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India Industrial Iot Market (iiot)
India Industrial IoT Market (IIoT) was valued US$ 6.1 Bn in 2017 and expected to reach US$ 29.23 Bn in 2026, at CAGR of 21.86% during forecast period.
India Industrial IoT Market (IIoT)
Figure: Key Players Operated in India Industrial IoT Market
Use of data intelligence, applied through IIoT, provides businesses with real-time actionable insights and improves their ability to stay competitive and relevant. Increasingly, technology startups in India have begun to innovate hyperlocal solutions to long-standing challenges in the country’s industry, agriculture, and logistics sectors – and offer these products to the global market.
Rising demand for automation in India’s manufacturing sector is creating new space for the application of industrial internet of things (IIoT). Investments into or the acquisition of Indian tech startups in recent months is further feeding sector-wide interest, and has become a big part of the brownfield landscape.
The government’s Make in India, Digital India, and Smart Cities programs will further encourage this growth and expand demand of IIoT market.
India will have a share of 5-6 per cent of the global IoT industry."Given the transformative potential and the significant economic impact IoT can drive for a country like India, IAMAI, together with the industry, has launched a concerted effort towards catalysing the IoT ecosystem in the country.
Leveraging decades of digital automation expertise, Emerson (NYSE: EMR) today launches its Operational Certainty program in India to help industrial companies achieve top performance in safety, reliability, production and energy management.
This initiative is supported by Emerson’s Plantweb digital ecosystem designed to deliver Industrial Internet of Things (IoT) applications that offer measureable business performance improvement.
The factories of India and their machines are getting smarter. At Mahindra & Mahindra's Nashik plant, there are robots building car body frames and a similar scene plays out in Pune at the Tata Motors plant.
Plants operated by Godrej and Welspun use the Intelligent Plant Framework provided by Covacis Technologies to run their factory floors. The IPF connects every machine node in a factory and understands the rate of work and efficiency. The aim of the framework is to let the corporate cut down on wastage and organise production flows.
Despite the rapid pace of IoT growth, there are roadblocks like lack of interoperability among devices, consumer perception and security, and a lack of compelling business cases.
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