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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 Report Snapshots
*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.*
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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.
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