The GMI Research's latest analysis reveals that the IoT Integration Market is slated to register a significant CAGR over the forecast period. This is attributed to the improved economic conditions, rapid urbanization, rising automation technologies in several verticals, and introduction of automation technologies.

Dublin, Ireland -- (SBWire) -- 03/16/2021 --IoT Integration Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)

Key Drivers

The rising automation technologies in several verticals globally is a major factor contributing to the growth of the IoT integration market size. Currently, improved economic conditions, rapid urbanization, and the introduction of automation technologies are creating various growth opportunities for smart buildings and home automation. Around 15% of households around the world are estimated to have installed a smart home device by the end of 2023. In emerging countries, the requirement for automated solutions in several industries, such as construction, retail, transportation, and other industries, is growing at a noteworthy rate. Governments worldwide are increasingly emphasized on the infrastructure that is energy effective. With the rapid development of smart cities gaining exceptional momentum at a global level, the demand for smart elevators has increased. In addition to this, the rate of investment in IoT technology is rapidly growing. It is projected by 2011, the IoT expenditure will total about US $1.4 trillion. Various players in several end-use verticals that include smart healthcare, smart retail, industrial automation, smart building & home automation, smart transportation & logistics, and energy & utility are aiming at introducing IoT to establish a stronger foothold in the market. On the other hand, the lack of standard protocols are will hinder the growth of the IoT integration market in the coming years.

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IoT Integration Market's leading Manufacturers:

- Accenture plc
- ATOS SE
- DXC Technology
- IBM Corporation
- Deloitte Touche Tohmatsu Limited
- Tata Consultancy Services
- Wipro Limited
- Cognizant
- Capgemini SE
- Infosys Limited

Application Segment Drivers

The device & platform management services are projected to hold the largest market share in the global IoT integration market based on the service. The device management services provide the IoT vendors a competitive market edge and efficiently launch new devices and associated services. These services help manage the devices cost-effectively by offering remote monitoring & support facilities with the help of IoT integration services. The device management services assist enterprises in managing, tracking, secure, and sustain several IoT-enabled devices.

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Application Segment Drivers

Large enterprises hold the largest market share in the global IoT integration market based on the enterprise size. However, SMEs are projected to garner the fastest growth rate over the forecast period. The rapid growth of SMEs and various government initiatives to support small businesses is fuelling the market growth.

IoT Integration Market Segmentation:

Segmentation by Service:

- Device & Platform Management Services
- Application Management Services
- Advisory Services
- System Design & Architecture Services
- Testing Services
- Others

Segmentation by Enterprise Size:

- SMEs
- Large Enterprises

Segmentation by Application:

- Smart Retail
- Smart Building & Home Automation
- Smart Healthcare
- Energy & Utility
- Industrial Automation
- Smart Transportation & Logistics

Segmentation by Region:

- North America

o United States of America
o Canada

- Asia Pacific

o China
o Japan
o India
o Rest of APAC

- Europe

o United Kingdom
o Germany
o France
o Spain
o Rest of Europe

- RoW

o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)

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