As per Market Research Future (MRFR)’s latest report, the global IoT integration market is set to mark a CAGR of 32.06% during the forecast period 2018 to 2023. The assessment underscores that the global market’s valuation is anticipated to touch USD 4,066.79 Mn by the end of 2023 up from USD 778.4 Mn in 2017. IoT offers flexibility and reliability for real time monitoring of data. This is expected to lead the expansion of applications across different domains, thus, augmenting the market in the upcoming years.
The advancements being observed in the related technologies such as Artificial Intelligence (AI), connectivity of devices, LPWAN, big data analytics, etc. are projected to catapult the IoT integration market on an upward trajectory. Technological developments are forecasted to dictate the growth pattern of the market over the next couple of years. Also, the ongoing industry trend of Bring Your Own Device (BYOD) is expected to have a favorable impact on the proliferation of the market in the foreseeable future.
The shift witnessed towards digitization supported by government laws is prognosticated to expedite the expansion of the IoT integration market across the review period. Key end-user industries are leveraging the technology for cost-benefit and quick decision making. The demand for operational efficiency is anticipated to accelerate revenue creation for the participants of the IoT integration market.
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By services, the global IoT integration market has been segmented into device and platform management, advisory services, system design and architecture, database & block storage management, third party API management services, application management services, and others.
By organization size, the IoT integration market has been segmented into large enterprises and small & medium enterprises (SMEs).
By application, the global IoT integration market has been segmented into smart healthcare, energy & utilities, smart building, smart retail, and smart transportation.
The key players of the global IoT integration market profiled in this MRFR report are Tata Consultancy Services Limited (India), ATOS SE (France), Wipro Limited (India), Accenture PLC (Ireland), Infosys Limited (India), Fujitsu Ltd. (Japan), Capgemini SE (France), SoftDEL (US), HCL Technologies Limited (India), Tech Mahindra Limited (India), Intel Corporation (US), Meshed (Australia), MuleSoft (US), International Business Machines Corporation (US), DXC Technology (US), Cognizant Technology Solutions Corporation (US), Phitomas (Malaysia), NTT Data Corporation (Japan), and Allerin (US).
The geographical assessment of the global IoT Integration Market spans across North America, Europe, Asia Pacific and the Rest of the World (RoW). The market is expected to witness tremendous developmental opportunities in terms of technological advancements. The early adoption of these innovations is poised to place North America on the forefront position through the forecast period. The region is also anticipated to scale a relatively higher CAGR over the assessment period. In addition, the consolidation of major vendors in the region is poised to boost the growth pace of the IoT integration market in the region.
In April 2019, EVRYTHNG, an IoT based platform that makes consumer products interactive and intelligent, has partnered with a non-profit foundation which develops distributed ledger technology (DLT)-based platforms, for the launch of distributed ledger tech-based IoT applications.
In April 2019, Microsoft Corporation, an American multinational technology company, has completed the acquisition of Express Logic, a provider of software solutions for embedded and IoT developers, to improve its IoT offerings. The deal was worth USD 5 Bn.
In April 2019, SenRa, Low Power Wide Area Network Providers (LPWAN) in India, has collaborated with myDevices for the development of “IoT in a Box” with a focus on monitoring and management of end-to-end commercial refrigeration.
LIST OF TABLES
Table 1 Global IoT Integration Market, By Region, 2018–2023
Table 2 North America: IoT Integration Market, By Country, 2018–2023
Table 3 Europe: IoT Integration Market, By Country, 2018–2023
Table 4 Asia-Pacific: IoT Integration Market, By Country, 2018–2023
Table 5 Middle East & Africa: IoT Integration Market, By Country, 2018–2023
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LIST OF FIGURES
FIGURE 1 Global IoT Integration Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global IoT Integration Market
FIGURE 4 Value Chain Of Global IoT Integration Market
FIGURE 5 Share Of Global IoT Integration Market In 2017, By Country (In %)
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