Growing popularity of BYOD trends and surging need for real-time big data analysis are poised to drive global ToT integration industry growth.
According to a current analysis by Emergen Research, the Global Internet of Things (IoT) Integration Market size is forecast to reach USD 8.21 Billion from USD 1.29 Billion, delivering a CAGR of 27.4% through 2027. The rising trend of BYOD (Bring Your Own Device) in the modern business models to improve efficiency is fuelling the growth of the Internet of Things (IoT) integration market. The rise in legal enforcement and regulations promoting the growth of data integration across different various devices and applications worldwide will also foster market size over the coming years.
Internet of Things enhances the consistency of data and enables the generation of more reliable and precise data in real-time. Increasing IoT integration for better organizational data monitoring will support the Internet of Things (IoT) integration market expansion through 2027. However, the lack of uniformity of procedures for IoT may hamper industry growth in the projected timeframe.
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Key Highlights from Report
- On the basis of organization, the small & medium enterprises sub-segment is expected to hold a major chunk of the market share, delivering a CAGR of 27.6% over the analysis period. Data is a key part of small and medium enterprises, and it is essential to integrate Internet of Things (IoT) into structures to manage data. The integration of Big Data analytics enables small and medium businesses to connect with customers efficiently, lowering running costs, improving efficiency, and identifying trends.
- Based on service, the device & platform management services sub-segment is forecast to gain major traction over the analysis period as it helps in providing new devices effectively and also enables IoT makers to gain a competitive business edge.
- Based on application, the home automation & smart building sub-segment is forecast to contribute significantly to the global IoT integration market revenue share through 2027. Extensive utilization of IoT integrated technology for building constructions to avoid excessive spending and inefficacy in structure development is likely to boost segmental growth.
- In the regional landscape, the Asia Pacific market for Internet of Things integration is expected to showcase the fastest growth during the analysis period on account of the presence of major market players such as Infosys Limited, Tata Consultancy Services Limited, Tech Mahindra Limited, HCL Technologies Limited, and Wipro Limited, in the region.
- Key players in the global IoT integration market include Infosys Limited, Tata Consultancy Services Limited, Tech Mahindra Limited, Deloitte Touche Tohmatsu Limited, International Business Machines Corporation (IBM), Accenture plc, Wipro Limited, Cognizant Corporation, HCL Technologies Limited, and Capgemini SE, among others.
Emergen Research has segmented the global Internet of Things (IoT) integration market on the basis of 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
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
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