India IoT Market to Grow at Very High Rate, Predicts 6Wresearch in Its Report Available at MarketPublishers.com
05 Dec 2016 • by Natalie Aster
LONDON – India cannot boast a well-developed market for IoT since it is at the nascent stage despite its relatively swift growth over the recent years. This growth was favored by such factors as increasing Internet penetration in the country and a rise in the number of connected devices.
In the coming years, the Digital India Campaign and the Smart City Project are set to be some of major drivers of the Indian marketplace. For instance, the Project is expected to get loans of USD 1.5 billion from ADB and World Bank in total.
The local IoT market is projected to grow at a CAGT of more than 28% over the period 2016-2-22.
The industrial application is a source of the largest revenue in this marketplace. This can be attributed to the growing use of IoT in smart building, energy management, and more.
When it comes to software expenditure in the IoT sector, it is set to showcase a significant increase in the coming years thanks to advancements occurring in data analytics and services as well as cloud hosting and managed services.
In-demand research report “India Internet of Things Market (2016-2022): Market Forecast by Verticals, Applications and Competitive Landscape” drawn up by 6Wresearch offers a comprehensive discussion of the Indian IoT marketplace by covering its evolution, current state and future prospects. The study starts with a thorough overview of the world’s market for IoT.
Then it draws up a detailed picture of the Indian marketplace. The report focuses on the industry life cycle and comprises Porter’s five forces model. The research study explores drivers and restraints of the Indian market.
It proceeds with an in-depth insight into trends of this marketplace. The research report sheds light on applications and concentrates on opportunities this market has. The study explores ongoing and upcoming IoT projects in the country.
It profiles major companies in the local space like Gemalto, Google, Bosch, and more. Future prospects of the local marketplace through are described in the report, too.
More insightful research reports by 6Wresearch can be found at its page.