India IoT in Manufacturing Market, by Component, By Application Area, By Vertical, By Region, Competition, Forecast and Opportunities, 2028

India IoT In Manufacturing Market is anticipated to grow at a robust pace during the forecast period, 2024-2028. A system of interconnected computing devices, mechanical and digital machines, objects, or people that are given unique identifiers (UIDs) and the capacity to transfer data over a network without needing human-to-human or human-to-computer interaction is known as the Internet of Things. It is essentially an ecosystem, which is a connected network of embedded devices consisting of devices/things, connectivity, and services that communicate without human intervention by using standard and interoperable communication protocols. 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 in 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 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.

Higher Adoption for Industrial Automation in Manufacturing

Industrial automation has seen a significant rise in demand in the manufacturing industry in recent years. There are several reasons for this trend, including, increased efficiency and productivity as automated systems can work faster and more accurately than humans, which leads to higher productivity and efficiency. Automated systems can reduce the need for manual labor, resulting in lower labor costs for manufacturers. Automated systems can help to improve product quality by ensuring that products are produced consistently and in correct specifications. Automated systems can help to reduce the risk of workplace accidents and improve overall safety in the workplace. Automated systems can be programmed to adapt to changes in production processes, making it easier for manufacturers to switch production between different products.

Overall, the increasing demand for industrial automation in manufacturing is driven by many benefits, including increased efficiency, lower labor costs, improved product quality, increased safety, and increased flexibility.

Investments in Industry 4.0

India is one of the fastest-growing economies, and the country has been making significant investments in Industry 4.0 in recent years. This trend is driven by several factors, such as government support, the Government of India has been actively promoting Industry 4.0 and has implemented policies to encourage investment in this area.

India's manufacturing industry has been growing rapidly in recent years, and many manufacturers are looking to adopt Industry 4.0 technologies to improve their competitiveness. Moreover, India has a large young and highly skilled working population and there is growing demand for high-tech products in India, which is driving investment in Industry 4.0 technologies. Overall, the growing investments in Industry 4.0 in India reflect the country's growing manufacturing industry, favorable business environment, and the availability of skilled labor. This trend is expected to continue in the coming years, as more companies look to adopt Industry 4.0 technologies to improve their competitiveness and meet the growing demand for high-tech products.

Market Segmentation:

India IoT In Manufacturing Market is segmented based on component, application area, and vertical. Based on component, the market is segmented into solutions, services, and platforms. Based on application area, the market is bifurcated into predictive maintenance, business process optimization, asset tracking & management, logistics & supply chain management, real-time workforce tracking & management, automation control & management, emergency & incident management, and business communication. Based on vertical, the market is segmented into energy & utilities, automotive, food & beverages, aerospace & defense, chemicals & materials, high-tech products, healthcare, and others

Market Players

Major market players in the India IoT in Manufacturing market 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, General Electric India, Zebra Technologies India Private Limited

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:

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

• India IoT In Manufacturing Market, By Vertical:

Energy & Utilities

Automotive

Food & Beverages

Aerospace & Defense

Chemicals & Materials

High-Tech Products

Healthcare

Others

• India IoT In Manufacturing Market, By Region:

North India

South India

East India

West 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).