IoT Integration Market to Surpass USD 21.19 Billion by 2030 | Proliferation of IoT Devices across Industries Drives Market Growth

IoT Integration Market Scope and Overview:

Leveraging Data from IoT Devices to Optimize Operations, these IOT devices offer a wealth of data crucial for streamlining operations and making informed decisions across various industries.
The IoT Integration Market, valued at USD 2.37 billion in 2022, is poised to reach a staggering USD 21.19 billion by 2030. The sector's growth, projected at a compound annual growth rate (CAGR) of 31.5% from 2023 to 2030, stems from businesses capitalizing on IoT devices.

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Major Key Players Included are:

• DXC Technology
• NTT Data Corporation
• Wipro Limited
• Atos SE
• Fujitsu Ltd
• Infosys Limited
• TCS Limited
• HCL Technologies Limited
• Dell EMC
• Tech Mahindra Limited
• IBM Corporation
• Capgemini
• Cognizant
• Salesforce
• Softdel
• Phitomas
• eInfochips
• Timesys Corporation
• Allerin Tech Pvt Ltd
• Tibbo Systems
• Allerin Tech Pvt Ltd
• Aeris
• Macrosoft Inc
• Deloitte
• Others

Market scope:

IoT integration, the linchpin for efficient IoT device functionality, sees a surge in adoption by companies embracing cloud-based systems for digital transformation. This surge, in turn, fuels the industry's rapid expansion. Integration extracts data from smart devices, channeling it into business applications to automate processes and derive valuable insights. Its benefits extend to meeting the intense competitiveness across sectors like manufacturing, hospitality, retail, transportation, logistics, and energy.

Driving Factors Shaping the Market:

The rise of Bring Your Own Device (BYOD) and remote workplace management solutions is a pivotal driver. Enterprises embracing BYOD reduce costs, empower remote work, and create unified platforms for diverse applications across devices. Additionally, the evolution of wireless IoT technologies, including LoRaWAN, LPWAN, 5G, and IPV6, serves as a catalyst for heightened demand due to their power efficiency and expansive connectivity.

Segment Dominance and Growth Drivers:

In the realm of services, System Design and Architecture spearhead with a higher anticipated CAGR, crucial for planning and implementing scalable IoT systems. Simultaneously, the Smart Healthcare segment leads in application due to its pursuit of enhanced patient outcomes and experiences through real-time insights and remote monitoring facilitated by IoT integration.

Market Segmentation and Sub-Segmentation included are:

By Service:
• Third-party API Management Services
• Network Management Services
• Device and Platform Management Services
• System Design and Architecture
• Application Management Services
• Advisory Services
• Testing Services
• Service Provisioning and Directory Management
• Database and Block Storage Management Services
• Infrastructure and Workload Management Services

By Enterprise Size
• Small and medium-sized enterprises
• Large enterprises

By Application
• Smart building and home automation
• Smart Healthcare
• Energy and utilities
• Industrial manufacturing and automation
• Smart retail
• Intelligent transportation, logistics, and telematics

Regional Dynamics:

North America's dominance in IoT integration thrives on the proliferation of IoT devices across industries and the presence of vendors offering these services. Meanwhile, Asia-Pacific's rapid growth is fueled by increased IoT adoption, government initiatives, rising smartphone penetration, and digital payment services.

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Key Takeaways:

- Accelerated Growth: IoT Integration poised for exponential growth, driven by data-driven operational optimization across industries.
- Diverse Applications: Smart healthcare emerges as a key application area, emphasizing improved patient outcomes.
- Regional Shift: North America leads while Asia-Pacific presents robust growth potential, driven by diverse factors.

Recent Developments in the Industry:

- TCS and Lexmark partnered to innovate enterprise applications and accelerate cloud adoption.
- DXC Technology and Nokia introduced DXC Signal Private LTE and 5G Solution.

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Table of Contents - Major Key Points:

1.Introduction
2.Research Methodology
3.Market Dynamics
4.Impact Analysis
4.1.COVID-19 Impact Analysis
4.2.Impact of Ukraine- Russia war
4.3.Impact of ongoing Recession on Major Economies
5.Value Chain Analysis
6.Porter's 5 Forces Model
7.PEST Analysis
8.IoT Integration Market, By Service
9.IoT Integration Market By Enterprise Size
10.IoT Integration Market, By Application
11.Regional Analysis
12.Company Profiles
13.Competitive Landscape
14.USE Cases and Best Practices
15.Conclusion

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