The Internet of Things ( IoT ) market in India is expected to grow to $ 15 billion by 2020 , according to a report by Nasscom . Industrial IoT accounts for 60 % of this growth , with consumer IoT responsible for the remaining 40 % . Major Indian IT companies are betting on new digital technologies such as IoT, analytics and artificial intelligence to diversify their revenue stream and fill in gaps for the slower growth in traditional IT business. However , consumer IoT is expected to increase to 45 % by 2020 , mainly due to the growing number of tech - savvy consumers . Many of these are " early adopters " of smartphones and wearable devices , and this combined with the rising use of mobile internet is driving growth in this area .
The Internet of Things ( IoT ) market in India is expected to grow to $ 15 billion by 2020 , according to a report by Nasscom . Industrial IoT accounts for 60 % of this growth , with consumer IoT responsible for the remaining 40 % . However , consumer IoT is expected to increase to 45 % by 2020 , mainly due to the growing number of tech - savvy consumers . Many of these are " early adopters " of smartphones and wearable devices , and this combined with the rising use of mobile internet is driving growth in this area .