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.
Estimated revenue share of internet of things across India in 2020, by industry
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FICCI, & EY. (June 12, 2019). Estimated revenue share of internet of things across India in 2020, by industry [Graph]. In Statista. Retrieved May 21, 2022, from https://www.statista.com/statistics/1017832/india-iot-estimated-revenue-share-by-industry/
FICCI, und EY. "Estimated revenue share of internet of things across India in 2020, by industry." Chart. June 12, 2019. Statista. Accessed May 21, 2022. https://www.statista.com/statistics/1017832/india-iot-estimated-revenue-share-by-industry/
FICCI, EY. (2019). Estimated revenue share of internet of things across India in 2020, by industry. Statista. Statista Inc.. Accessed: May 21, 2022. https://www.statista.com/statistics/1017832/india-iot-estimated-revenue-share-by-industry/
FICCI, and EY. "Estimated Revenue Share of Internet of Things across India in 2020, by Industry." Statista, Statista Inc., 12 Jun 2019, https://www.statista.com/statistics/1017832/india-iot-estimated-revenue-share-by-industry/
FICCI & EY, Estimated revenue share of internet of things across India in 2020, by industry Statista, https://www.statista.com/statistics/1017832/india-iot-estimated-revenue-share-by-industry/ (last visited May 21, 2022)