In 2019, the Global Internet of Things (IoT) Integration Market size was USD 1.29 billion in 2019 and is projected to hit USD 8.21 billion by 2027, at a CAGR of 27.4% during the forecast period. In the near future, due to the growing need for real-time Big Data analysis, the global market for Internet of Things (IoT) integration is expected to grow exponentially. In some regions, companies are beginning to integrate IoT devices to improve company processes. To make more informed business decisions, it is important to use insights through Big Data analysis. In addition, during the forecast period, the rising trend of ‘Bring Your Own Device” and the increasing remote work culture are expected to drive the Internet of Things (IoT) integration market revenue share.
In addition, the growing demand for data accuracy among organisations during the forecast period is likely to propel the market for the Internet of Things (IoT)integration. Internet of Things (IoT) improves data accuracy as more accurate and reliable data is generated in real-time. Similarly, the Internet of Things (IoT) data increases organisational monitoring.
Due to the presence of major market players in Asia Pacific region, the market is expected to experience the fastest growth during the forecast period. In addition, IoT is rapidly being adopted in the home automation and manufacturing industries in this region, especially in nations such as China, Japan, South Korea, and India.
However, the lack of uniformity of IoT procedures and data security and privacy concerns are expected to retrain the Internet of Things (IoT) integration market.
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Further Key Findings from Report Suggest:
- The small & medium enterprises sub-segment controlled the largest market share based on organisation size, holding 53.8% of the revenueshare in 2019.
- The system & network management services sub-segment is projected to hit USD 2.37 billion in terms of revenue by 2027.
- Device & platform management services provide Internet of Things (IoT) manufacturers with a strong advantage and allow them to quickly deliver new device-related facilities.
- In terms of sales, during the forecast period, the home automation & smart building sub-segment is expected to grow at a high CAGR of 27.6 percent.
- In 2019, North America accounted for the highest market share of 34.2% of the global market for the Internet of Things (IoT)integration.
- SALT Solutions AG was acquired by Accenture plc in October 2020. In the leading German automotive, engineering, consumer goods, and chemical sectors, SALT Solutions develops and operates infrastructure systems for operations, production, and distribution.
- Prominent players in the market 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, HCL Technologies Limited
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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
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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