Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

India ICT Market Size

India ICT market reached around USD 114.68 billion in 2023. It is projected to grow at a CAGR of 13.1% during 2024-2032 to reach nearly USD 347.25 billion by 2032.

India ICT Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 114.68
Market Size 2032 USD Billion 347.25
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 13.1%
CAGR 2024-2032 - Market by Type Telecommunication Services 15.1%
CAGR 2024-2032 - Market by End Use Retail and E-Commerce 15.9%
CAGR 2024-2032 - Market by Region South India 15.1%
2023 Market Share by Region West India 24.5%

India ICT Market Outlook

  • India’s digital economy is expected to attain a size of $1 trillion by 2027-28.
  • India boasts approximately 821 million internet users and is the second largest internet market in the world.
  • E-commerce platforms in India reached around GMV of US$ 60 billion in 2023, witnessing a y-o-y growth of 22%.

India ICT Market Growth

India’s digital economy is growing at 2.8 times the rate of its GDP growth. By 2026-27, it is expected to account for 20% of its overall GDP growth. Under the India AI mission launched in 2024, the government aims to establish AI compute capacity worth 10,000 GPUs by funding 50% of the total infrastructure development cost. This is expected to favour the growth of the electronics industry, thereby paving the way for innovation in the market.

In 2022, India witnessed a year-on-year surge of over 75% in the volume of digital payments, which reached 74 billion and recorded a value of USD 1,536 billion. This can be attributed to numerous factors, such as rising accessibility to high-speed internet, rising smartphone availability, and the consumer convenience provided by digital payment platforms like PhonePe and GooglePay. Increasing consumer dependence on digital apps for ticket booking, hotel reservations, and online shopping is expected to directly impact the BFSI sector, which is anticipated to increase the deployment of various ICT technologies.

The introduction of 5G networks is expected to facilitate real-time monitoring of industrial machines, thereby minimising the risk of machine failure and downtime. This is expected to enhance the productivity and efficiency of India’s manufacturing industry in the forecast period.

India ICT Market

India ICT Industry Segmentation

India ICT Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

  • Hardware
    • Network Switches 
    • Routers and WLAN 
    • Servers and Storage 
    • Others 
  • Software
  • IT and Infrastructure Services
  • Telecommunication Services
CAGR 2024-2032 - Market by Type
Telecommunication Services 15.1%
IT and Infrastructure Services 13.9%
Hardware XX%
Software XX%

Market Breakup by Industry Vertical

  • BFSI
  • IT and Telecom
  • Government
  • Retail and E-Commerce
  • Manufacturing
  • Energy and Utilities
  • Others
CAGR 2024-2032 - Market by End Use
Retail and E-Commerce 15.9%
IT and Telecom 13.9%
Manufacturing 12.1%
BFSI XX%
Government XX%
Energy and Utilities XX%

Market Breakup by Region

  • North India
  • East and Central India
  • West India
  • South India
CAGR 2024-2032 - Market by Region
South India 15.1%
West India 14.0%
North India XX%
East and Central India XX%

India ICT Market Share

Based on industry vertical, the market is divided into BFSI, IT and telecom, government, retail and e-commerce, manufacturing, and energy and utilities, among others. Over the forecast period, the IT and telecom sector is projected to grow at a CAGR of 13.9% during 2024-2032, aided by the rapid penetration of internet services and rising digitalisation of the economy.

2023 Market Share by Region
West India 24.5%
North India XX%
East and Central India XX%
South India XX%

Leading Companies in the India ICT Market

Major companies like the Tata Group are focusing on developing semiconductor manufacturing, assembling, and testing plants in key regions like Gujarat and Assam to foster innovations in the India market for ICT.

  • IBM Corp.
  • Microsoft Corp.
  • Google LLC
  • Accenture Plc
  • Tata Consultancy Services Ltd.
  • Tech Mahindra Ltd.
  • Infosys Ltd.
  • Wipro Ltd.
  • HCL Technologies Ltd.
  • Bharti Airtel Ltd.
  • Others

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Industry Vertical
  • Region
Breakup by Type
  • Hardware
  • Software
  • IT and Infrastructure Services
  • Telecommunication Services
Breakup by Industry Vertical
  • BFSI
  • IT and Telecom
  • Government
  • Retail and E-Commerce
  • Manufacturing
  • Energy and Utilities
  • Others
Breakup by Region
  • North India
  • East and Central India
  • West India
  • South India
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • IBM Corp.
  • Microsoft Corp.
  • Google LLC
  • Accenture Plc
  • Tata Consultancy Services Ltd.
  • Tech Mahindra Ltd.
  • Infosys Ltd.
  • Wipro Ltd.
  • HCL Technologies Ltd.
  • Bharti Airtel Ltd.
  • Others

India ICT Market Report Snapshots

India ICT Market Size

India ICT Market Growth

India ICT Market Share

India ICT Companies

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

Looking for specific insights?

Get in touch with us today for customized, data-driven solutions tailored to your unique requirements!

Key Questions Answered in the Report

The market was valued at nearly USD 114.68 billion in 2023.

The market is projected to grow at a CAGR of 13.1% between 2024 and 2032.

The market is assessed to witness healthy growth in the forecast period to reach around USD 347.25 billion in 2032.

The different types of ICT in the market include hardware, software, IT and infrastructure services, and telecommunication.

The different industry verticals in the market include BFSI, IT and telecom, government, retail and e-commerce, manufacturing, and energy and utilities, among others.

The different regions covered in the market report are North India, East and Central India, West India, and South India.

The key market players are IBM Corp., Microsoft Corp., Google LLC, Accenture Plc, Tata Consultancy Services Ltd., Tech Mahindra Ltd., Infosys Ltd., Wipro Ltd., HCL Technologies Ltd., and Bharti Airtel Ltd., among others.

Purchase Full Report

Datasheet

 

USD 2,199

USD 1,999

tax inclusive*

  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

One User

USD 3,299

USD 2,999

tax inclusive*

  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Five User License

Five Users

USD 4,399

USD 3,999

tax inclusive*

  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

Unlimited Users

USD 5,499

USD 4,999

tax inclusive*

  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

How To Order

Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.

Select License Type

Choose the right license for your needs and access rights.

Click on ‘Buy Now’

Add the report to your cart with one click and proceed to register.

Select Mode of Payment

Choose a payment option for a secure checkout. You will be redirected accordingly.

Strategic Solutions for Informed Decision-Making

Connect For More Information

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.

Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.

We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.

Back to top

We’re here to help answer any questions about our products and services.

Contact us

Locations


United States (Head Office)

30 North Gould Street, Sheridan, WY 82801

+1-415-325-5166

Australia

63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

India

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

Philippines

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.

+63 287899028, +63 967 048 3306

United Kingdom

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

Vietnam

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124