India ICT Market to Reach $1,95,431.59M by 2034: Key Trends & Forecast

According to IMARC Group’s report titled “India ICT Market Size, Share, Trends and Forecast by Spending, Technology, and Region, 2026-2034“, the report presents a thorough review featuring the market share, growth, trends, and research of the industry.

How Big is the India ICT Market?

The India ICT market size was valued at USD 99,210.08 Million in 2025. Looking forward, IMARC Group estimates the market to reach USD 1,95,431.59 Million by 2034, exhibiting a compound annual growth rate of 7.82% from 2026-2034.

Industry Insights:

• Base Year: 2025
• Historical Years: 2020-2025
• Forecast Years: 2026-2034
• Market Size in 2025: USD 99,210.08 Million
• Market Size in 2034: USD 1,95,431.59 Million
• Market Growth Rate (CAGR) 2026-2034: 7.82%

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India ICT Market Trends and Drivers:

The ICT sector booms in India. The entire country modernizes its digital infrastructure. This modernization occurs from central government ministries and state governments to small businesses. You can see this evolve with the rapid shift toward cloud computing, AI powering customer service, and IoT sensing in factories. It’s a digital switchover on a massive scale. The main driver of this trend is the expansion of modern telecommunication infrastructure, which is now reaching beyond cities to smaller towns and villages in tandem with the rollout of smartphones and Internet access.

With government funding also playing a massive role in the spread of broadband networks across the country, remote places are getting connected for the first time. We’re talking about true last mile optical fiber to village administrative blocks, online education, telehealth consultations. The service is now being rolled out on a large scale, demanding networking equipment, managed services, and telecommunications hardware from corners of the world that had previously been off the digital map.

Enterprise solutions were also evolving rapidly. IDC’s study observed that by 2024, nearly 40% of enterprises in India had adopted some form of cloud services, a figure that was expected to grow. Companies can now move mission-critical business processes to the cloud, gaining a level of flexibility unavailable even in customary IT environments. For example, a mid-sized manufacturing company in Pune can have access to the same type of advanced analytics tools that a multinational company in Mumbai has, but only pay for what it uses. This democratization of technology benefits small companies that could not afford enterprise-grade technology solutions before.

But perhaps the most interesting thing is the 5G rollout, which could open up entirely new opportunities beyond what faster mobile internet can bring: 5G ultra low latency and high bandwidth can be used for new applications such as remote monitoring and control of industrial equipment, augmented reality for maintenance workers, vehicular communication for self-driving vehicles, and adaptive infrastructure for the smart city. The Ericsson Mobility Report states wireless broadband subscriptions passed fixed broadband subscriptions as the most common access technology in 2025. The ratio was 954.99 million wireless broadband subscriptions to 44.82 million fixed wired broadband subscriptions. The 5G subscription base reached 394 million worldwide in 2025. That’s not incremental growth, that’s a fundamental change in how connectivity is delivered and consumed.

AI has passed the hype cycle and is being adopted at a fast pace. Close to 89% of all startups being established in India in 2024 have AI-based offerings. Finally, it is not just startups using AI: banks for fraud detection, manufacturers for predictive maintenance, retailers for recommendation engines, and healthcare for diagnostics have all started using AI in their operations. The Indian government’s emphasis on sovereign AI infrastructure is important due to its democratizing effect in enabling access to compute. This allows startups, researchers, and smaller firms to develop and deploy AI solutions without the need for expensive hardware, which is often unavailable.

Manufacturing is undergoing Industry 4.0, that is to say the fourth industrial revolution, with factory floors connected via industrial IoT sensors that monitor machine health, production statistics, and energy consumption. According to the IMARC Group, India industrial IoT market grew to USD 9.40 Billion in 2024. This money could go into the sensors, the connectivity and edge computing devices and the IoT analytics platform. If for example a textile manufacturer in Surat knows a machine is going to fail and can replace it when the machine is idle, that definitely saves costs and increases productivity.

 

India ICT Market Report Segmentation:

The market report offers a comprehensive analysis of the segments, highlighting those with the largest India ICT market share. It includes forecasts for the period 2026-2034 and historical data from 2020-2025 for the following segments.

Analysis by Spending:

• Devices
• Software
• IT Services
• Data Center Systems
• Communication

Analysis by Technology:

• IoT
• Big Data
• Cloud Computing
• Content Management
• Security

Regional Analysis:

• North India
• South India
• East India
• West India

Top Key Players Analysis:

The report provides a detailed analysis of the competitive environment. It covers various aspects such as market structure, positioning of key players, top strategies for success, a competitive dashboard, and a company evaluation quadrant. Furthermore, the report includes comprehensive profiles of all major companies.

Other Key Points Covered in the Report:

• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Strategic Recommendations
• Market Dynamics
• Historical, Current, and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
• Top Winning Strategies
• Recent Industry News
• Key Technological Trends & Development

Research Methodology:

The report employs a comprehensive research methodology, combining primary and secondary data sources to validate findings. It includes market assessments, surveys, expert opinions, and data triangulation techniques to ensure accuracy and reliability.

Note: If you require specific details, data, or insights that are not currently included in the scope of this report, we are happy to accommodate your request. As part of our customization service, we will gather and provide the additional information you need, tailored to your specific requirements. Please let us know your exact needs, and we will ensure the report is updated accordingly to meet your expectations.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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