The IoT Integration Market size is expected to grow from USD 2.4 billion in 2022 to USD 9.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 30.2% during the forecast period. The IoT integration solutions enable companies to simplify the process and improve production optimization by utilizing connected devices, driving the IoT integration market.
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The smart building and home automation is expected to lead the IoT integration market in 2022.
The concept of ‘IoT home automation’ is advancing with the introduction of connected devices for buildings and houses. IoT home automation promises to open up significant new revenue sources and allow businesses to connect with customers to deliver better service, more value, and greater innovation. However, managing many connected devices requires highly advanced IoT software and services. Vendors provide IoT integration services to manage IoT home automation devices and other connected solutions. These platforms take the complexity out of provisioning and securing IoT products, managing and integrating the data they produce, and turning it into insights.
Smart buildings comprise energy-saving equipment for the efficient functioning of all components and systems of a building, including lighting; monitoring; safety and security; emergency systems; heating, ventilation, and air conditioning systems; and car parking. The concept of smart buildings has gained pace due to the increasing adoption of IoT solutions and services and the growing deployment of IoT sensors. With the growing numbers of IoT network devices, the critical need for reliable IoT integration services, such as system design and architecture services, advisory services, and testing services, has emerged for the smooth integration, interconnectivity, and functioning of connected devices.
System design and architecture services is expected to grow with the fastest growth rate during the forecast period.
The System design and architecture services comprise analysis, design, and configuration of the software components needed to support the system architecture. System design engagement directs the sizing of new systems and the scaling of existing systems. It improved system performance, provides customized configuration advice, and monitors the capability usage of system resources. Service providers offer reliable system and architecture services, including IoT solution and connectivity design, wireless network design, and IoT infrastructure design.
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The major vendors covered in the IoT integration market include TCS Limited (India), Wipro Limited (India), Atos SE (France), Accenture (Ireland), Fujitsu Ltd. (Japan), Infosys Limited (India), Capgemini (France), HCL Technologies Limited (India), Tech Mahindra Limited (India), DXC Technology (US), IBM Corporation (US), Cognizant (US), NTT Data Corporation (Japan), Dell EMC (US), Deloitte (US), Salesforce (US), Allerin Tech Pvt Ltd (India), Softdel (US), Phitomas (Malaysia), eInfochips (US), Timesys Corporation (US), Tibbo Systems (Taiwan), Aeris (US), Macrosoft Inc. (US), Damco (US) and Meshed (Australia). These players have adopted various growth strategies, such as partnerships, business expansions, agreements, and collaborations, new product launches to expand their presence in the IoT integration market.
Accenture provides a variety of services and solutions for strategy, consulting, digital, technology, and operations to deliver end-to-end services and solutions to clients in more than 120 countries across the globe. It serves more than 40 verticals, such as automotive and industrial, banking, chemicals, communications and media, consumer goods and services, energy, health, software and platforms, life sciences, public services, and retail. Accenture’s IoT service integrator provides complimentary systems integration skills covering enterprise software, IoT architectures, applications, and PMO by building on their end-to-end experience of large-scale IoT and SI projects to support CSPs and their client’s integration projects.
DXC Technology is a leading technology consulting, outsourcing, and support service provider. It assists SMEs and large enterprises in modernizing IT, optimizing data architectures, and ensuring security and scalability. It serves 6,000 customers from the public and private sectors. DXC Technology offers asset management and maintenance, IoT security, IoT analytics, and a connected supply chain to harness the power of digital performance. It offers managed IoT services for system integration and network infrastructure using a cloud platform, data analytics, and AI. DXC Technology provides services to manufacturing, transportation, healthcare, and energy industries to simplify operations, reduce costs, and increase speed to market. DXC Technology’s Universal IoT Platform enables the connection and exchange of information between heterogeneous IoT devices (standard and proprietary communication) and applications.
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