Mar 30, 2020 (AB Digital via COMTEX) -- Competitive Dashboard
Tata Consultancy Services Limited (India), ATOS SE (France), Wipro Limited (India), Accenture PLC (Ireland), Infosys Limited (India), Fujitsu Ltd. (Japan), Capgemini SE (France), SoftDEL (US), HCL Technologies Limited (India), Tech Mahindra Limited (India), Intel Corporation (US), Meshed (Australia), MuleSoft (US), International Business Machines Corporation (US), DXC Technology (US), Cognizant Technology Solutions Corporation (US), Phitomas (Malaysia), NTT Data Corporation (Japan), and Allerin (US) are few of the important players operative in the global IoT integration market.
These players are leveraging new technologies to stay ahead of the curve. In the process, innovations are being brought into the market that is likely to intensify competition as well as market growth. In addition, some of the common growth strategies that are opted for by these players are – mergers & acquisitions, technological developments, strategic alliances, collaborations, partnerships, and agreements, among others. Presently both international and domestic players have flocked the landscape of the global IoT integration market. New players are anticipated to enter this market, which is further supposed to augment the market size in the foreseeable future.
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The global IoT integration market 2020 is supposed witness rapid developments. Rising adoption of Internet of Things (IoT) is presumed to drive the growth of the market in the foreseeable future. Efforts directed towards digitization of business processes are anticipated to catapult the market on growth trajectory. According to the observation provided by Market Research Future (MRFR), the global IoT integration market is supposed to expand at 32.06% CAGR across the review period 2018 to 2023. The observation further estimates that the IoT integration market size will reach USD 4,066.79 Mn by 2023, increasing from USD 778.4 Mn in 2017.
The rising adoption of the ongoing trend of BYOD (Bring Your Own Device) has boosted demand for IoT integration. Also, the growing need for data consistency is projected to accelerate revenue creation in the IoT integration market in the upcoming years. Governments are issuing regulations to increase compliance standards. It is anticipated to influence the IoT integration industry favorably across the forecast period. The growing popularity of smart technologies is also projected to catalyze growth rate of the IoT integration market. New products and advancing technologies are expected to further drive the growth rate of the global market place.
On the basis of services, the IoT Integration Market has been segmented into device and platform management, advisory services, system design and architecture, database & block storage management, third party API management services, application management services, and others.
On the basis of organization size, the IoT integration market has been segmented into large enterprises, and, small and medium enterprises (SMEs).
On the basis of application, the IoT integration market has been segmented into energy & utilities, smart healthcare, smart building, smart retail, and smart transportation.
The geographic evaluation of the global IoT integration market is included for providing an in-depth market intelligence. The regional segments covered for the purpose are as follows - North America, Asia-Pacific, Europe, and the rest of the world. The regional segments covered are then narrowed down to offer a country-level assessment of the IoT integration market. During the forecast period, as per this MRFR IoT integration research report, North America is supposed to dominate the market. It can be credited to the region’s technical brilliance and penchant for early adoption of technologies. Europe is also anticipated to grow and exhibit similar trends. Technological developments in the region are supposed to support the augmentation of the IoT integration market. It is poised to grow at a substantial CAGR in the coming years. APAC is also expected to thrive on account of the growth of the IT industry in the region.
LIST OF TABLES
Table 1 Global IoT Integration Market, By Region, 2019–2023
Table 2 North America: IoT Integration Market, By Country, 2019–2023
Table 3 Europe: IoT Integration Market, By Country, 2019–2023
Table 4 Asia-Pacific: IoT Integration Market, By Country, 2019–2023