The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
Global Internet of Things (IoT) Integration market was valued at $XX million in 2018 and is estimated to generate net revenue of approximately $XX million by 2027, rising at a CAGR of 35.03% during the forecast period 2019-2027. With the proliferation of IoT & connected devices coupled with changing the industrial & commercial landscape, the need for IoT integration services has grown invariably.
Increased adoption of Bring Your Own Device (BYOD) & remote workplace management is expected to be the key reason that is positively influencing the growth of the global IoT integration market. Increasing adoption of BYOD culture has added values to organizations as it allows the employees to access emails, business data & databases on their personal devices such as smartphones & laptops, which can help companies to cut their hardware & service costs.
Though the IoT Integration market has numerous growth drivers, market growth is curtailed by certain challenges. Data security & privacy concerns & lack of standards for interconnectivity & interoperability are factors that are delaying the market growth. Rising data security & privacy concerns are lowering the adoption of IoT which is hindering the global IoT integration market.
Region wise, the market is fragmented into Europe, Asia-Pacific, North America, and the remaining countries constitutively formed the Rest of World regional segment. The Asia Pacific region is showing significant development due to government initiatives like “Made in China 2025” and “Digital India.” These initiatives are aimed at comprehensively emphasizing on intelligent manufacturing that refers to the use of information technology in production.
The region of North America, however, dominated the global market in 2018. Its market growth is chiefly driven by increasing digitalization, the emergence of smart cities, and growing Industrial Internet of Things (IIoT).
Capgemini SE, Softdel, Intel Corporation, Cognizant Technology Solutions Corporation, Ayla Networks Inc., Deloitte Touche Tohmatsu Limited, Allerin, Accenture PLC, Tibbo Systems, Phitomas, HCL Technologies Limited, Smartbear Software Inc. (acquired by Francisco Partner), International Business Machines Corporation (IBM), Meshed Group, ATOS SE, Tech Mahindra Limited, Mulesoft Inc., Infosys Limited, Wipro Limited, Tata Consultancy Services Limited (TCS), and NTT Data Corporation are some of the players engaged in this market.