IoT Integration Market: Information by Service (Device and Platform Management Services) Organization Size (Large Enterprise), Application (Smart Retail), and Region — Forecast till 2029

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Report Description

Market Overview

IoT integration refers to the services that are procured by the companies for efficient functioning of IoT devices. Various companies are opting for cloud-based integration systems to incorporate digital transformation, which enables rapid growth of the IoT integration industry. Integration is useful to capture data from smart devices and move it into business applications to automate processes and apply analytics for insights. Furthermore, IoT integration is also beneficial to meet the rapidly growing competitive nature of the current market scenario of manufacturing, hospitality, retail, transportation, and logistics and energy, among others.

Increasing regulatory compliance, the need for high-speed data, and burgeoning BYOD and remote workplace management are the factors fuelling the market growth. However, data security and privacy concern hinder the market growth. The IoT integration market was valued at USD 0.8 billion in 2019 and is expected to grow with a CAGR of 33.1%.

Growth of BYOD and Remote Workplace Management

Over the past few decades, a significant increase is witnessed in terms of the adoption of BYOD and remote workplace management solutions. Enterprises are encouraging employees to bring their own devices to the office. This has enabled enterprises to reduce their cost by not spending on corporate devices and enables employees to work from home and use the device of their choice. This trend has paved the way for a common platform across all devices that incorporate various applications. Furthermore, to connect multiple devices, IoT integration services have emerged as an effectivesolution as they provide two-way and real-time communication between the devices and systems.

These platforms act on data locally, automate corrective responses, and store data on the cloud for better business insights. The growth in BYOD and remote workplace management has propelled the need to manage devices and assets in enterprises. For instance, in March 2017, Brunel University deployed the Cisco BYOD smart solution to create a flawless experience of BYOD for students and staff. The integration of BYOD has enabled access to a network of approximately 5800 devices.

IoT Integration Market: Segmentation

Device and Platform Management Services Segment to Dominate the Market during the Forecast Period

The device and platform management services segment dominates the market as they offer a wide variety ofservices, including remote monitoring, connectivity, and troubleshooting of heterogeneous devices. The platform also allows integrating, connecting, and managing the visibility across global IoT chains. Moreover, increasing adoption of automation across various industry verticals to meet the growing consumer demand drives the market growth. 

SMEs: Largest User of IoT Integration

SMEs are the fastest-growing segment in the market on account of the rapid adoption of IoT integration and cloud-based connectivity across different industry verticals, particularly manufacturing. Cloud-based services offer several benefits, including the reduction in infrastructure costs, high security, and better customer supports, further driving its adoption in the SMEs. Additionally, growing investment by governments to enhance the connectivity within the country propels the IoT integration market. For instance, in February 2020, the U.S. Department of Energy’s (DOE) Office of Electricity (OE) announced USD 6.7 billion in funding for four university-led research projects to design and develop approaches to integrate Internet of Things (IoT) technologies.

Increasing Pressure to Improve Operational Performance to Drive the Adoption of IoT Integration in the Manufacturing Sector 

Industrial manufacturing is the fastest-growing segment in the IoT integration market on account of the increasing pressure to improve operational performance and enhance production processes. Thus, the manufacturing sectors are adopting IoT solutions, sensors, and wireless connectivity to improve their operational efficiency. Moreover, IoT enabled services offer more comprehensive functions, which allows manufacturing sectors to track the assets, production, and supply chain line. Additionally, modification in FDI policies in several countries has surged the foreign investment in the manufacturing sector, further driving the market growth. For instance, in July 2020, Taiwan contract manufacturer Foxconn announced plans to invest USD 1 billion in a production facility in India.

Regional Overview

Robust Presence of SMEs to Drive North America’s Market Growth

North America dominates theIoT integration market on account of the surging numbers of IoT enabled devices across different industry verticals in the region. The presence of numerous vendors offering IoT enabled services, such as Cognizant, Intel Corporation, and Mulesoft, drive the market growth. Similarly, the robust presence of SMEs in the region has significantly surged the adoption of cloud-based services on account of budget constraints, further driving the market growth.

IoT Integration Market in Asia-Pacific to Witness the Fastest Growth

Asia-Pacific is the fastest-growing region in the IoT integration market on account of the rapid adoption of IoT based devices among various industrial verticalsand rising government initiatives in developing economies to enhance the connectivity drives the market growth. Additionally, increasing smartphone penetration in developing economies and various digital payment services provides an impetus to the market growth.

Key Players

  • Tata Consultancy Services Limited (India)
  • Wipro Limited (India)
  • ATOS SE (France)
  • Accenture PLC (Ireland)
  • Fujitsu Ltd. (Japan)
  • Infosys Limited (India)
  • Capgemini SE (France)
  • HCL Technologies Limited (India)
  • SoftDEL(the U.S.)
  • Tech Mahindra Limited (India)
  • Meshed (Australia)
  • Intel Corporation (the U.S.)
  • MuleSoft (the U.S.)
  • DXC Technology (the U.S.)
  • International Business Machines Corporation
  • Cognizant Technology Solutions Corporation
  • NTT Data Corporation (Japan)
  • Phitomas (Malaysia)
  • Allerin (the U.S.)

IoT Integration Market: Segmentation

By Service

  • Device and Platform Management Services
  • Application Management Services
  • Advisory Services
  • System Design and Architecture Services
  • Testing Services
  • Service Provisioning and Directory Management Services
  • Third Party API Management Services
  • Database and Block Storage Management Services
  • Network Protocol Management Services
  • Infrastructure and Workload Management Services

ByOrganization size

  • Small and Medium-Sized Enterprises (SMEs)
  • Large Enterprise

By Application

  • Smart Building and Home Automation
  • Smart Healthcare
  • Energy and Utilities
  • Industrial Manufacturing and Automation
  • Smart Retail
  • Smart Transportation, Logistics, and Telematics

ByRegion

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • The U.K.
  • Italy
  • France
  • Spain
  • Germany
  • The Rest of Europe

The Middle East and Africa (MEA)

  • Saudi Arabia
  • Egypt
  • South Africa
  • The Rest of MEA

Asia-Pacific

  • India
  • China
  • Japan
  • Australia
  • South Korea
  • The Rest of Asia-Pacific

South America

  • Columbia
  • Brazil
  • Chile
  • Peru

Market Overview

IoT integration refers to the services that are procured by the companies for efficient functioning of IoT devices. Various companies are opting for cloud-based integration systems to incorporate digital transformation, which enables rapid growth of the IoT integration industry. Integration is useful to capture data from smart devices and move it into business applications to automate processes and apply analytics for insights. Furthermore, IoT integration is also beneficial to meet the rapidly growing competitive nature of the current market scenario of manufacturing, hospitality, retail, transportation, and logistics and energy, among others.

Increasing regulatory compliance, the need for high-speed data, and burgeoning BYOD and remote workplace management are the factors fuelling the market growth. However, data security and privacy concern hinder the market growth. The IoT integration market was valued at USD 0.8 billion in 2019 and is expected to grow with a CAGR of 33.1%.

Growth of BYOD and Remote Workplace Management

Over the past few decades, a significant increase is witnessed in terms of the adoption of BYOD and remote workplace management solutions. Enterprises are encouraging employees to bring their own devices to the office. This has enabled enterprises to reduce their cost by not spending on corporate devices and enables employees to work from home and use the device of their choice. This trend has paved the way for a common platform across all devices that incorporate various applications. Furthermore, to connect multiple devices, IoT integration services have emerged as an effectivesolution as they provide two-way and real-time communication between the devices and systems.

These platforms act on data locally, automate corrective responses, and store data on the cloud for better business insights. The growth in BYOD and remote workplace management has propelled the need to manage devices and assets in enterprises. For instance, in March 2017, Brunel University deployed the Cisco BYOD smart solution to create a flawless experience of BYOD for students and staff. The integration of BYOD has enabled access to a network of approximately 5800 devices.

IoT Integration Market: Segmentation

Device and Platform Management Services Segment to Dominate the Market during the Forecast Period

The device and platform management services segment dominates the market as they offer a wide variety ofservices, including remote monitoring, connectivity, and troubleshooting of heterogeneous devices. The platform also allows integrating, connecting, and managing the visibility across global IoT chains. Moreover, increasing adoption of automation across various industry verticals to meet the growing consumer demand drives the market growth. 

SMEs: Largest User of IoT Integration

SMEs are the fastest-growing segment in the market on account of the rapid adoption of IoT integration and cloud-based connectivity across different industry verticals, particularly manufacturing. Cloud-based services offer several benefits, including the reduction in infrastructure costs, high security, and better customer supports, further driving its adoption in the SMEs. Additionally, growing investment by governments to enhance the connectivity within the country propels the IoT integration market. For instance, in February 2020, the U.S. Department of Energy’s (DOE) Office of Electricity (OE) announced USD 6.7 billion in funding for four university-led research projects to design and develop approaches to integrate Internet of Things (IoT) technologies.

Increasing Pressure to Improve Operational Performance to Drive the Adoption of IoT Integration in the Manufacturing Sector 

Industrial manufacturing is the fastest-growing segment in the IoT integration market on account of the increasing pressure to improve operational performance and enhance production processes. Thus, the manufacturing sectors are adopting IoT solutions, sensors, and wireless connectivity to improve their operational efficiency. Moreover, IoT enabled services offer more comprehensive functions, which allows manufacturing sectors to track the assets, production, and supply chain line. Additionally, modification in FDI policies in several countries has surged the foreign investment in the manufacturing sector, further driving the market growth. For instance, in July 2020, Taiwan contract manufacturer Foxconn announced plans to invest USD 1 billion in a production facility in India.

Regional Overview

Robust Presence of SMEs to Drive North America’s Market Growth

North America dominates theIoT integration market on account of the surging numbers of IoT enabled devices across different industry verticals in the region. The presence of numerous vendors offering IoT enabled services, such as Cognizant, Intel Corporation, and Mulesoft, drive the market growth. Similarly, the robust presence of SMEs in the region has significantly surged the adoption of cloud-based services on account of budget constraints, further driving the market growth.

IoT Integration Market in Asia-Pacific to Witness the Fastest Growth

Asia-Pacific is the fastest-growing region in the IoT integration market on account of the rapid adoption of IoT based devices among various industrial verticalsand rising government initiatives in developing economies to enhance the connectivity drives the market growth. Additionally, increasing smartphone penetration in developing economies and various digital payment services provides an impetus to the market growth.

Key Players

  • Tata Consultancy Services Limited (India)
  • Wipro Limited (India)
  • ATOS SE (France)
  • Accenture PLC (Ireland)
  • Fujitsu Ltd. (Japan)
  • Infosys Limited (India)
  • Capgemini SE (France)
  • HCL Technologies Limited (India)
  • SoftDEL(the U.S.)
  • Tech Mahindra Limited (India)
  • Meshed (Australia)
  • Intel Corporation (the U.S.)
  • MuleSoft (the U.S.)
  • DXC Technology (the U.S.)
  • International Business Machines Corporation
  • Cognizant Technology Solutions Corporation
  • NTT Data Corporation (Japan)
  • Phitomas (Malaysia)
  • Allerin (the U.S.)

IoT Integration Market: Segmentation

By Service

  • Device and Platform Management Services
  • Application Management Services
  • Advisory Services
  • System Design and Architecture Services
  • Testing Services
  • Service Provisioning and Directory Management Services
  • Third Party API Management Services
  • Database and Block Storage Management Services
  • Network Protocol Management Services
  • Infrastructure and Workload Management Services

ByOrganization size

  • Small and Medium-Sized Enterprises (SMEs)
  • Large Enterprise

By Application

  • Smart Building and Home Automation
  • Smart Healthcare
  • Energy and Utilities
  • Industrial Manufacturing and Automation
  • Smart Retail
  • Smart Transportation, Logistics, and Telematics

ByRegion

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • The U.K.
  • Italy
  • France
  • Spain
  • Germany
  • The Rest of Europe

The Middle East and Africa (MEA)

  • Saudi Arabia
  • Egypt
  • South Africa
  • The Rest of MEA

Asia-Pacific

  • India
  • China
  • Japan
  • Australia
  • South Korea
  • The Rest of Asia-Pacific

South America

  • Columbia
  • Brazil
  • Chile
  • Peru
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