USD 5.16 billion
IoT Integration Market Size, Share, Growth Analysis, By Service Type,,(Device and Platform Management, Connectivity Management, Application Enablement, Business Process Management), By Organization Size(Small and Medium-sized Enterprises (SMEs), Large Enterprises), By Application(Smart Manufacturing, Smart Healthcare, Smart Retail, Smart Transportation), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45B2098 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|Tables:
94
|Figures:
76
IoT Integration Market Insights
Global IoT Integration Market size was valued at USD 5.16 billion in 2022 and is poised to grow from USD 6.99 billion in 2023 to USD 78.93 billion by 2031, growing at a CAGR of 35.40% during the forecast period (2024-2031).
In recent years, the global Internet of Things (IoT) Integration marketplace is marked via extensive increase pushed by using the increasing adoption of IoT answers across various industries. Organizations are embracing IoT integration services to attach, manage, and derive meaningful insights from a myriad of IoT devices. The call for for seamless interoperability and efficient records management fuels the market, main to the combination of IoT with present IT systems. Key drivers include the pursuit of operational efficiency, real-time information analytics, and the potential for innovation in diverse sectors.
However, demanding situations consisting of safety issues, interoperability issues, and the complexity of integrating numerous IoT devices pose restraints. The market is characterised via a competitive panorama, with players supplying quit-to-stop integration solutions, platform-agnostic tactics, and enterprise-particular understanding. As IoT applications hold to extend, the global IoT Integration marketplace is poised for non-stop increase, driven with the aid of the transformative impact of interconnected devices on enterprise operations and client reports.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Device and Platform Management
Fastest Growth
Device and Platform Management
Growth Rate
35.40% CAGR
Global IoT Integration Market ($ Bn)
Country Share for North America Region (%)
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IoT Integration Market Segmental Analysis
The global IoT Integration market is segmented into four major segments i.e. by By Service Type, Organization Size, Application, and region. Based on Type, it is divided into Device and Platform Management, Connectivity Management, Application Enablement, Business Process Management, Consulting and System Designing. Based on Organization Size, it is bifurcated as Small and Medium-sized Enterprises (SMEs), Large Enterprises. Based on Application it is segregated into, Smart Manufacturing, Smart Healthcare, Smart Retail, Smart Transportation, Smart Utilities, Others. Based on region, the market is segmented into United States, Canada, and Mexico.
Analysis by Type
Connectivity Management have commonly held a considerable market percentage because of the proliferation of IoT gadgets, there's a large want for powerful connectivity management to make certain seamless verbal exchange among gadgets and systems. Connectivity control is foundational for permitting devices to change information, making it a important factor within the IoT atmosphere.
Organizations increasingly more understand the fee of extracting significant insights from IoT information. Application enablement offerings, which recognition on deriving actionable intelligence from IoT records, are in excessive call for. As companies integrate IoT into center commercial enterprise approaches, there may be a developing want for offerings that allow packages to harness the entire capability of IoT-generated data.
Analysis by Application
IIoT applications are vital for enhancing operational efficiency in manufacturing, logistics, and other business sectors. IoT integration in industrial tactics leads to streamlined operations and improved productiveness. The capacity of IIoT to permit predictive maintenance, reducing downtime and optimizing asset utilization, positions it as a dominant utility section.
The boom of IoT integration in healthcare is pushed by means of applications which includes far flung affected person tracking, improving patient care and lowering clinic visits. The growing adoption of IoT devices in healthcare, which includes wearables and connected medical gadgets, contributes to the fast boom of IoT integration in the healthcare zone.
Global IoT Integration Market By Type
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IoT Integration Market Regional Insights
North America, in particular the United States, has a history of early adoption of superior technologies. The location's tech-savvy agencies are brief to combine IoT solutions, driving the overall IoT Integration marketplace. Robust IT infrastructure, coupled with a excessive degree of digitalization throughout industries, positions North America as a dominant place for IoT Integration.
Countries inside the Asia-Pacific region, along with China, India, and Southeast Asian countries, are undergoing rapid virtual transformation. This transformation includes a surge in IoT adoption and integration. The business sectors in Asia-Pacific are more and more embracing IoT for operational performance, contributing to the rapid increase of IoT Integration inside the location.
Global IoT Integration Market By Region
- Largest
- Fastest
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IoT Integration Market Dynamics
Drivers
Increasing Pursuit Of Operational Efficiency
- The pursuit of operational performance, with groups in search of integrated answers to connect and manipulate numerous IoT gadgets. The developing significance of actual-time records analytics and actionable insights fuels the demand for integration offerings, allowing corporations to harness the overall capability of IoT-generated statistics.
Restraints
High Complexity Associated With Integrating Diverse Iot Devices
- One of the main market restraints is the complexity related to integrating numerous IoT gadgets and platforms. The substantial array of IoT technology, protocols, and standards poses demanding situations in achieving seamless interoperability, making integration a daunting project for corporations. Security concerns also act as a restraint, with the interconnected nature of IoT systems providing ability vulnerabilities and privacy issues.
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IoT Integration Market Competitive Landscape
The aggressive surroundings of the IoT Integration market is dynamic and is characterized by a various array of gamers vying for market proportion in this hastily evolving zone. Key contributors encompass set up IT provider vendors, machine integrators, and IoT platform carriers offering complete integration solutions. Major technology corporations make contributions to the competitive ecosystem, leveraging their know-how in connectivity, cloud computing, and analytics.
Top Player’s Company Profiles
- Microsoft
- Cisco Systems
- Accenture
- TCS Limited
- Wipro Limited
- Infosys Limited
- Atos SE
- Capgemini
- Cognizant Technology Solutions Corp
- HCL Technologies Ltd
- Tech Mahindra Limited
- Dell Technologies
- SAP SE
- Fujitsu Ltd.
- Bosch Rexroth
- Software AG
- PTC Inc.
Recent Developments
- September 2023: KORE Group Holdings, Inc. (NYSE: KORE, KORE WS), a leading IoT Solutions and international IoT CaaS participant, announced that it has publicly uncovered the completion of an important agreement to obtain Twilio’s unit company for all-inclusive responsibilities in Internet of Things.
- January 2023: Cognizant has signed an agreement to purchase Mobica, a Manchester based IoT software program engineering offerings provider. Mobica outshines in a variety of areas during the stages of software life cycle which includes comprehending inside development, implementation, testing and deployment embedded softwares.
IoT Integration Key Market Trends
- Rising Adoption Of Edge Computing For Iot Integration: The increasing use of edge computing for IoT Integration where actual-time records are processed in real time and latency is reduced. Other strong trends include the rise of AI and device gaining knowledge in connection with IoT Integration which enable advanced analytics as well as predictive insights. Cloud-based IoT Integration structures are on the rise, providing scalability and flexibility.
IoT Integration Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Global IoT Integration marketplace evaluation well-knownshows a dynamic marketplace with a number of standout developments and problems. The marketplace is driven by way of the escalating want for seamless connectivity across numerous IoT gadgets, fostering operational performance and actual-time data analytics. However, complexity in device integration poses a giant restraint. Dominated by using part computing and AI integration trends, the marketplace sees a surge in cloud-based totally structures and enterprise-precise answers. North America leads in early technology adoption, while the Asia-Pacific vicinity reviews fast increase in IoT integration, propelled by using digital transformation projects. Overall, the market strives for interoperability, scalability, and more suitable protection, shaping a competitive landscape pushed by using strategic partnerships and revolutionary service services.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 5.16 billion |
| Market size value in 2031 | USD 78.93 billion |
| Growth Rate | 35.40% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on IoT Integration Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on IoT Integration Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the IoT Integration Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the IoT Integration Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the IoT Integration Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the IoT Integration Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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