According to market
research report "IoT Integration
Market Size, Application (Smart Building and Home Automation,
Smart Healthcare), and Region - Global Forecast by Service (Device and Platform
Management, System Design and Architecture, Network Management, Advisory),
Organization to 2025", published by MarketsandMarkets™, the IoT Integration Market size is projected to grow from USD 1.5 billion in 2020 to USD
5.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 28.5% during
the forecast period.
The major factors driving the growth of the IoT Integration Market
include the proliferation of connected devices to encourage BYOD and remote
workplace management, development of wireless technologies, increased
operational efficiency, maturing partner agreements of IoT vendors, and the
emergence of Internet Protocol version 6 (IPv6).
Browse and in-depth TOC on “IoT Integration
Market”
264 – Tables
42 - Figures
268 - Pages
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Based on services, the services segment to grow at a higher CAGR
during the forecast period
The services segment includes device and platform management
services, application management services, advisory services, system design and
architecture, testing services, service provisioning and directory management,
third party API management services, database and block storage management
services, network management services, infrastructure, and workload management
services. System design and architecture services involve the analysis, design,
and configuration of the software components required to support the system
architecture. System design engagement typically provides advice for the sizing
of new systems and the scaling of existing systems. It provides improved system
performance, offers tailored configuration advice, and monitors the capability
usage of system resources. Service providers also design and offer client
requirements and budget-specific customized services to manage business
workflows. Additionally, service providers offer reliable systems and
architecture services, including IoT solution and connectivity design, wireless
network design, and IoT infrastructure design.
Based on organization size, large enterprises is to lead the
market during the forecast period
The large enterprise segment uses the IoT integration services
platform to ensure efficient integration and management of IoT devices for
business processes. Large enterprises are early adopters of IoT integration
services. The adoption of IoT integration services in large enterprises is said
to be higher as compared to SMEs. Large enterprises have the necessary
resources but face issues when it comes to deployment type due to the variety
of solutions and applications available. This complexity and sophistication of
the IT infrastructure may lead to the requirement of a dedicated department for
IT infrastructure management. These organizations have larger budgets due to
the number of users and the importance of data; however, the size of the budget
may vary from industry to industry, majorly in smart healthcare, smart
manufacturing, and smart transport and logistics industries.
Based on application, the smart healthcare segment to grows at a
higher CAGR during the forecast period
Smart healthcare is an interconnected system of medical devices
and sensors that healthcare organizations use for patient management, chronic
disease management, remote monitoring of various parameters of patients, and
preventive care. The connected devices enable healthcare organizations to
streamline their operations, business processes and offer real-time patient
care, even from remote locations. The smart healthcare application area is
rapidly adopting IoT integration services to leverage IoT benefits. These
services integrate IoT capabilities into medical devices for improving the
quality and effectiveness of services and offering high value for elderly
patients with chronic conditions and those patients who require constant supervision.
IoT integration services play a vital role in the smart healthcare application
area to integrate and interoperate the smart devices involved in the smart
healthcare ecosystem. In addition, they help integrate vital vendor-agnostic
monitoring devices and support HIPAA-compliant authorization processes and data
flow management. IoT healthcare applications include smart glucose level
sensing and controlling, heart monitoring, blood pressure monitoring, and smart
temperature monitoring.
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Asia Pacific to hold the highest market size during the forecast period
APAC is the fastest-growing region in the IoT Integration Market;
this growth can be attributed to the significant adoption of advanced
technologies, the proliferation of IoT-enabled devices, continuously enhancing
network connectivity and government initiatives for IoT. APAC has emerged as
the most lucrative market for IoT integration services. Countries of this
region have a positive outlook toward IoT services and applications over
various business verticals.
Moreover, these countries are taking aggressive initiatives to
upsurge the IT infrastructure, thus enabling commercial users to adopt
cutting-edge technology. According to the GSM Association, APAC represents the
single largest market for IoT services with an expected seven billion
connections by 2021. The presence of IoT vendors, such as TCS, Wipro, NTT Data,
Fujitsu, and others, is one of the factors driving the growth of the IoT
integration in the APAC region. The size of the revenue potential in the APAC
region is attracting international IoT vendors to offer their IoT integration
services in the region.
Major vendors operating in the IoT Integration Market include TCS Limited (India), DXC Technology
(US), Wipro Limited (India), Atos SE (France), Accenture (Ireland), Fujitsu
Ltd. (Japan), Infosys Limited (India), Capgemini (France), HCL Technologies
Limited (India), Tech Mahindra Limited (India), , IBM Corporation (US),
Cognizant (US), NTT Data Corporation (Japan), Dell EMC (US), Deloitte (US),
Mulesoft LLC (US), Allerin Tech Pvt Ltd (India), Softdel (US), Phitomas
(Malaysia), Einfochips (US), Timesys Corporation (US), Tibbo Systems (China),
Aeris (US), Macrosoft Inc. (US), and Damco (US).
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