India IoT in Manufacturing Market By Component (Solutions, Services and Platforms), 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), By Vertical (Energy & Utilities, Automotive, Food & Beverages, Aerospace & Defence, Chemicals & Materials, High-Tech Products, Healthcare, Others), By Region, Competition, Forecast & Opportunities, FY2017-FY2027F

India IoT in manufacturing market stood at USD4911.59 million in FY2020 and is forecast to grow at a CAGR of over 13.81% until FY2027. Growth in the market is driven by its extensive usage in smart industries. Smart industry can fully-integrate and collaborate manufacturing systems that respond in real time to meet changing demands and conditions in the smart factory, in supply network, and as per customer needs. Analytics, along with IoT, is being used to optimize inventory on hand and automatically signal for replenishment which will boost the India IoT in manufacturing market. The growing adoption of cloud computing services owing to their cost effectiveness, high performance, and accessibility will also enhance the India IoT in manufacturing market. Moreover, supportive government initiatives such as “Digital India” & “Make in India” are anticipated to act as a catalyst in the growth of the India IoT in manufacturing market.

Based on component, the market can be segmented into Solutions, Services and Platforms. The solution component dominated the market in 2020 as these solutions empower enterprises to focus on business outcomes instead of handling maintenance and support challenges. Moreover, these solutions provide higher availability, utilization, and improved performance of critical assets and help in reducing costs.

Based on application area, the market can be divided into 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. Asset tracking & management segment dominated the market in 2020 as to provide helpful measures proactively for machine and equipment. Asset tracking & management solutions enable organizations to track assets and receive notifications when the maintenance of assets is due. It helps enterprises perform regular maintenance, thereby increasing the productivity of the asset.

Based on region, the market is segmented into North, South, East & West. The south region dominated the market in 2020 as major players in India IoT in manufacturing market are operating their facilities in the Southern region. Some of the major players are IBM India Pvt. Ltd., Cisco Systems (India) Pvt. Ltd., Huawei Telecommunications India Pvt. Ltd., Microsoft Corporation (India) Pvt. Ltd., Schneider Electric India Pvt. Ltd., Siemens Limited, Bosch Ltd., SAP India Private Limited, GE Digital, Zebra Technologies India Private Limited etc. Major companies are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new products developments.

Years considered for this report:

Historical Years: FY2017-FY2020

Base Year: FY2021

Estimated Year: FY2022

Forecast Period: FY2023-FY2027

Objective of the Study:

• To analyze the historical growth in the market size of India IoT in Manufacturing Market from FY2017 to FY2020.
• To estimate and forecast the market size of the India IoT in Manufacturing Market from FY2021 to FY2027 and growth rate until FY2027.
• To classify and forecast India IoT in Manufacturing Market based on component, application area, vertical and region.
• To identify the dominant region or segment in the India IoT in Manufacturing Market.
• To identify drivers and challenges for India IoT in Manufacturing Market.
• To identify and analyze the profile of leading players operating in the India IoT in Manufacturing Market.
• To identify key sustainable strategies adopted by market players in the India IoT in Manufacturing Market.

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of major players across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers, vendors and presence of all major players across the country.

TechSci Research calculated the market size of India IoT in Manufacturing Market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

• IoT device service provider, vendor and other stakeholders
• Maintenance and repair companies

·         Organizations, forums and alliances related to IoT in manufacturing

·         Government bodies such as regulating authorities and policy makers

·         Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, the India IoT in Manufacturing Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below: 

• India IoT in Manufacturing Market, By Component:
• Solutions
• Services
• Platforms
• India IoT in Manufacturing Market, By Application Area:
• Asset Tracking & Management
• Predictive Maintenance
• Logistics & Supply Chain Management
• Business Process Optimization
• Real-Time Workforce Tracking & Management
• Automation Control & Management
• Emergency & Incident Management
• Business Communication
• India IoT in Manufacturing Market, By Vertical:
• Energy & Utilities
• Automotive
• Aerospace & Defence
• High-Tech Products
• Healthcare
• Food & Beverages
• Chemicals & Materials
• Others
• India IoT in Manufacturing Market, By Region:
• South India
• West India
• North India
• East India

Competitive Landscape:

Company Profiles: Detailed analysis of the major companies present in the India IoT in Manufacturing Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five)