India ICT Market Size and Share - Outlook Report, Forecast Trends and Growth Analysis (2025-2034)
Market Report I 2025-05-29 I 142 Pages I EMR Inc.
India ICT market reached around USD 114.68 Billion in 2024. It is projected to grow at a CAGR of 13.10% during 2025-2034 to reach nearly USD 392.75 Billion by 2034.
India ICT Market Outlook
- India's digital economy is expected to attain a size of $1 trillion by 2027-28.
- India boasts approximately 821 million internet users and is the second largest internet market in the world.
- E-commerce platforms in India reached around GMV of US$ 60 billion in 2023, witnessing a y-o-y growth of 22%.
India ICT Market Growth
India's digital economy is growing at 2.8 times the rate of its GDP growth. By 2026-27, it is expected to account for 20% of its overall GDP growth. Under the India AI mission launched in 2024, the government aims to establish AI compute capacity worth 10,000 GPUs by funding 50% of the total infrastructure development cost. This is expected to favour the growth of the electronics industry, thereby paving the way for innovation in the market.
In 2022, India witnessed a year-on-year surge of over 75% in the volume of digital payments, which reached 74 billion and recorded a value of USD 1,536 billion. This can be attributed to numerous factors, such as rising accessibility to high-speed internet, rising smartphone availability, and the consumer convenience provided by digital payment platforms like PhonePe and GooglePay. Increasing consumer dependence on digital apps for ticket booking, hotel reservations, and online shopping is expected to directly impact the BFSI sector, which is anticipated to increase the deployment of various ICT technologies.
The introduction of 5G networks is expected to facilitate real-time monitoring of industrial machines, thereby minimising the risk of machine failure and downtime. This is expected to enhance the productivity and efficiency of India's manufacturing industry in the forecast period.
India ICT Industry Segmentation
India ICT Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type:
- Hardware_x000D_ _x000D_ Network Switches _x000D_ Routers and WLAN _x000D_ Servers and Storage _x000D_ Others _x000D_ _x000D_
- Hardware_x000D_ _x000D_ Network Switches _x000D_ Routers and WLAN _x000D_ Servers and Storage _x000D_ Others _x000D_ _x000D_
- Software
- Software
- IT and Infrastructure Services
- Telecommunication Services
Market Breakup by Industry Vertical:
- BFSI
- IT and Telecom
- Government
- Retail and E-Commerce
- Manufacturing
- Energy and Utilities
- Others
Market Breakup by Region:
- North India
- East and Central India
- West India
- South India
India ICT Market Share
Based on industry vertical, the market is divided into BFSI, IT and telecom, government, retail and e-commerce, manufacturing, and energy and utilities, among others. Over the forecast period, the IT and telecom sector is projected to grow at a CAGR of 13.9% during 2025-2034, aided by the rapid penetration of internet services and rising digitalisation of the economy.
Leading Companies in the India ICT Market
Major companies like the Tata Group are focusing on developing semiconductor manufacturing, assembling, and testing plants in key regions like Gujarat and Assam to foster innovations in the India market for ICT.
- IBM Corp.
- Microsoft Corp.
- Google LLC
- Accenture Plc
- Tata Consultancy Services Ltd.
- Tech Mahindra Ltd.
- Infosys Ltd.
- Wipro Ltd.
- HCL Technologies Ltd.
- Bharti Airtel Ltd.
- Others
India ICT MarketReport Snapshots
India ICTMarket Size
India ICT Market Growth
India ICTMarket Share
India ICTCompanies
1 Executive Summary
1.1 Market Size 2024-2025
1.2 Market Growth 2025(F)-2034(F)
1.3 Key Demand Drivers
1.4 Key Players and Competitive Structure
1.5 Industry Best Practices
1.6 Recent Trends and Developments
1.7 Industry Outlook
2 Market Overview and Stakeholder Insights
2.1 Market Trends
2.2 Key Verticals
2.3 Key Regions
2.4 Supplier Power
2.5 Buyer Power
2.6 Key Market Opportunities and Risks
2.7 Key Initiatives by Stakeholders
3 Economic Summary
3.1 GDP Outlook
3.2 GDP Per Capita Growth
3.3 Inflation Trends
3.4 Democracy Index
3.5 Gross Public Debt Ratios
3.6 Balance of Payment (BoP) Position
3.7 Population Outlook
3.8 Urbanisation Trends
4 Country Risk Profiles
4.1 Country Risk
4.2 Business Climate
5 Asia Pacific ICT Market Overview
5.1 Key Industry Highlights
5.2 Asia Pacific ICT Historical Market (2018-2024)
5.3 Asia Pacific ICT Market Forecast (2025-2034)
6 India ICT Market Overview
6.1 Key Industry Highlights
6.2 India ICT Historical Market (2018-2024)
6.3 India ICT Market Forecast (2025-2034)
7 India ICT Market by Type
7.1 Hardware
7.1.1 Historical Trend (2018-2024)
7.1.2 Forecast Trend (2025-2034)
7.1.3 Breakup by Type
7.1.3.1 Network Switches
7.1.3.2 Routers and WLAN
7.1.3.3 Servers and Storage
7.1.3.4 Others
7.2 Software
7.2.1 Historical Trend (2018-2024)
7.2.2 Forecast Trend (2025-2034)
7.3 IT and Infrastructure Services
7.3.1 Historical Trend (2018-2024)
7.3.2 Forecast Trend (2025-2034)
7.4 Telecommunication Services
7.4.1 Historical Trend (2018-2024)
7.4.2 Forecast Trend (2025-2034)
8 India ICT Market by Industry Vertical
8.1 BFSI
8.1.1 Historical Trend (2018-2024)
8.1.2 Forecast Trend (2025-2034)
8.2 IT and Telecom
8.2.1 Historical Trend (2018-2024)
8.2.2 Forecast Trend (2025-2034)
8.3 Government
8.3.1 Historical Trend (2018-2024)
8.3.2 Forecast Trend (2025-2034)
8.4 Retail and E-Commerce
8.4.1 Historical Trend (2018-2024)
8.4.2 Forecast Trend (2025-2034)
8.5 Manufacturing
8.5.1 Historical Trend (2018-2024)
8.5.2 Forecast Trend (2025-2034)
8.6 Energy and Utilities
8.6.1 Historical Trend (2018-2024)
8.6.2 Forecast Trend (2025-2034)
8.7 Others
9 India ICT Market by Region
9.1 North India
9.1.1 Historical Trend (2018-2024)
9.1.2 Forecast Trend (2025-2034)
9.2 East and Central India
9.2.1 Historical Trend (2018-2024)
9.2.2 Forecast Trend (2025-2034)
9.3 West India
9.3.1 Historical Trend (2018-2024)
9.3.2 Forecast Trend (2025-2034)
9.4 South India
9.4.1 Historical Trend (2018-2024)
9.4.2 Forecast Trend (2025-2034)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter's Five Forces Analysis
10.2.1 Supplier's Power
10.2.2 Buyer's Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Supplier Selection
11.2 Key Global Players
11.3 Key Regional Players
11.4 Key Player Strategies
11.5 Company Profiles
11.5.1 IBM Corp.
11.5.1.1 Company Overview
11.5.1.2 Product Portfolio
11.5.1.3 Demographic Reach and Achievements
11.5.1.4 Certifications
11.5.2 Microsoft Corp.
11.5.2.1 Company Overview
11.5.2.2 Product Portfolio
11.5.2.3 Demographic Reach and Achievements
11.5.2.4 Certifications
11.5.3 Google LLC
11.5.3.1 Company Overview
11.5.3.2 Product Portfolio
11.5.3.3 Demographic Reach and Achievements
11.5.3.4 Certifications
11.5.4 Accenture Plc
11.5.4.1 Company Overview
11.5.4.2 Product Portfolio
11.5.4.3 Demographic Reach and Achievements
11.5.4.4 Certifications
11.5.5 Tata Consultancy Services Ltd.
11.5.5.1 Company Overview
11.5.5.2 Product Portfolio
11.5.5.3 Demographic Reach and Achievements
11.5.5.4 Certifications
11.5.6 Tech Mahindra Ltd.
11.5.6.1 Company Overview
11.5.6.2 Product Portfolio
11.5.6.3 Demographic Reach and Achievements
11.5.6.4 Certifications
11.5.7 Infosys Ltd.
11.5.7.1 Company Overview
11.5.7.2 Product Portfolio
11.5.7.3 Demographic Reach and Achievements
11.5.7.4 Certifications
11.5.8 Wipro Ltd.
11.5.8.1 Company Overview
11.5.8.2 Product Portfolio
11.5.8.3 Demographic Reach and Achievements
11.5.8.4 Certifications
11.5.9 HCL Technologies Ltd.
11.5.9.1 Company Overview
11.5.9.2 Product Portfolio
11.5.9.3 Demographic Reach and Achievements
11.5.9.4 Certifications
11.5.10 Bharti Airtel Ltd.
11.5.10.1 Company Overview
11.5.10.2 Product Portfolio
11.5.10.3 Demographic Reach and Achievements
11.5.10.4 Certifications
11.5.11 Others
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