Global IoT Integration Market - Overview
According to Market
Research Future (MRFR), the global IoT Integration Market is estimated to
expand from USD 778.4 million in 2017 to USD 4,066.79 million by 2023, with a
CAGR of 32.06% from 2018 to 2023 (forecast period). The research report
provides a succinct summary of the effects of COVID-19 on current/future market
conditions. The report outlines some of the key market factors that will affect
the growth of the industry, such as market share, critical region, and big players.
The term Internet of Things
(IoT) refers to a network of interrelated computing devices, mechanical and
digital machines, or any physical object capable of collecting and transmitting
electronic data. Generally, many of these physical devices are pre-built with
unique identifiers and an additional feature that enables them to transmit data
over a network without the need for human-to-computer interaction. IoT
integration services refer to the collection of services provided by vendors
for the efficient functioning of IoT. In order to unify the widely
interconnected mesh of unlikely devices distributed around the globe, IoT
integration services are commonly used in various communication protocols,
multiple applications, and separate networks.
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Market Dynamics
Increase in bring your own
device and remote workplace management culture of companies, the increasing
need for data consistency, increased regulatory compliance and regulation, and
growing traction for risk mitigation have led to a growing demand for IoT
integration services. In addition, the expansion of the partnership agreement
of IoT vendors, the increase in the adoption of IPAAS for secure, stable cloud
integration, and the increasing use of the API Approach for integration have
further increased the value of IoT integration services in different
organizations.
Market Segmentation
The global market for IoT
Integration has been segmented based on services, organization size, and
application.
Based on services, the
global IoT Integration market has been segmented into device and platform
management, third-party API management services, advisory services, system
design and architecture, database & block storage management, application
management services, and others.
Based on organization size,
the global IoT Integration market has been segmented into large enterprises and
small & medium enterprises (SMEs).
Based on application, the
global IoT Integration market has been segmented into smart healthcare, smart
retail, smart building, energy & utilities, and smart transportation.
Regional Analysis
The geographical analysis
of the global IoT integration market is done for North America, Europe, Asia
Pacific, and the rest of the world.
North America is expected
to lead the IoT integration market from 2018 to 2023 due to the early adoption
of developing technologies such as IoT, Big Data, DevOps, and end-user mobility
in the region. Furthermore, there is a high concentration of industry players
and the simple availability of skilled technical expertise. The area is
expected to rise at the highest CAGR in the forecast period.
Key Players
The industry giants in the
global IoT integration industry have been identified across all the major
regions on the basis of their country of origin, presence across different
areas, recent key developments, product diversification, and industry
expertise. The prominent vendors of the market are Tata Consultancy Services
Limited (India), Capgemini SE (France), Wipro Limited (India), Infosys Limited
(India), ATOS SE (France), Accenture PLC (Ireland), Fujitsu Ltd. (Japan), HCL
Technologies Limited (India), SoftDEL (US), DXC Technology (US), Tech Mahindra
Limited (India), Meshed (Australia), Intel Corporation (US), MuleSoft (US),
International Business Machines Corporation (US), Cognizant Technology
Solutions Corporation (US), NTT Data Corporation (Japan), Phitomas (Malaysia), and
Allerin (US).
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