Vancouver, Nov. 08, 2023 (GLOBE NEWSWIRE) -- The global Internet of Things (IoT) integration market is projected to reach value of USD 27.55 Billion by 2032, according to a current analysis by Emergen Research. During the forecast timeline, the global Internet of Things (IoT) integration market is anticipated to expand rapidly due to the increasing demand for data accuracy among several industries as well as the rising requirement to fit organizational practices with the organizational strategy. Moreover, rise in the IPAAS adoption for stable, efficient cloud integration is likely to augment the Internet of Things (IoT) integration market during the forecast period. An iPaaS enables companies and businesses to incorporate various business processes and IoT projects and gain advanced automation functionality. It can control Internet of Things (IoT) resources from the APIs, and this is, effectively, one of all iPaaS' standard functions.
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However, issues regarding data protection and privacy are anticipated to hinder the Internet of Things (IoT) integration market to a certain extent during the forecast timeline.
Segments Covered in Report
| Report Details | Outcome |
| The market size in 2019 | USD 1.29 Billion |
| CAGR (2023–2032) | 27.4% |
| The revenue forecast in 2032 | USD 27.55 Billion |
| Base year for estimation | 2019 |
| Historical data | 2016–2018 |
| Forecast period | 2023–2032 |
| Quantitative units | Volume in tons, revenue in USD Thousand, and CAGR from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Organization, service, application, and region |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; Mexico; U.K.; Germany; France; BENELUX; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey |
| Key companies profiled | 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, and HCL Technologies Limited |
| Customization scope | 10 hours of free customization and expert consultation |
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MAJOR COMPANIES and Market Share Analysis
The market for Internet of Things (IoT) integration is fragmented, with a significant number of large- and medium-sized players accounting for a significant share of the global market. Key market players are well-equipped with significant manufacturing resources and are also engaged in various research and development activities. Some of the top players in the Internet of Things (IoT) integration market 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
In October 2020, SALT Solutions AG was acquired by Accenture plc. SALT Solutions builds and operates infrastructure structures for operations, production and distribution at the leading German automobile, manufacturing, consumer goods, and chemical industries. With over 500 technical experts, Accenture is part of the Industry X practice of extending Accenture's digital growth, processes, and supply chain industry in Germany.
In October 2020, Bright Wolf was acquired by Cognizant Corporation, a North Carolina-based IC consulting company focusing on IT products and services for the industrial Internet. Incorporating the expertise of Bright Wolf’s in production-class Industrial IoT (IIoT) installations with its know-how in simple Industrial IoT (IIoT) technology, the Cognizant Corporation would boost its operating performance and gain a competitive edge.
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Key Highlights of Report
- In February 2019, HCL Technologies Limited introduced iCE.x to deliver smart IoT system control to telecommunications and media services companies, which is expected to strengthen the company's presence in the market in the near future
- The large enterprises segment is expected to be witnessing substantial growth at a CAGR of 27.3% during the forecast period. Benefits of incorporation of Internet of Things (IoT) for large companies, such as increased asset usage, enhanced competitiveness, real-time analytics, and operational efficiency, have led to growth of the segment.
- During the forecast period, the third-party API management services segment is anticipated to experience steady growth. Wide API usability is shaping Internet of Things (IoT) implementations that cover a range of application domains.
- During the forecast period, the smart healthcare segment is expected to register the most rapid growth rate. Internet of Things (IoT) can enhance the patient care process with the help of clinical mobility technologies and other technical developments and next-generation healthcare systems.
- During the forecast period, North America is estimated to lead the global Internet of Things (IoT) integration market. North America is a major contributor to the global market, as the region is technically advanced, and several government projects, such as smart grids, are being introduced in the region.
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Emergen Research has segmented the global Internet of Things (IoT) integration market on basis of organization, service, application, and region.
- Organization Outlook (Revenue, USD Billion; 2019–2032)
- Small & Medium Enterprises
- Large Enterprises
- Service Outlook (Revenue, USD Billion; 2019–2032)
- 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
- Application Outlook (Revenue, USD Billion; 2019–2032)
- Smart Retail
- Energy & Utilities
- Smart Healthcare
- Smart Logistics & Transportation
- Home Automation & Smart Building
- Industrial Manufacturing Automation
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- 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
- North America
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