IoT Integration Market Share, Value, CAGR, Outlook, Analysis, Latest Updates, Data, and News 2023
IoT Integration Market Highlights
IoT integration refers to the set of services used to streamline and exchange data in an interconnected mesh of heterogeneous devices that are located across different geographies having different communications protocols, varied network, and numerous applications. It provides a unified view of data and related metrics to the relevant stakeholders in the organization. IoT integration assist in efficient management of business workflows. The report highlights the essential elements such as market share, IoT integration market size, sales, manufacturing, advertising, technological advancements, key market players, regional segmentation, and many more.
IoT integration market is expected to grow from USD 778.4 million in 2017 to USD 4,066.79 million, at a compound annual growth rate (CAGR) of 32.06% during the forecast period. The rise in bring your own device and remote workplace management culture in organizations, growing need for data consistency, increase in regulatory compliance and regulations, and growing traction for risk mitigation drive the growth of IoT integration market.
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IoT Integration Market Key players
The prominent players in the IoT integration market have been identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. The major vendors of the market are Tata Consultancy Services Limited (India), Wipro Limited (India), ATOS SE (France), Accenture PLC (Ireland), Fujitsu Ltd. (Japan), Infosys Limited (India), Capgemini SE (France), HCL Technologies Limited (India), SoftDEL (US), Tech Mahindra Limited (India), Meshed (Australia), Intel Corporation (US), MuleSoft (US), DXC Technology (US), International Business Machines Corporation (US), Cognizant Technology Solutions Corporation (US), NTT Data Corporation (Japan), Phitomas (Malaysia), and Allerin (US).
These players are adopting strategies such as partnership, agreement, and acquisition to increase their shares in the global IoT integration market. For instance, in 2018 Telefónica S.A. entered into an agreement with Microsoft Azure IoT to integrate its IoT connectivity platform with Microsoft Azure IoT Suite.
IoT Integration Market Segmentation
IoT Integration market is segmented based on services, organization size, application and region.
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Based on services, the IoT Integration market is segmented into device and platform management, system design and architecture, advisory services, database & block storage management, application management services, third party API management services, and others.
Based on organization size, the IoT Integration market is bifurcated into large enterprises and small & medium enterprises (SMEs).
Based on application, the IoT Integration market is segmented into smart healthcare, smart retail, smart building, energy & utilities, and smart transportation.
By region, the IoT Integration market is segmented into North America, Europe, Asia-Pacific and Rest of the World.
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The global market for IoT integration is estimated to grow at a notable rate during the forecast period from 2018 to 2023. The geographical analysis of IoT integration market is done for North America, Europe, Asia-Pacific, and the rest of the world.
North America is expected to dominate the IoT integration market from 2018 to 2023 owing to early adoption of trending technologies such as IoT, big data, DevOps, and mobility by the end-users in the region. Furthermore, there is high concentration of market players and easy availability of proficient technical expertise. The region is estimated to grow at the highest CAGR during the forecast period.
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