IoT Integration Market Research Report – Global Forecast till 2023

IoT Integration Market Research Report, by Services (Device and Platform Management, System Design and Architecture, Advisory Services, Database & Block Storage Management, Application Management Services, Third Party API Management Services and Others), Organization Size (Large Enterprises and Small & Medium Enterprises), Application (Smart Healthcare, Smart Retail, Smart Building, Energy & Utilities and Smart Transportation) - Global Forecast till 2023

ID: MRFR/ICT/5843-HCR | February 2021 | Region: Global | 100 pages

Market synopsis


Global IoT integration market is expected to grow from USD 778.4 million in 2017 to USD 4,066.79 million by 2023, at a 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 has led to growing demand for IoT integration services.  Furthermore, extending partnership agreement of IoT vendors, rise in adoption of IPAAS for secure reliable cloud integration, and growing use of API Approach for integration has further increased the importance of IoT integration services in different organizations.


IoT integration market, by application, is segmented into smart healthcare, smart retail, smart building, energy & utilities, and smart transportation. The smart building segment dominates the IoT integration market during the forecast period owing to the increasing adoption of IoT enabled energy-saving equipment for the efficient functioning of all electrical components in a building. This segment includes control systems and smart devices for lighting, monitoring, safety and security, emergency systems, heating, ventilation and air conditioning systems, and car parking.


The key players profiled in the IoT integration market research study are Cognizant Technology Solutions Corporation (US), International Business Machines Corporation (US), NTT Data Corporation (Japan), ATOS SE (France), Dell Technologies, Inc. (US), Tata Consultancy Services Limited (India), Intel Corporation (US), Wipro Limited (India), Fujitsu Ltd. (Japan), and Accenture PLC (Ireland). These players are largely investing in inorganic growth strategies such as partnership, agreement, and acquisition to strengthen their position in the IoT integration market. For instance, in 2018, ATOS SE and Siemens AG entered into a preferred partnership to provide solution that will enable enterprises to deploy IoT applications on private Cloud.


Segmentation


IoT Integration market is segmented based on services, organization size, application and region.


Based on services, the 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 market is bifurcated into large enterprises and small & medium enterprises (SMEs).


Based on application, the market is segmented into smart healthcare, smart retail, smart building, energy & utilities, and smart transportation.


By region, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World.


Regional analysis


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.


Competitive Analysis


The IoT integration market has witnessed the high demand for unifying interconnected mesh of heterogeneous devices that are located across different geographies having different communications protocols, varied network, and numerous applications. Key players are adopting strategies such as partnerships, agreements, and collaborations to increase their shares in the global IoT integration market. XX% of the total company developments were a part of partnership & collaboration whereas, new product launches and product enhancements accounted for XX% of the total strategic developments adopted by the key players in the 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).


Intended Audience



  • IoT platform providers

  • IoT integration service providers

  • Managed service providers

  • Communication service providers

  • Application providers

  • Network-as-a-Service providers

  • Third-party system integrators

  • Hardware vendors

  • Regulatory agencies

  • Governments



Frequently Asked Questions (FAQ) :


The IoT integration market is anticipated to expand at 32.06% CAGR.

The worth of revenue earned by IoT integration market is expected to reach USD 4,066.79 Mn.

The key players operating in the IoT integration market are Cognizant Technology Solutions Corporation (US), NTT Data Corporation (Japan), International Business Machines Corporation (US), ATOS SE (France), Tata Consultancy Services Limited (India), Dell Technologies, Inc. (US), Intel Corporation (US), Fujitsu Ltd. (Japan), Wipro Limited (India), and Accenture PLC (Ireland)

The application-based segments of the IoT integration market are smart healthcare, smart building, smart retail, energy & utilities, and smart transportation.

The segments of the IoT integration market, by services, are device and platform management, advisory services, system design and architecture, database & block storage management, third party API management services, application management services, and others.