IoT Integration Market by Service (Device & Platform Management Services, Application Management Services, Advisory Services, System Design & Architecture, Testing Services, Service Provisioning & Directory Management, Third Party API Management Services, Database & Block Storage Management Services, Network Management Services, and Infrastructure Workload Management Services), Enterprise Size (SMEs and Large Enterprises), End User (Smart Building and Home Automation, Smart Healthcare, Energy and Utilities, Industrial Manufacturing and Automation, Smart Retail, Smart Transportation Logistics and Telematics): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026890 | Pages: 100 | Industry: Technology, Media and Telecommunications | Date: Oct 2022 | Type: Global
The IoT integration market crossed US$ 2.10 billion mark in 2022 and is expected to hit US$ 18.27 billion by 2030, recording a CAGR of 31.1% during the forecast period.

Increased infusion of IoT into the retail industry is shooting lucrative opportunities for the IoT integration market\'s growth. The events connected to the pandemic can be used to explain why the retail sector has been seeing growth recently. For instance, from an average of 2 billion visitors per month in 2019 to 2.3 billion in 2020 and a record 2.8 billion in February 2021, saw an astounding increase in traffic. Changes in consumer behavior, heavy demand for delivery services, skepticism of online purchases, and a lack of digital proficiency are a few obstacles preventing vendors from succeeding in the IoT integration market where they could otherwise do so. However, the epidemic has forced merchants to reconsider their plans and quicken digitization, largely through integrating IoT solutions for retail, which is driving IoT integration market growth. The smart retail segment is expected to pace up with the rising application for the gathering of data & share of the same and driving conclusions based on information collected.

Within the report, the IoT integration market is segmented into services, enterprise size, end-user, and geography. By services, the IoT integration market is further segmented into 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, database and block storage management services, network management services, and infrastructure workload management services. Based on enterprise size, the IoT integration market is bifurcated into SMEs and large enterprises. By end-user, the IoT integration market is categorized into the smart building and home automation, smart healthcare, energy and utilities, industrial manufacturing and automation, smart retail, and smart transportation logistics and telematics. Geographically, the IoT integration market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

The continuing security challenges to act as the major driving force for the growth of the IoT Integration Market.

Unreliable passwords primarily cause security breaches on the Internet of Things. Most makers of Internet of Things (IoT) products preprogram default passwords into IoT devices without giving users the option to alter them. The same security issues still affect businesses, residents of smart homes, and smart cities. It is anticipated that IOT devices would soon support layered machine-to-machine verification as well as enhanced authentication with biometric logins. Machine learning and artificial intelligence will also aid the detection and prevention of data breaches.

Rising adoption across various industries is one of the major factors accelerating the IoT integration market growth.

Retail, healthcare, and manufacturing are majorly using IoT to facilitate their growth. Retail industries adopt IoT to improve inventory management, equipment tracking, and supply chain optimization. In the healthcare industry, IoT services are deployed to track medical devices and monitor patient\'s health situations in real-time. The manufacturing industries utilize IoT for enabling productivity, improving efficiency, and decreasing their operating expenses.

Recent strategic developments in IoT Integration Market

The IoT Integration market has undergone several significant developments, and a few of these have been mentioned below:

- In January 2022, to improve enterprise service operations, DXC Technology and ServiceNow teamed up to deliver market-leading, affordable, resilient technology services.

- In April 2022, after Accenture bought AFD TECH, the team\'s expertise combined with Accenture\'s Cloud First capabilities offered a wide range of tried-and-true methods, top-notch operations, and creative people.

The IoT Integration market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Accenture plc; Atos SE; Capgemini SE; Cognizant; and DXC Technology are among the prominent players operating in the IoT integration market.

Target audience for the report:

- IoT-related service providers

- IoT-related associations, organizations, forums, and alliances

- Government bodies, such as regulating authorities and policy makers

- Venture capitalists, private equity firms, and start-up companies

- Component suppliers

- IoT solutions and services distributors and sales firms

- End users of IoT solutions

- Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the IoT integration market has been segmented on the basis of:

- Service:

- 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,

- Database and block storage management services,

- Network management services,

- Infrastructure and workload management services

- Enterprise Size

- SMEs

- Large enterprises

- End user:

- Smart building and home automation,

- Smart healthcare,

- Energy and utilities,

- Industrial manufacturing and automation,

- Smart retail,

- Smart transportation, Logistics and telematics

- Region

- North America

- Europe

- Asia Pacific (APAC)

- South & Central America

- Middle East & Africa

- Companies profiled

- Accenture plc

- Atos SE

- Capgemini SE

- Cognizant

- DXC Technology

The List of Companies
- Accenture plc
- Atos SE
- Capgemini SE
- Cognizant
- DXC Technology
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