IoT Integration Market: Global Growth and Opportunities

Strategic Insights -

The IoT integration market refers to the services that companies procure to efficiently function IoT devices. This market has witnessed rapid growth due to the increasing adoption of cloud-based integration systems, which enable digital transformation. However, data security and privacy concerns hinder market growth. The global IoT integration market was valued at USD 0.8 billion in 2019 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 33.1%.

Key Takeaways:

  • The IoT integration market is expected to reach USD 13.4 billion by 2029, growing at a CAGR of 33.1%.
  • Cloud-based integration systems are driving the growth of the IoT integration industry, with 62.1% of the market attributed to cloud-based services.
  • The Asia-Pacific region is anticipated to hold the largest market share, with India, China, Japan, Vietnam, and Indonesia accounting for the largest share.
  • The major players in the IoT integration market include Tata Consultancy Services Limited, Wipro Limited, ATOS SE, Accenture PLC, Fujitsu Ltd., Infosys Limited, Capgemini SE, and HCL Technologies Limited.
  • The IoT integration market is segmented by service, organization size, and application, with device and platform management services holding the largest market share of 38.5%.
  • The market is expected to grow due to the expanding pharmaceutical sector and growing domestic demand in the APAC region.
  • The global IoT integration market is expected to reach USD 13.4 billion by 2029, with the Asia-Pacific region holding the largest market share.

Statistics:

  • The global IoT integration market was valued at USD 0.8 billion in 2019.
  • The market is expected to grow at a CAGR of 33.1% from 2020 to 2029.
  • The cloud-based integration market share is predicted to reach 62.1% by 2029.
  • Asia-Pacific region is expected to hold the largest market share of 42.3% by 2029.
  • The IoT integration market is expected to reach USD 13.4 billion by 2029.
  • Device and platform management services hold the largest market share of 38.5%.
  • The Asia-Pacific region is expected to hold 62.1% of the cloud-based integration market share.

Sources:

  • Straits Research: Report on IoT Integration Market, 2020.
  • Straits Research: Sample report for IoT Integration Market, 2020.
  • Straits Research: Press Release on IoT Integration Market, 2020.
  • List Of Tables: TABLE 1 IoT Integration Market Share by Organization Size, 2017-2029 (USD Million).
  • List Of Tables: TABLE 2 Device and Platform Management: IoT Integration Market Share by Region, 2017-2029 (USD Million).
  • Straits Research: Address: 825 3rd Avenue, New York, NY, 10022, USA.
  • Straits Research: Contact Person: aditya, Email: [aditya@straitsresearch.com](mailto:aditya@straitsresearch.com), Phone: 6464807505.