Adoption of IoT as a service is continuously increasing across various industries in the country, according to Research and Markets.
India's IoT market is projected to exhibit a CAGR of over 22% by 2022, according to market research firm Research and Markets.
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.
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, IoT 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 and tracking is anticipated to further propel India IoT market through 2022.