Rising preference for wireless technologies and digitalization is expected to drive the demand for global IoT integration market in the forecast period.
According to TechSci Research report, “Global IoT Integration Market By Service (Device and Platform Management Services, Application Management Services, Advisory Services, System Design and Architecture and others), By Application (Smart Building and Home Automation, Smart Healthcare, Energy and Utilities, Industrial Manufacturing and Automation, Smart Retail, Smart Transportation, Logistics, and Telematics), By Organization (SMEs, Large Enterprises) By Company, By Region, Forecast & Opportunities, 2026”, global IoT integration market is expected to witness significant growth for the next five years owing to rise in demand for automated products in residential as well as commercial spaces for convenience, security and customer satisfaction. Rise in disposable income among middle class families is creating new avenues for the global IoT integration growth. Computational power of IoT aids in doing multiple functions at a fast pace. An integrated platform at workplace gives access to employee’s web activities and aids in monitoring data for unwanted authorization. Enhanced visibility and better control over workplace are the major drivers for the global IoT integration market.
However, privacy concerns and data security may create hindrance in the global IoT integration market growth.
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Global IoT integration market is segmented into service, application, organization, region, and company. Based on service, market is segmented into device and platform management services, application management services, advisory services and system design and architecture. Device and platform management services is expected to dominate the market for the forecast period due to their ability to improve performance of the business operations and reduce overall operational and maintenance expenses. These services aids in remote monitoring and management of smart devices. Also, it provides support facilities with integration of internet of things services. Device and platform management assists in connected smart devices management, in addition with tracking and providing security. On organization analysis, market is bifurcated into SMEs and large enterprises. SMEs are anticipated to hold major market share throughout the forecast period, 2022-2026. Flexibility to adopt emerging technology, quick customer response and need to automate business are the most promising factors for the market growth. IoT integration helps in SMEs business growth by providing centralised monitoring console, monitoring system and reliable security to cut down the additional costs.
Fujitsu Ltd, Tech Mahindra Limited, HCL Technologies, DXC Technology Company, NTT Data Corporation, MuleSoft, Inc., Tibbo Technology Inc., Timesys Corporation, Accenture, Inc., Tata Consultancy Services Ltd are the leading players operating in global IoT integration industry. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several IoT integration manufacturers are coming up with their technologically advanced offerings.
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“Digitalization across the globe in addition with government initiatives for improved connectivity and better consumer service is expected to accelerate the global IoT integration market growth. Use of IoT in smart cities is predicted to be significant factor for growth of global IoT integration. Increasing application of IoT integration in plethora of end-user industries including healthcare, manufacturing sector, energy sector among others is influencing the global IoT integration market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global IoT Integration Market By Service (Device and Platform Management Services, Application Management Services, Advisory Services, System Design and Architecture and others), By Application (Smart Building and Home Automation, Smart Healthcare, Energy and Utilities, Industrial Manufacturing and Automation, Smart Retail, Smart Transportation, Logistics, and Telematics), By Organization (SMEs, Large Enterprises) By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of global IoT integrations market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global IoT integration market.
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