The India IoT security market size reached around USD 591.53 Million in 2023. The market is projected to grow at a CAGR of 24.00% between 2024 and 2032 to reach nearly USD 4099.89 Million by 2032.
Base Year
Historical Year
Forecast Year
In 2015, the Indian government introduced the Smart City Mission to promote economic growth and improve the quality of life for people. Nearly 25 cities have completed over 50% of the projects planned under the mission, with Kakinada (720%), Devanagere (433.30%), Belagavi (414.90%), New Town (410%), and Lucknow (366.70%) leading the performance estimates. A key component of this plan is establishing Integrated Command and Control Centres for managing and monitoring various services, systems, and public infrastructure facilities in a single platform. This is expected to increase the India IoT security market value over the forecast period.
The Indian agricultural sector accounts for over 20% of its GDP growth. A fully developed ecosystem of agtech solutions can increase the incomes of Indian farmers by nearly 25%-35% and contribute a value of USD 95 billion to the domestic economy. Agtech can substantially boost crop productivity while reducing input costs. It can also enhance price realisation for crops. During 2013-2020, the number of agtech startups surged from 50 to 1,000, driven by rising internet penetration and increasing farmer awareness regarding agtech solutions. The increasing adoption of agtech in India’s farming sector is expected to accelerate the demand for IoT security services in the country, thereby driving the India IoT security market development.
Value in USD Million
2024-2032
India IoT Security Market Outlook
*this image is indicative*
Increasing adoption of IoT devices; rising threat of cyberattacks; growth of telemedicine; and rapid economic digitalisation are factors favouring the India IoT security market growth.
Rising internet accessibility and smartphone penetration rates have accelerated the adoption of IoT devices. This is expected to increase the demand for reliable IoT security solutions over the forecast period.
India has witnessed a surge in state-sponsored cyberattacks in recent years, with nearly 80% of them coming from China. This is expected to heavily impact the India IoT security market dynamics.
The growth of the healthcare sector has led to an expansion of the demand for telemedicine, especially in remote areas. With the introduction of new government initiatives aimed at boosting healthcare accessibility in rural areas, the demand for robust security solutions are expected to become crucial, thereby facilitating India IoT security market development.
The digitalisation of various public services provided by the government is expected to increase the demand for secure IoT solutions, resulting in a growth of market value.
In 2023, nearly 83% of all Indian organisations experienced a cyberattack while only 24% of all Indian organisations have the necessary capabilities and resources for tackling cyberattacks. As per the India IoT security market analysis, over 30% of all companies are still in their first stage of planning and implanting cybersecurity measures. This is expected to increase the demand for IoT security solutions over the forecast period.
The EMR’s report titled “India IoT Security Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Breakup by Component
Breakup by Deployment Mode
Breakup by Organization Size
Breakup by Security
Breakup by Industry Vertical
Based on region, the market is segmented into North India, East and Central India, West India, and South India. North India is projected to dominate the market, representing 30% of the overall market share. Over the forecast period, West India is expected to witness the fastest growth rate in the demand for IoT security solutions, growing at a CAGR of 27.1% due to the increasing government investments towards expanding healthcare accessibility, and rapid economic digitalisation. The shift towards boosting the reach of digital payments in remote areas is also expected to lead to market expansion.
Major players are providing cloud based IoT security solutions to large organisations and SMEs for capturing a stronger India IoT security market share.
Cisco Systems Inc. is an American software development company which is based in California, United States. It was established in 1984 and specialises in manufacturing and selling high-tech services and products, such as networking hardware solutions.
Infineon Technologies AG was established in April 1999 and is based in Germany. As per the India IoT security ...
IBM Corporation is a multinational company which was founded in June 1911 and is based in New York, United Sta...
Sophos Ltd. is a UK-based software development company which was established in 1985. It is headquartered in A...
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other players included in the India IoT security market report are Broadcom Inc., Intel Corp., HP Inc., Trend Micro Inc., AT&T Inc., Palo Alto Networks Inc., and Thales S.A. (Gemalto), among others.
*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.*
Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!
In 2023, the market reached an approximate value of USD 591.53 Million.
The market is projected to grow at a CAGR of 24.00% between 2024 and 2032.
The different components of IoT security in the market are solutions and services.
The different segments considered in the market report are on-premises and cloud.
The different sizes of organisations using IoT security in India are large enterprises, and small and medium enterprises.
The different countries covered in the market report are North India, East and Central India, West India, and South India.
Key players in the market are IBM Corporation, Cisco Systems Inc., Broadcom Inc., Intel Corp., HP Inc., Trend Micro Inc., AT&T Inc., Infineon Technologies AG, Palo Alto Networks Inc., Thales S.A. (Gemalto), and Sophos Ltd., among others.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 4099.89 Million by 2032.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| 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
|
| Breakup by Offering |
|
| Breakup by Deployment Mode |
|
| Breakup by Organisation Size |
|
| Breakup by Security |
|
| Breakup by Industry Vertical |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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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
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