According to the new market
research report “Internet of Things (IoT) Integration Market by Service (Device and
Platform Management, System Design and Architecture, Advisory Services),
Organization Size, Application Area (Smart Healthcare, Smart Retail), and
Region - Global Forecast to 2022", The global IoT integration services
market size is expected to grow from USD 759.5 Million in 2017 to USD 3,301.7
Million by 2022, at a Compound Annual Growth Rate (CAGR) of 34.2%.
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The major forces driving the growth of the IoT
integration services market include the growth of the Bring Your Own Device
(BYOD) trend and the need for remote workplace management. Moreover, the
increasing demands for data consistency and growing regulatory compliances and
regulations are also some of the factors that are driving the market growth.
The system design and
architecture services segment is expected to be the fastest growing service in
the IoT integration services market during the forecast period.
System design and architecture services involve the
analysis, design, and configuration of the software components that support the
system architecture. System design engagement typically provides advice for
sizing of new systems and scaling of existing systems. It provides improved
system performance, offers tailored configuration advice, and monitors the
capability usage of system resources. Service providers also design and offer
customized services as per client requirement and budget. These customized services
help manage business workflows and improve business efficiency for commercial
customers.
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The smart building and home automation application
area is expected to hold the largest market share in the IoT integration
services market during the forecast period.
Smart buildings comprise energy-saving equipment for
the efficient functioning of all components and systems of a building,
including lighting, monitoring, safety and security, emergency systems,
heating, ventilation and air conditioning systems, and car parking. The concept
of smart buildings has gained prominence due to the increasing adoption of IoT
solutions and services. IoT-enabled smart buildings offer enhanced features
such as operations personalization, in-building device mobility, occupant
comfort, and indoor activities automation. IoT home automation systems utilize
control systems and smart devices to automatically control and manage basic home
functions over the internet from any location.
North America is expected to have the largest market
share in the IoT integration market during the forecast period.
North America is expected to hold the largest market
share and dominate the IoT integration market during the forecast period. The
region has the presence of major sustainable and well-established economies who
invest substantially in Research and Development (R&D) activities, thereby
contributing to the development of new technologies. The early adoption of
trending technologies such as IoT, big data, DevOps, and mobility has boosted
the overall growth of the IoT integration market in North America. Moreover,
North America is technologically developed and a number of government
initiatives have been adopted in the region. Smart cities, Industrial Internet
of Things (IIoT), and digitalization are also fueling the growth of the IoT
integration services market in the North American region. Data driven
enterprises in North America are adopting IoT-based systems over legacy
systems. IoT integration services play a vital role in integrating and managing
the interoperability between new systems and legacy systems.
The major vendors
in the IoT integration services market include Infosys (India), HCL (India),
TCS (India), Capgemini (France), and Cognizant (US), Wipro (India), Atos SE
(France), Intel Corporation (US), MuleSoft (US), SoftDEL (US), Phitomas
(Malaysia), Meshed (Australia), and Allerin (US).
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