Internet of Things is on a dramatic growth path in India, and this is evident from the number of IoT companies/ startups that have come up in last 3-4 years. And the numbers are astonishing.
According to our research, there are close to 800 firms working on IoT as a technology in some shape & form. Here’s our annual study of IoT companies in India.
- More than 800 companies in India claim to provide IoT as an offering to their customers. This includes a large number of companies into IoT products (mostly wearable & Home automation) and a small chunk offering enterprise IoT services.
- This is an increase of more than 50% from last year when India housed around 500 IoT companies.
- The number of IoT companies in India is still very few in number, compared to the strength of IoT companies around the globe. In fact, India accounts for just 7% of global IoT companies.
- On an average, Indian IoT companies have 49 employees on their payroll.
- On a global scale, this is quite a good number, as IoT companies across the world employ an average of 37 employees.
- Almost 82% of IoT companies in India have less than 50 employees compared to 87% on a global level.
- Around 36% IoT organizations in India saw a decline in headcount last year. The decrease in headcount may not be indicative of an overall decline in growth but can be due to operational reasons including attrition etc.
- 10% IoT organization did not see any growth
- 44% organization saw a headcount growth of less than 25%.
- Being the IT hub of India, Bangalore undoubtedly continues to house the most number of IoT firms in India, i.e. almost 36%.
- Pune follows it at a distant 15% and Hyderabad at 10% IoT companies.
- Pune surprisingly has a larger share of IoT companies than other cities, owing to the city being home to some solid manufacturing base.
- Delhi, Mumbai & Gurgaon are far behind with their percentages of IoT companies in single digits as reflected in the graphs below.
- Compared to a year back, the share of IoT companies has remained almost the same, except:
- Chennai saw an increase in % share of IoT companies, from 7% in 2016 10% in 2017.
- Gurgaon saw a decline, from 8% to 6% this year.