IoT Integration Market to grow at an Impressive Rate through 2026
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 market 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 market. 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 market. 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
integration 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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