5 top IoT companies in India
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The Internet of Things (IoT) industry has strong potential in India and globally, driven by advancements in technology and an increasing demand for connected solutions across sectors. Globally, IoT has reshaped industries such as manufacturing, healthcare, automotive, and energy by enabling devices to communicate, analyze, and act on data autonomously. This transformation has led to smarter, more efficient processes and new opportunities for innovation.
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Global IoT Industry Trends
Globally, the IoT market is expected to grow significantly as industries adopt IoT technologies to improve operations and customer experiences. The rapid adoption of 5G is also fueling IoT growth by offering faster, more reliable connections for devices, enabling real-time data processing crucial for applications like autonomous vehicles, remote healthcare, and industrial automation.
According to recent industry estimates, The global Internet of Things (IoT) market has experienced significant growth in recent years and is projected to continue expanding robustly. As of 2024, the global IOT market was valued at approximately USD 1 trillion. Analysts estimate the IOT market to reach USD 4 trillion by 2032, driven by advancements in technology, and increased adoption across various industries.
IoT Industry Trends in India
India stands at a pivotal moment in IoT development, with massive growth potential fueled by the country’s digital transformation initiatives and a strong government push toward “Digital India.” IoT can significantly impact sectors like agriculture, manufacturing, energy, healthcare, and urban infrastructure.
India’s IoT market is expected to grow robustly, backed by factors such as increased smartphone penetration, affordable internet access, and government incentives for electronic manufacturing. India’s growing electronics and technology manufacturing base also enables local production of IoT devices and reduces dependence on imports.
The Indian government has played an active role in fostering the IoT industry through initiatives such as the Production Linked Incentive (PLI) scheme, which supports local manufacturing of electronics, including IoT devices. Additionally, the National Digital Communications Policy emphasizes the development of IoT ecosystems to support smart infrastructure and innovation.
Leading Indian technology companies and startups are contributing to the IoT landscape by developing innovative solutions that cater to both domestic and global markets. Companies like Kaynes Technology are expanding their IoT capabilities and infrastructure to cater to the rapidly growing demand across sectors, which is crucial for both domestic growth and exports.
The stock market performance of these IOT companies has been very strong over the last year and still has a lot of potential to grow. Let us discuss the 5 Best top IOT companies in India to invest in.
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5 Best top IOT companies in India
Let us analyze the 5 best top IOT companies in India who are leading this industry in India and globally. These companies are the best in their categories and have a major market share in India. This will help you to understand the brand of these companies in the IoT industry. However, to invest in these companies you need to understand their financial performance and future growth potential in terms of earning. Do your due diligence before investing.
IoT Stock buy or sell
Kaynes Technology India Limited
Kaynes Technology India Limited has emerged as a prominent brand in India’s IoT market, distinguishing itself with a comprehensive portfolio of IoT solutions and a strong reputation as a leader in Electronic System Design and Manufacturing (ESDM). For a detailed analysis of the stock you can refer to the article “Is Kaynes Technologies a good buy now?”. Kaynes Tech is one of the best IoT stocks to buy.
Founded in 1988, Kaynes Technology has built its brand on a foundation of innovation, customer-centric solutions, and commitment to excellence. With 10 global certifications, Kaynes is among the most certified ESDM companies in India, highlighting its compliance with international standards across various industries.
IoT Services and Solutions
Kaynes offers a wide range of services in the IoT sector, including Original Design Manufacturing (ODM) and custom IoT solutions tailored to meet specific industry needs. Through its subsidiary Kemsys, Kaynes provides full-stack IoT services encompassing device engineering, digital engineering, and quality assurance, catering to both established corporations and startups. Kemsys’s offerings include customized sensor products, multi-protocol gateways, and cloud platforms compatible with Industry 4.0 and smart city standards.
Key service offerings by Kaynes include:
- IoT-Enabled Smart Devices
- Industrial IoT (IIoT)
- ODM and Embedded Design
- Cloud-Integrated IoT Solutions
Kaynes is strategically expanding its IoT platforms to develop next-generation products, including smart meters, streetlight controllers, and advanced industrial IoT modules. This innovation-driven approach positions Kaynes favorably as India’s IoT market continues to grow. This is one of the top IOT companies in India.
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Dixon Technologies (India) Limited
Dixon Technologies (India) Limited is one of the leading players in India’s IoT and electronics manufacturing market. Known for its expansive production capacity, the company has leveraged its expertise in Original Design Manufacturing (ODM) and Original Equipment Manufacturing (OEM) to support the growing IoT and electronics demand both domestically and internationally. Dixon has been at the top IoT stocks in India for quite a long time now.
Key IoT and EMS Offerings
Dixon has a comprehensive list of IoT-focused services, with capabilities in mobile electronics, lighting solutions, and consumer durables that cater to the demands of the smart and connected devices market. Within the mobile phone and EMS sector, Dixon manufactures both features and smartphones for leading global and domestic brands.
Additionally, Dixon’s R&D centers are actively engaged in developing advanced, sustainable solutions aimed at expanding into smart devices such as wearables and wearables. In partnership with prominent brands like boAt, Dixon has entered the wearables market, producing Bluetooth speakers, earbuds, and smartwatches, responding to the increasing consumer preference for connected, IoT-enabled devices.
Commitment to IoT Industry 4.0
Dixon actively incorporates Industry 4.0 practices across its manufacturing operations. By deploying smart production lines, real-time data analytics, and AI-powered quality control systems, Dixon ensures high efficiency and product quality. Its focus on digital transformation, such as the “CHAKRA” digitalization program, enhances operational scalability and aligns Dixon with emerging technological advancements. This makes it a top IoT stocks in India to invest in.
This forward-thinking approach strengthens Dixon’s position as a reliable partner in the IoT ecosystem, equipping it to meet evolving market demands swiftly. This makes it one of the top IOT companies in India.
Amber Enterprises India Limited
Amber Enterprises India Limited is a prominent player in India’s IoT and electronics manufacturing services market through strategic diversification and a commitment to innovation. Known for its strong brand presence, Amber has evolved from a core manufacturer of room air conditioners (RAC) into a diversified B2B solutions provider. The company caters to multiple sectors such as consumer durables, electronics, railway subsystems, and defense services spanning a comprehensive range of IoT-compatible components and systems.
Key IoT and EMS Offerings
The Electronics Management Services (EMS) division of the company supports the development of PCB assemblies, which are critical for IoT applications. This division supplies products to diverse segments, including telecom, smart metering, and automotive sectors, which all require IoT-enabled solutions for enhanced connectivity and data-driven operations. The expansion into EMS has allowed Amber to support customers with IoT-enabled PCBAs and PCBs for various consumer and industrial applications.
With 30 manufacturing facilities across India, Amber’s infrastructure supports the local production of complex IoT components, reducing dependency on imports and aligning with the Indian government’s “Make in India” initiative.
Amber’s focus on greenfield expansion has allowed it to establish new facilities in regions like Andhra Pradesh, Pune, and Chennai, further strengthening its domestic production capabilities.
One of the top IoT stocks in India
Amber’s reputation is led by its strategic acquisitions, which have broadened its product portfolio. For instance, the joint venture with Resojet enables Amber to manufacture washing machines and related components, while the acquisition of Ascent Circuits adds significant value to PCB manufacturing. These moves not only expand Amber’s capabilities but also enhance its capacity to support IoT applications across various industries, including defense, medical electronics, and automotive sectors.
Amber Enterprises stands out in India’s IoT la manufacturing capabilities, strategic expansions, and forward-thinking approach to developing IoT-enabled solutions. Amber Enterprises is one of the best stocks to buy in the IoT and EMS segment to capture the growth story in India. This is one of the best top IOT companies in India.
Syrma SGS
Syrma SGS Technology Limited is a prominent player in India’s Electronics System Design and Manufacturing (ESDM) sector, with a solid foothold in the IoT market. Known for its engineering-driven approach and comprehensive offerings, Syrma SGS has built a strong brand name as an innovative and reliable IoT solutions provider in India and internationally.
With its deep expertise in precision manufacturing and a diversified product portfolio, the company supports IoT applications across sectors like automotive, healthcare, consumer electronics, industrial, and railways. One of the best IoT stocks in India
Key IoT and ESDM Offerings
Syrma SGS’s product offerings in the IoT domain span several high-demand areas, such as:
- RFID and Magnetic Components
- PCB Assemblies (PCBA)
- Smart Consumer Electronics
- Healthcare and Medtech
- Automotive and EV Solutions
Strategic Positioning and Expansion
Syrma SGS has strategically positioned itself to capitalize on India’s growing IoT and EMS market, supported by the “Make in India” initiative and various government incentives like the Production Linked Incentive (PLI) scheme. The company’s recent expansions, including new manufacturing campuses and facilities across India, enhance its production capabilities, allowing it to meet rising demand in the IoT market.
Syrma SGS is one of my favorite and best stocks to buy in the IoT-enabled products segment in India. Strong R&D infrastructure, and focus on high-growth verticals make it a leader in the Indian IoT market. You can analyze the financial performance of this company further before investing your hard-earned money. One of the top IOT companies in India. You can also comment or ask us to help you in analyzing this company’s financial performance to help you. Reach out to us.
Elin Electronics Limited
Elin Electronics Limited has established a strong presence in India’s IoT and electronics manufacturing sector, marked by over five decades of experience in electronics manufacturing services (EMS). Known for its robust capabilities in Original Equipment Manufacturing (OEM) and Original Design Manufacturing (ODM), Elin Electronics serves a broad client base, including prominent brands like Philips, Signify, Panasonic, and Bosch, building a reputation for reliability and quality.
Key IoT and EMS Offerings
Elin Electronics offers a diverse product portfolio, catering to various IoT-enabled consumer electronics and industrial applications. The company’s expertise includes:
- Lighting and IoT-Enabled Products
- Small Appliances and Motors
- Medical Diagnostic Devices
- Automotive and Industrial IoT
Strategic Positioning and Growth
Elin Electronics is well-positioned to capture growth in India’s IoT market, driven by factors like backward integration, strategic partnerships, and a strong R&D focus. The company’s commitment to expanding its ODM share — particularly in lighting and small appliances — allows it to introduce innovative IoT products rapidly.
Elin Electronics stands out in the IoT landscape due to its comprehensive product offerings, robust brand reputation, and commitment to innovation. This is one of the best top IOT companies in India to buy.