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IoT Integration Market: Introduction

  • IoT integration means the combination of IoT data, IoT platforms, IoT devices, and IoT applications with IT assets (legacy data, SaaS, mobile, and business application) that work together in the context of executing end-to-end IoT business solutions.
  • IoT integration helps customers and companies to drive the digital transformation initiative to the next level. Since technology is changing day by day, integration needs to move at an accelerated level and speed.
  • IoT integration uses web-enabled smart devices that use embedded systems, such as sensors, processors, and communication hardware, to send, collect, and act on data obtained from the system.
  • IoT integration helps to transform ordinary devices such as billboards, and vending machines into smart connected devices. Companies are typically more flexible in using innovative technologies, such as cloud, IoT, and analytics. IoT integration helps to take quick decisions. The huge demand for IoT integration systems in different industries such as healthcare, retail, and logistics is expected to boost the market during the forecast period.
iot integration market size and forecast

IoT Integration Market: Dynamics

IoT Integration Market: Key Drivers

  • Companies are adopting advanced technologies such as Artificial Intelligence/Machine Learning, cloud services, and IoT for achieving digital transformation. IoT Integration systems use the internet to connect to physical devices. The expansion of IoT has increased the acceptance of Bring Your Device (BYOD) and remote workplace management solutions. The integrated platform helps companies track employee activities on their devices to detect web activities and monitor the data daily.
  • IoT integration helps the company to reduce operating costs, increase revenue and improve efficiencies. The IoT device deployment delivers the insights and data necessary to visualize usage patterns, streamline workflows, meet compliance requirements and automate processes and compete more effectively in a changing business environment
  • IoT integration service suppliers can provide services and integrated solutions to support the integration strategy and data management with the organization's strategic initiatives to reach overall efficiency by deploying IoT data maturity or information management models.
  • IoT-enabled devices connect with various networks, such as public Wi-Fi, and WANs. So a networking team that works on cybersecurity and data privacy is needed to adopt IoT integration across different industries.
iot integration market growth trend

Impact of COVID-19 on the IoT Integration Market

  • An increase in cases of COVID-19 across the globe is resulting in economic slowdown. Developed countries are strongly affected by the pandemic. COVID-19 has a negative impact on the IoT integration market, as companies are decreasing their investment in new technologies and services to sustain themselves in the competition. The market is expected to expand in the next few years, as companies start making a profit to recover from the economic downturn associated with COVID-19.  

North America to Hold Major Share of the IoT Integration Market

  • In terms of region, the global IoT integration market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
  • North America dominated the global IoT integration market and held a notable share primarily due to the presence of developed economies, such as the U.S. and Canada. Moreover, North America is anticipated to offer considerable opportunities for players in the region with increasing awareness regarding the use of IoT integration systems for security purposes.
  • The global IoT integration market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period. Developing countries are mostly focused on the adoption of new technologies, and countries such as India, China, and Japan are planning to invest in IoT integration solutions.
iot integration market size by competition landscape

Key Players Operating in Global IoT Integration Market

  • Wipro Limited

Wipro Limited was incorporated in 1945 and is headquartered in Bengaluru, India. The company provides comprehensive IT services and solutions, including information system outsourcing, system integration, package implementation, IT-enabled services, software application maintenance and development, and R&D services to corporations globally.

  • Tata Consultancy Services Limited

Tata Consultancy Services Limited was incorporated in 1968 and is headquartered in Mumbai, India. The company provides a wide range of IT products and services to its clients in multiple industries, catering to telecommunication, finance and banking, insurance, manufacturing, retail, pharmaceutical, and utility industries.

Other key players operating in the IoT integration market include Atos SE, Accenture PLC, Fujitsu Ltd., Infosys Ltd., Capgemini SE, HCL Technologies Limited, Tech Mahindra Limited, DXC Technologies, International Business Machines Corporation, NTT DATA Corporation, TIBBO Systems, Aeries, Microsoft Corporation, Damco Group, and Softdel Systems Pte. Ltd.

IoT Integration Market: Research Scope

IoT Integration Market, by Services

  • Device and Platform Management Services
  • Application Management Services
  • Advisory Services
  • System Design and Architecture
  • Testing Services
  • Service Provisioning and Directory Management
  • Third Party API Management Services
  • Database and Block Storage Management Services
  • Network Management Market
  • Infrastructure and Workload Management Services

IoT Integration Market, by Application

  • Smart Building and Home Automation
  • Smart Healthcare
  • Energy and Utilities
  • Industrial Manufacturing and Automation
  • Smart Retail
  • Smart Transportation and Automation

IoT Integration Market, by Organization Size

  • Large Enterprises
  • SMEs

IoT Integration Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Iot Integration Market