Each year we plan to come up with a study on how IoT companies are coming up in various cities in India and where is the action happening. By IoT Organizations we refer to companies that provide services or products externally around IoT. This can include training organizations or even large consulting companies with IoT as a service line. We have also included product companies that have created products with a deep focus or dependency around IoT.
There are more than 500 companies (of all sizes) in India providing IoT services. The number has grown significantly from last year. These also include peripheral services like training and recruitment. Given this volume, it’s obvious that IoT is buzzing with passionate pandemonium. With this study, we aim to bring some meaning to the chaos and clear the fog around the IoT companies scene in the Indian economy.
More than 500 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.
Moreover, the number of IoT companies in India are still very few in number, compared to the strength of IoT companies around the globe. In fact, India accounts for just 6% of global IoT companies.
On an average, Indian IoT companies have 185 employees on their payroll.
On a global scale, this is quite a good number, as IoT companies across the world employ an average of 170 employees
Almost 74% of IoT companies in India have less than 50 employees compared to 83% on a global level.
Being the IT hub of India, Bangalore undoubtedly, continues to house the most number of IoT firms in India, i.e. almost 37%.
Pune follows it at a distant 16% and Hyderabad at 10% IoT companies.
Delhi, Mumbai & Gurgaon are far behind with their percentages of IoT companies in single digits as reflected in the graphs below.