The global Internet of Things (IoT) integration market is projected to be valued at USD 8.21 Billion by 2027, according to a current analysis by Emergen Research. The global market for Internet of Things (IoT) integration is expected to expand significantly during the forecasted period, due to growing adoption of the ‘Bring Your Own Device trend’ in the modern business model. Rise in legal enforcement and regulations is anticipated to propel the market further during the forecast period. The Internet of Things (IoT) integration market is also driven by increasing federal regulators that promote the growth of data integration across different apps and devices worldwide.
However, the dearth of uniformity of procedures for Internet of Things (IoT) would hamper the Internet of Things (IoT) integration market during the forecast period.
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The leading market contenders listed in the report are:
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, Others
Key Highlights of Report
- In May 2020, Callisto Integration Corporation was acquired by Accenture plc. Callisto Integration Corporation, a consultancy and technology services company headquartered in Canada, offers automated production services to major players operating in food & beverage, chemical, utilities, and other sectors. Accenture would deliver a rare mix of production, infrastructure, and analytics capabilities with this acquisition.
- The small & medium enterprises segment is the largest segment of the market, likely to expand at a CAGR of 27.6% during the forecast period. It is essential that Internet of Things (IoT) is embedded into structures for expansion of small and medium enterprises and data is a key part of it. Insertion and analysis of Big Data analytics help small and medium businesses connect with customers efficiently, improving their efficiency, lowering running costs, testing decisions, and identifying trends.
- The device & platform management services segment is expected to dominate the market during the forecast period. It offers IoT makers a clear business edge and makes it easier to provide new devices effectively.
- During the forecast timeframe, the home automation & smart building segment is expected to dominate the market. Buildings with IoT integrated technology provide solutions to the issues, including excessive spending and inefficacy in building constructions.
- The Asia Pacific market is projected to witness growth at the most rapid pace, due to presence of major market players such as Tata Consultancy Services Limited, Infosys Limited, Tech Mahindra Limited, Wipro Limited, and HCL Technologies Limited in the region during the forecast period.
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Emergen Research has segmented the global Internet of Things (IoT) integration market on the basis of 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
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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
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
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