 million
Industrial IoT Market Share (2033)	US$ 1,392,133.7 million
Industrial IoT Market Share (2023 to 2033)	12.1%

Country-wise Insights

Country	CAGR Share in Global Market (2022)
United States	16.3%
United Kingdom	13.2%
China	12.8%
Japan	7.3%
India	14.3%

Scope of the Report

Attribute	Details
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	US$ million for Value
Key Regions Covered	North America Latin America Europe East Asia South Asia Oceania The Middle East & Africa (MEA)
Key Countries Covered	United States Canada Germany United Kingdom Nordic Russia BENELUX Poland France Spain Italy Czech Republic Hungary Rest of EMEAI Brazil Peru Argentina Mexico South Africa Northern Africa GCC Countries China Japan South Korea India ASEAN Thailand Malaysia Indonesia Australia New Zealand Others
Key Segments Covered	Components End Use Region
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

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IoT Analytics Market Size and Trends

The IoT analytics market size is forecast to increase by USD 153.66 billion, at a CAGR of 46.4% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand for data-driven insights in various industries. One of the key drivers is the need to enhance business efficiency, particularly in sectors such as healthcare with the use of heart rate tracking and other vital sign monitoring. However, challenges persist, including the sluggish connectivity for Internet of Things devices, which can hinder the seamless flow of data within the IoT ecosystem. The connected car market is also expected to contribute significantly to the growth of IoT analytics, as real-time data analysis becomes increasingly important for optimizing vehicle performance and enhancing the user experience. On-premise IoT analytics solutions continue to be popular due to concerns around data security and privacy. Overall, the market is poised for continued expansion as businesses seek to unlock the value of the vast amounts of data generated by IoT devices.

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The market has revolutionized various industries by enabling the generation and collection of vast amounts of data. This data, in turn, is fueling the automation and optimization of business processes across sectors such as manufacturing, healthcare, agriculture, supply chain management, energy-intensive industries, and smart homes. IoT technology is transforming industries by providing real-time data from various sources, including autonomous vehicles, global positioning systems, and wearable devices. This data is essential for process optimization and improving operational efficiency. For instance, in manufacturing, real-time data from machines can help identify potential issues before they escalate, reducing downtime and increasing productivity. In healthcare, IoT analytics is enabling a patient-centric model by providing personalized recommendations based on real-time data from wearable devices, such as heart rate tracking. This data can help healthcare professionals monitor patients' health status and provide timely interventions, leading to better patient outcomes. Similarly, in agriculture, IoT analytics is helping farmers optimize irrigation, monitor crop health, and manage livestock, leading to increased productivity and reduced costs.

In energy-intensive industries, real-time data from sensors can help identify energy wastage and optimize energy usage, leading to cost savings and reduced carbon footprint. IoT analytics is also transforming supply chain management by providing real-time visibility into inventory levels, shipping status, and delivery schedules. This data can help businesses optimize their supply chain operations, reduce lead times, and improve customer satisfaction. Furthermore, IoT analytics is enabling the development of smart homes, where data from various sensors can be used to optimize energy usage, improve safety, and provide personalized recommendations to residents. In conclusion, IoT analytics is transforming various industries by providing real-time data from various sources, enabling process optimization, and improving operational efficiency. The use of descriptive analytics in IoT data can help businesses gain insights into their operations, identify trends, and make data-driven decisions. By leveraging IoT analytics, businesses can gain a competitive edge and improve their bottom line.

Market Segmentation

The market 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.

Component

  Software
  Services


End-user

  Manufacturing
  Retail
  Healthcare
  Telecommunication and IT
  Others


Geography

  North America

    Canada
    US


  APAC

    China
    India
    Japan


  Europe

    Germany
    UK
    France
    Spain


  Middle East and Africa



  South America

By Component Insights

The software segment is estimated to witness significant growth during the forecast period. In the market, software solutions held the largest share in 2023, according to the global market size. This dominance is driven by the expanding reach of IT and retail companies, leading to an increased need for managing vast amounts of data. SMEs in emerging economies, such as China, India, Brazil, Indonesia, and Mexico, are fueling the demand for IoT analytics software. These businesses require insights to drive growth and remain competitive.

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The software segment was valued at USD 6.94 billion in 2018. Companies cater to various industries, offering software solutions for real-time data collection and analysis. Ensuring data security is crucial

The Internet of Things (IoT) Networks market is experiencing robust growth, projected to reach a market size of $35,240 million by 2025, exhibiting a Compound Annual Growth Rate (CAGR) of 11.1% from 2019 to 2033. This expansion is driven by several key factors. The increasing adoption of smart devices across various sectors, including building and home automation, smart energy and utilities, smart manufacturing, connected logistics, smart retail, and smart mobility and transportation, fuels significant demand for robust and scalable IoT network infrastructure. Furthermore, advancements in technologies such as 5G, edge computing, and artificial intelligence (AI) are enabling more efficient and sophisticated IoT deployments, further accelerating market growth. The proliferation of data analytics tools is also contributing, allowing businesses to derive actionable insights from the vast amounts of data generated by connected devices, optimizing operations and improving decision-making. Competitive pressures among major technology players like Intel, SAP, Cisco, Microsoft, and others are driving innovation and fostering the development of increasingly user-friendly and cost-effective solutions. Significant regional variations exist within the IoT Networks market. North America, with its advanced technological infrastructure and high adoption rates in various industries, currently holds a dominant market share. However, the Asia-Pacific region, particularly China and India, is expected to witness substantial growth in the coming years due to rapid industrialization, rising digitalization initiatives, and government support for IoT deployments. While the market faces challenges such as security concerns related to data breaches and interoperability issues among different IoT devices and platforms, ongoing efforts to address these hurdles through the development of robust security protocols and standardized communication frameworks will mitigate these risks and continue to drive market expansion. The long-term forecast suggests continued strong growth for the IoT Networks market, driven by ongoing technological advancements and increasing demand across diverse sectors.

The revenue in the internet of things market in France was forecast to continuously increase between 2024 and 2029 by in total eight billion U.S. dollars (+42.83 percent). After the tenth consecutive increasing year, the indicator is estimated to reach 26.71 billion U.S. dollars and therefore a new peak in 2029. Notably, the revenue of the internet of things market was continuously increasing over the past years.Find further information concerning the revenue in the internet of things market in the United Kingdom and the revenue in the internet of things market in India. The Statista Market Insights cover a broad range of additional markets.

Global IoT sensors market is Projected to reach a valuation of USD 135.90 billion, likely to surge at moderate CAGR 31.3% by forecast year 2032 | Analysis by PMR

The global Industrial Internet of things (IIoT) market size reached USD 289.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 847.0 Billion by 2033, exhibiting a growth rate (CAGR) of 12.7% during 2025-2033. The market is driven by the growing number of smart cities, as they leverage IIoT to enhance efficiency, sustainability, and quality of life through interconnected systems and real-time data analytics, rising use of edge computing, and increasing reliance on 5G technology.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 289.0 Billion
Market Forecast in 2033	USD 847.0 Billion
Market Growth Rate 2025-2033	12.7%

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global and regional levels for 2025-2033. Our industrial IoT market report has categorized the market based on component and end user.

The smart manufacturing market is experiencing robust growth, projected to reach $24.83 billion in 2025 and exhibiting a Compound Annual Growth Rate (CAGR) of 16.83% from 2025 to 2033. This expansion is driven by the increasing adoption of Industry 4.0 technologies, such as the Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML), across various industrial sectors. These technologies enable enhanced automation, improved efficiency, optimized production processes, and real-time data-driven decision-making, leading to significant cost reductions and increased productivity. The process industry, a major segment, benefits significantly from predictive maintenance capabilities offered by smart manufacturing solutions, reducing downtime and improving operational reliability. Furthermore, the rising demand for advanced human-machine interfaces (HMIs) and manufacturing execution systems (MES) is fueling market growth. North America and Europe currently hold substantial market shares, driven by early adoption of advanced technologies and established manufacturing bases. However, the Asia-Pacific region, particularly China and India, is witnessing rapid growth, fueled by industrialization and government initiatives promoting digital transformation. Several factors restrain market expansion, including high initial investment costs associated with implementing smart manufacturing solutions, cybersecurity concerns related to interconnected systems, and the need for skilled workforce training to effectively manage and maintain these complex technologies. However, the long-term benefits of improved efficiency, reduced operational costs, and enhanced product quality outweigh these challenges. The market is highly competitive, with major players like ABB, Siemens, Rockwell Automation, and others vying for market share through strategic partnerships, acquisitions, and continuous innovation. Future growth will be significantly influenced by the ongoing advancements in AI, cloud computing, and edge computing technologies, allowing for even greater levels of automation, data analysis, and predictive capabilities within the manufacturing sector. The continued integration of these technologies across various industry segments will be pivotal in driving the sustained growth of the smart manufacturing market over the coming decade.

Snapshot img

Internet Of Things Enabled Industrial Wearables Market Size 2025-2029

The Internet of Things (IoT) enabled industrial wearables market size is forecast to increase by USD 42.82 billion at a CAGR of 69% between 2024 and 2029.

The market is experiencing significant growth due to the rise in digitalization and automation within industries. This trend is driving the demand for wearable devices that can collect and transmit real-time data to enhance operational efficiency and productivity. Another key factor fueling market growth is the rising focus on increasing battery life to ensure uninterrupted usage. However, the high cost of wearable devices and technology remains a challenge for market growth. Companies are investing in research and development to create cost-effective solutions while maintaining the necessary features and functionality. In the manufacturing sector, IoT wearables facilitate Industry 4.0 initiatives, enabling predictive maintenance solutions and real-time data analytics. The IoT wearables market is expected to continue its growth trajectory as industries seek to optimize their operations and improve worker safety and productivity.

What will be the Size of the Internet Of Things (IoT) Enabled Industrial Wearables Market During the Forecast Period?

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The market encompasses a range of smart devices, including head-mounted wearables, hand-worn wearables, and portable wearables. These devices, which include smart eyewear and cases with integrated connectivity components, touchpads, sensors, cameras, and more, are revolutionizing industries such as manufacturing, energy, healthcare, construction, and logistics.
In healthcare, wearables are used for remote patient monitoring and telemedicine. The energy industry benefits from wearables that monitor equipment performance and optimize energy usage. The market for IoT industrial wearables is experiencing significant growth due to the increasing demand for enhanced productivity, improved safety, and cost savings. The integration of advanced technology, such as sensors, connectivity, and data analytics, is driving innovation and expanding the scope of applications for these devices.

How is this Internet Of Things (IoT) Enabled Industrial Wearables Industry segmented and which is the largest segment?

The Internet of Things (IoT) enabled industrial wearables industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Hand-worn wearables
  Head-mounted wearables
  Smart eyewear


End-user

  Automotive
  Manufacturing
  Aerospace
  Others


Connectivity

  Bluetooth
  Wi-Fi
  Cellular networks
  NFC


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK
    France
    Italy


  APAC

    China
    India
    Japan


  South America



  Middle East and Africa

By Product Insights

The hand-worn wearables segment is estimated to witness significant growth during the forecast period.

Hand-worn wearables, including smart gloves and wrist-worn devices, represent a niche segment of the IoT-enabled industrial wearables market. These devices are predominantly utilized in logistics for administrative tasks and in industries for labor-intensive processes. The proliferation of Industry 4.0 and advancements in sensors and scanning technologies are fueling their adoption. Industry 4.0, also known as the fourth industrial revolution, is revolutionizing traditional manufacturing industries by integrating IoT and automation. Hand-worn devices are integral to this transformation, enabling performance optimization, data analytics, and predictive maintenance solutions. Key components include connectivity components, touchpads and sensors, cameras, Bluetooth 5, and battery life or power harvesting technologies.

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The hand-worn wearables segment was valued at USD 752.70 million in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 43% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The North American region dominates the IoT enabled industrial wearables market, driven by the presence of major tech companies like Alphabet, Microsoft, and Vuzix, based In the US and Canada. These firms bring substantial financial resources and technological expertise to the table, significantly contributing to market growth. End-user industries, such as GE Electric and Ford Motor

The Global Internet of Things in Banking Market is segmented by Type (Solution and Services), Application (Security, Monitoring, Data Management, Customer Experience Management), and Geography. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.