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India Internet of Things Market to Grow at a CAGR of 22% by 2022 - By Component (Hardware, Software Platform and Services) & Communication Technology (Short-Range, Cellular, Satellite) - Research and Markets

[April 14, 2017]

India Internet of Things Market to Grow at a CAGR of 22% by 2022 - By Component (Hardware, Software Platform and Services) & Communication Technology (Short-Range, Cellular, Satellite) - Research and Markets

Research and Markets has announced the addition of the "India Internet of Things Market 2012-2022" report to their offering.

The internet of things market in India is projected to exhibit a CAGR of over 22% during 2017-2022.

South region dominated the country's IoT market over the past few years, and the region is anticipated to continue its market dominance until 2022. Moreover, in terms of associated communication technology, short range communication technology garnered the highest share in India IoT market in 2016, and this trend is also expected to prevail during the forecast period.

Internet of Things (IoT) is an ecosystem, comprising various embedded devices connected within a network that communicate with each other without human intervention, by using sensors with standard and interoperable communication protocols. Adoption of IoT as a service is continuously increasing across various industries in India.

Moreover, with Government of India planning to develop various smart cities, internet of hings technology would be used in various applications, such as smart lighting, smart parking, smart metering and solid waste management. Furthermore, growing need for connectivity among devices, in order to automate business processes and for real-time monitoring & tracking is anticipated to further propel India internet of things market through 2022.

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