IoT Integration Market – Survey on Consumption Benefits 2030

Market Overview:

The Internet of Things (IoT) is a network of physical objects that are embedded with sensors, software, and network connectivity to collect and exchange data. IoT integration is the process of connecting and managing these devices and their data so that they can work together to achieve a common goal.

The IoT integration market size is growing rapidly due to the increasing adoption of IoT devices and applications across a wide range of industries. The market is expected to reach USD 2493.56 billion by 2030, at a CAGR of 25.80%.

Market Segmentation:

The IoT integration market is segmented by solution, service, vertical, and region.a

By solution, the market is segmented into middleware, platform, and application. The middleware segment is expected to dominate the market during the forecast period due to the increasing demand for solutions that can help businesses to connect and manage their IoT devices and data.

By service, the market is segmented into consulting, integration, and managed services. The integration service segment is expected to grow at the fastest CAGR during the forecast period due to the increasing complexity of IoT projects.

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By vertical, the market is segmented into manufacturing, healthcare, energy, transportation, and others. The manufacturing segment is expected to dominate the market during the forecast period due to the increasing use of IoT devices in manufacturing operations to improve efficiency and productivity.

By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the market during the forecast period due to the early adoption of IoT technologies in the region.

Key Companies:

Some of the key players in the IoT integration market include:

• TCS Limited

• Wipro Limited

• Atos SE

• Accenture

• Fujitsu Ltd.

• Infosys Limited

• Capgemini

• HCL Technologies Limited

• Tech Mahindra Limited

• DXC Technology

• IBM Corporation

Regional Insights

The IoT integration market is expected to grow at a highest CAGR in Asia Pacific during the forecast period. The growth of the market in Asia Pacific is attributed to the increasing adoption of IoT technologies in the region, especially in China, India, and Japan.

North America is expected to be the second-largest market for IoT integration during the forecast period. The growth of the market in North America is attributed to the early adoption of IoT technologies in the region and the presence of a large number of IoT solution providers.

Europe is expected to be the third-largest market for IoT integration during the forecast period. The growth of the market in Europe is attributed to the increasing investment in IoT technologies by governments and businesses in the region.

Industry Latest News

• In June 2023, Google announced the launch of its new IoT integration platform, Edge TPU. Edge TPU is a small, low-power chip that can be used to process IoT data locally, reducing the need to send data to the cloud.

• In May 2023, Microsoft announced the acquisition of IoT platform provider, PTC. The acquisition is expected to help Microsoft to expand its IoT offerings and compete with other major players in the market.

• In April 2023, Amazon announced the launch of its new IoT integration service, AWS IoT SiteWise. AWS IoT SiteWise is a managed service that helps businesses to collect, store, and analyze data from their IoT devices.