The global Internet Of Things (IoT) Integration Market is projected to be valued at USD 8.21 Billion by 2027, according to a current analysis by Emergent Research. Due to the growing adoption of the “Bring Your Device trend” in the contemporary business paradigm, the global market for Internet of Things (IoT) integration is anticipated to increase significantly during the estimated period. Services for IoT integration aid in regulating device vulnerability, guaranteeing ongoing connectivity, managing the internet, and addressing data security threats brought on by the use of connected devices. Mobile devices, desktop computers, tablets, and wearable technology can all be used to remotely access and control connected devices digitally. The demand for IoT integration services to ensure the effective operation of linked devices has expanded as a result of the rising demand for these connected devices across the globe.
During the projected period, it is anticipated that increased legal enforcement and regulations will fuel the market. The market for Internet of Things (IoT) integration is also propelled by growing federal regulations that encourage the expansion of data integration across various apps and devices globally.
However, over the forecast period, the lack of uniformity in the Internet of Things (IoT) integration methods would restrain the market growth.
Key Highlights of Report
- Accenture plc purchased Callisto Integration Corporation in May 2020. Major participants in the food & beverage, chemical, utilities, and other industries can use the automated production services provided by Callisto Integration Corporation, a Canadian consultancy and technology services provider. With this acquisition, Accenture would offer a unique combination of production, infrastructure, and analytics capabilities.
- The market’s largest segment, small and medium-sized businesses, is anticipated to grow at a CAGR of 27.6% throughout the forecast period. Data is a crucial component of the Internet of Things (IoT), which must be integrated into structures to support the growth of small and medium-sized businesses. By utilizing and analyzing Big Data analytics, small and medium-sized firms can better interact with their consumers, increase productivity, cut operating costs, test decisions, and spot trends.
- During the projected period, the device & platform management services segment is anticipated to rule the market. It gives IoT manufacturers a definite competitive advantage and makes it simpler to efficiently distribute new devices.
- The home automation and smart building sector are anticipated to rule the market throughout the projected period. IoT-integrated buildings offer solutions to problems such as excessive spending and ineffective building construction.
- The presence of significant market players like Tata Consultancy Services Limited, Infosys Limited, Tech Mahindra Limited, Wipro Limited, and HCL Technologies Limited in the region over the projection period is expected to cause the Asia Pacific market to expand at the fastest rate.
- Key participants include Tata Consultancy Services Limited, Infosys Limited, Tech Mahindra Limited, International Business Machines Corporation (IBM), Deloitte Touche Tohmatsu Limited, Wipro Limited, Accenture plc, Capgemini SE, Cognizant Corporation, and HCL Technologies Limited.
Emergen Research has segmented the global Internet of Things (IoT) integration market based on organization, service, application, and region.
Organization Outlook (Revenue, USD Billion; 2017–2027)
- Small & Medium Enterprises
- Large Enterprises
Service Outlook (Revenue, USD Billion; 2017–2027)
- Testing Services
- Advisory Services
- Application Management Services
- Database Management Services
- Device and Platform Management Services
- Network Protocol Management Services
- Third-party API Management Services
- System Design & Architecture Services
- Service Provisioning & Directory Management Services
Application Outlook (Revenue, USD Billion; 2017–2027)
- Smart Retail
- Energy & Utilities
- Smart Healthcare
- Smart Logistics & Transportation
- Home Automation & Smart Building
- Industrial Manufacturing Automation
Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- the U.S.
- the U.K.
- Rest of Europe
- the Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA