IoT Integration Market projected to reach USD 26.5 Billion by 2030, growing at a CAGR of 31.5% during the forecast period of 2023-2030 – says MarketDigits in its latest study

The Global IoT Integration Market was valued USD 3.9 Billion in 2023 and projected to reach USD 26.5 Billion by 2030, growing at a CAGR of 31.5% during the forecast period of 2023-2030

Richmond, Jan. 16, 2024 (GLOBE NEWSWIRE) — According to a research report “IoT Integration Market, by Service Type (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, Others), Organization Size (Large Enterprises, Small & Medium Enterprises), Industry Vertical (BFSI, Healthcare, Manufacturing, Energy and Utilities, Government and Defense, Automotive and Transportation, Retail and E-commerce, IT and Telecom, Others), and Region – Global Forecast to 2030.

Global IoT Integration Market Report Scope:

Report Details
Market size value in 2023 USD 3.9 Billion
Market size value in 2030 USD 26.5 Billion
CAGR (2023-2030) 31.5%
Forecast Period 2023–2030
Historic Data 2019
Forecast Units Value (USD Million/USD Billion)
Segments Covered Service Type, Organization Size, Industry Vertical and Region
Geographies Covered North America, Europe, Asia Pacific, and RoW
 
  • TCS Limited
 
  • Wipro Limited
Sample of Companies Covered
  • Atos SE
 
  • Accenture
 
  • Fujitsu Ltd.

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TOC Covers in Depth & Breath on IoT Integration Market
170 – Market Data Tables
65 – List of Figures
225 – Pages

The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.

Market Overview

The Internet of Things (IoT) Integration market is experiencing significant growth as businesses increasingly adopt interconnected technologies to enhance operational efficiency and drive innovation. This market revolves around the integration of diverse IoT devices, platforms, and applications to create seamless, intelligent ecosystems. The surge in IoT adoption across industries, including manufacturing, healthcare, and smart cities, is a key driver for the market’s expansion. Companies are leveraging IoT integration to streamline processes, gather real-time insights, and improve decision-making. Integration platforms and solutions play a crucial role in connecting disparate devices, ensuring data interoperability, and facilitating communication between IoT components. As the demand for comprehensive IoT solutions continues to rise, the market is poised for sustained growth, offering opportunities for technology providers to deliver scalable, secure, and interoperable integration solutions that empower businesses to harness the full potential of the IoT landscape.

Major Vendors in the Global Iot Integration Market:

  • TCS Limited
  • Wipro Limited
  • Atos SE
  • Accenture
  • Fujitsu Ltd.
  • Infosys Limited
  • Capgemini
  • HCL Technologies Limited
  • Tech Mahindra Limited
  • DXC Technology
  • IBM Corporation
  • Cognizant
  • NTT Data Corporation
  • Dell EMC
  • Deloitte
  • Salesforce
  • Allerin Tech Pvt Ltd
  • Softdel
  • Phitomas
  • eInfochips
  • Timesys Corporation
  • Tibbo Systems
  • Aeris
  • Macrosoft Inc.
  • Damco
  • Meshed

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The rapid development of wireless technologies

The rapid evolution of wireless technologies has emerged as a formidable driver propelling the growth of the Internet of Things (IoT) Integration Market. The advent of 5G technology, in particular, has ushered in a new era of connectivity, offering higher data speeds, lower latency, and increased capacity. This enhanced wireless infrastructure enables seamless communication and data exchange between IoT devices, fostering a more interconnected and efficient ecosystem. Moreover, the proliferation of wireless protocols such as Bluetooth, Zigbee, and Wi-Fi further facilitates the integration of diverse IoT devices into unified networks. This connectivity surge has spurred innovation across industries, from smart homes and cities to industrial automation and healthcare. The flexibility and scalability provided by wireless technologies empower businesses to deploy and manage extensive IoT ecosystems, driving the demand for integrated solutions. As organizations increasingly recognize the transformative potential of IoT, the wireless advancements catalyze the expansion of the IoT Integration Market, unlocking new possibilities for connected and intelligent systems.

Market Dynamics

Drivers:

  • The rapid development of wireless technologies
  • Growing government regulators that support the growth of data integration with various devices

Opportunities:

  • Industry 4.0 Adoption
  • Smart Cities Development

Industry 4.0 Adoption

The widespread adoption of Industry 4.0 presents a significant opportunity for the IoT Integration Market. Industry 4.0, characterized by the integration of digital technologies into manufacturing processes, relies heavily on the seamless connectivity and data exchange that IoT integration provides. As industries embrace smart factories, automated processes, and data-driven decision-making, the demand for efficient integration of diverse IoT devices intensifies. IoT integration becomes a linchpin in harnessing the full potential of Industry 4.0, facilitating the synchronization of sensors, machines, and systems. This convergence enables real-time monitoring, predictive maintenance, and enhanced operational efficiency. As businesses across sectors recognize the transformative impact of Industry 4.0 on productivity and competitiveness, the IoT Integration Market stands poised to capitalize on this opportunity, offering solutions that streamline the convergence of physical and digital technologies, paving the way for a more interconnected and intelligent industrial landscape.

The market for IoT Integration is dominated by North America.

North America stands as the dominant force in the IoT Integration market, with the region exhibiting a robust ecosystem for the integration of Internet of Things technologies. The United States, in particular, plays a pivotal role, contributing significantly to the market’s dominance. The country’s advanced infrastructure, substantial investments in research and development, and a thriving tech industry have fostered an environment conducive to IoT integration. The U.S. leads in IoT spending, with a substantial share of the global market. Additionally, Canada contributes to the region’s dominance, with its growing emphasis on IoT adoption across various industries. The North American market benefits from a high level of awareness, early technology adoption, and strategic collaborations between technology providers and industries, positioning the region at the forefront of IoT Integration market leadership.

The Healthcare Industry Segment is Anticipated to Hold the Largest Market Share During the Forecast Period

Based on Industry Vertical the IoT Integration market is segmented into BFSI, Healthcare, Manufacturing, Energy and Utilities, Government and Defense, Automotive and Transportation, Retail and E-commerce, IT and Telecom, Others. The Healthcare Industry Vertical stands out as a dominant segment in the IoT Integration market, showcasing a substantial impact on the industry’s transformation. The integration of Internet of Things (IoT) technologies within healthcare has proven instrumental in enhancing patient care, optimizing operations, and fostering innovation. IoT Integration facilitates the seamless connection and interoperability of diverse medical devices, wearables, and health monitoring systems. This connectivity enables real-time data collection, remote patient monitoring, and predictive analytics, empowering healthcare providers to deliver more personalized and efficient services. Moreover, the integration of IoT in healthcare supports the development of smart hospitals and healthcare ecosystems, improving overall operational efficiency and patient outcomes. The demand for integrated solutions in healthcare is on the rise, driven by the need for streamlined workflows, improved diagnostics, and cost-effective healthcare delivery. As the healthcare industry continues to prioritize digital transformation, the IoT Integration market experiences sustained growth, driven by the pivotal role it plays in revolutionizing healthcare services and systems.

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