Dublin, Sept. 15, 2023 (GLOBE NEWSWIRE) -- The "Global IoT Integration Market by Service (Device & Platform Management, System Design & Architecture, Network Management, Advisory Services), Application (Smart Building & Home Automation, Smart Healthcare) and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The IoT integration market is on an upward trajectory, poised to expand from USD 3.2 billion in 2023 to an impressive USD 12.1 billion by 2028, indicating a remarkable Compound Annual Growth Rate (CAGR) of 30.8%.
IoT integration is a catalyst for the convergence of physical and digital realms, ushering in a new era of automation, data-driven insights, and enriched user experiences across diverse sectors.
This comprehensive market study delves into various IoT integration segments, aiming to estimate market size and growth potential based on service, organization size, application, and region. It includes an in-depth competitive analysis of key market players, offering insights into company profiles, noteworthy product and business offerings, recent developments, and key market strategies. The report spotlights the major vendors in the IoT integration solutions and services landscape.
IoT technology is a driving force behind digital transformation and innovation, penetrating a wide array of use cases and sectors. This enables organizations to bolster productivity, trim costs, overhaul and automate business processes, craft novel business models, and undergo profound shifts in their industries.
IoT integration services stand as a linchpin within a complete IoT architecture, essential for managing all devices, including sensors, actuators, tags, and cards, while empowering business applications for peak performance. These services amalgamate various technological solutions into a unified IoT suite, a concept that has empowered organizations across industry verticals to enhance operational efficiency and deliver top-notch customer service.
Notably, the Asia Pacific region is set to witness accelerated growth until 2028, driven by the rapid digitalization of enterprises throughout the region. Smart city initiatives, in particular, take the spotlight in Asia Pacific, with governments and cities actively implementing IoT technologies to revamp infrastructure, transportation, energy management, and public services, further propelling market expansion in the region.
Device and platform management services are integral components of the IoT integration market, focusing on the efficient and effective operation of IoT devices and the platforms that support them. The need to ensure seamless functioning and minimize disruptions will drive the segment's growth.
Application management services are instrumental in addressing the data retrieved from connected devices over networks and hosting applications. They also offer additional services, such as remote device management; data storage, monitoring, sharing, and management; and analytics. The application management services in the IoT integration market are driven by the need for optimized user experiences, security, scalability, and innovation.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 239 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $3.2 Billion |
| Forecasted Market Value (USD) by 2028 | $12.1 Billion |
| Compound Annual Growth Rate | 30.8% |
| Regions Covered | Global |
Premium Insights
- Proliferation of Connected Devices to Drive Market
- Device & Platform Management Services Segment and China Expected to Account for Significant Market Share in 2023
Market Overview and Industry Trends
Drivers
- Proliferation of Connected Devices to Encourage Byod and Remote Workplace Management
- Development of Wireless Technologies
- Need to Increase Operational Efficiency
- Maturing Partner Agreements of IoT Vendors
- Emergence of Ipv6
Restraints
- Lack of Standardization in IoT Protocols
Opportunities
- Growing Need to Align Management Strategies with Organizations' Strategic Initiatives
- Need for Reduced Downtime and Increased Operational Efficiency
- Increasing Demand for Automation in Business Processes
- Increasing Adoption of Ipaas
Challenges
- Data Security and Privacy Concerns
- Lack of Skills and Expertise
- Ecosystem
- Value Chain Analysis
Market: Use Cases
- Use Case 1: Retail
- Use Case 2: Healthcare
- Use Case 3: Government
- Use Case 4: Transportation and Logistics
Disruptions Impacting Buyers/Clients in IoT Integration Market
- Disruptive Technologies
- Edge Computing
- 5G
- Digital Twin
- Artificial Intelligence
- Regulatory Impact
Company Profiles
Major Players
- Accenture
- Dxc Technology
- Deloitte
- Atos
- Tcs
- Wipro
- Capgemini
- Fujitsu
- IBKM
- Cognizant
- Salesforce
- Ntt Data
- Infosys
- Hcl
- Tech Mahindra
- Dell Emc
- Damco
Startups/Smes
- Allerin
- Softdel
- Phitomas
- Einfochips
- Timesys
- Tibbo
- Aeris
- Macrosoft
- Meshed
For more information about this report visit https://www.researchandmarkets.com/r/dq3tbq
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