IoT Integration Market by Service (Device and Platform Management, System Design and Architecture, Network Management, Advisory), Organization Size, Application (Smart Building and Home Automation, Smart Healthcare) and Region - Global Forecast to 2027

IoT Integration Market by Service (Device and Platform Management, System Design and Architecture, Network Management, Advisory), Organization Size, Application (Smart Building and Home Automation, Smart Healthcare) and Region - Global Forecast to 2027

The global 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. IoT devices enable performing multiple functions faster in real-time due to its high computational power. The increasing adoption of IoT devices is increasing the need for integration services globally. The insights obtained after data analysis play an important role in improving the business functions.

In a short span of time, the COVID-19 outbreak has substantially affected economies and societies and has impacted markets and customer behaviors. Particularly, the telecom sector has been playing a vital role worldwide to support the digital infrastructure of countries amid the COVID-19 pandemic.

As per Fujitsu’s Global Digital Transformation Survey, online organizations witnessed growth in online demand and an increase in revenue while offline organizations were highly damaged. In 2020, 69% of the business leaders from online organizations stated that they witnessed an increase in their business revenue as opposed to 53% of offline organizations witnessing a decline in revenues.

The small and medium sized enterprises are estimated to account higher CAGR during the forecast period

As it is complicated and costly to set up a secured IT infrastructure, SMEs may traditionally run their IT infrastructures and are seldom aware of threats to their information. SMEs have been slow adopters of IoT integration services in the current market scenario. However, with the increasing emphasis on the adoption of advanced IT technologies and the demand for secure IT infrastructure, the SMEs segment is expected to adopt IoT integration services faster over the coming years. SMEs are typically more flexible in using and adopting emerging technologies, such as IoT, cloud, and analytics, as their existing IT investments are not huge. Hence, they can adopt any technology at a faster pace.

Among regions, APAC to hold higher CAGR during the forecast period

The growth of the IoT integration market in APAC is highly driven by the rapid digitalization of enterprises across the region. Market growth in this region is attributed to the rapid adoption of cloud computing, the rising number of medium-sized and small enterprises, and the number of start-ups increasing in the region. Emerging economies, such as China, India, Japan, South Korea, Australia, and New Zealand, are witnessing rapid economic growth and have a high potential to adopt IoT integration solutions.

Breakdown of primaries

In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the IoT integration market.

By Company: Tier I: 62%, Tier II: 23%, and Tier III: 15%

By Designation: C-Level Executives: 38%, Directors: 30%, and others: 32%

By Region: North America: 40%, Europe: 15%, Asia Pacific: 35%, Middle East and Africa: 5%, Latin America: 5%

The report includes the study of key players offering IoT integration solutions and services. It profiles major vendors in the global IoT integration market. The major vendors in the global 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).

Research Coverage

The market study covers the IoT integration market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as service, organization size, application, and region. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report

The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall IoT integration market and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.