IoT Integration Services Market: Introduction
- The Internet of Things is a system of interconnected computing devices, virtual machines, and objects that are provided with distinct identifiers with the capability to transfer data over a network without any human-to-computer interaction. IoT integration includes services that are delivered by providers for proficient functioning of IoT devices. Several companies are moving toward cloud-based integration systems to bring digital transformation that enables rapid growth of the IoT integration services market.
- IoT integration is useful to capture data from smart devices and move it into business applications to apply analytics for insights and to automate processes. IoT integration services has capabilities that matches competitive scenarios that are constantly changing industries such as transportation, manufacturing, healthcare, hospitality, retail, and energy.
- The Covid-19 outbreak has disturbed many markets, including IoT integration services. Covid-19 has impacted projects due to low productivity, and organizations are slowing down the adoption of IoT integration services. Thus, growth of the IoT integration services market declined in 2020 as compared to year 2019. Technologies such as extended reality, data analytics, Internet of Things, and artificial intelligence are aiding governments and companies to solve unique challenges posed by Covid-19.
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Global IoT Integration Services Market: Dynamics
Global IoT Integration Services Market: Key Drivers
- Rising demand for IoT devices has increased the adoption of BYOD and remote workplace management solutions. Organizations are inspiring employees to bring their own devices to the office. BYOD has aided organizations to cut down cost by not spending on corporate devices and empowered employees to work from home and use the device of their choice. This trend has led to demand for a shared platform across all devices that incorporates a variety of applications.
- IoT integration services are a solution to connect different devices. These services provide two-way and real-time communication among the systems and devices. Additionally, the platforms act on data locally, systematize corrective responses, and stores data on the cloud for improved business insights. Growing dependency on BYOD and remote workplace management has driven the need to manage assets and devices in organizations. An integrated platform helps organizations to track an employee’s activities in their personal devices, monitor data and detect web activities that employees are not authorized to perform. Thus, the immense growth in number of interrelated devices is anticipated to be a major driver of the IoT integration services market.
North America to Account for Major Share of the IoT Integration Services Market
- In terms of region, the global IoT integration service market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America is projected to be the major regional market for IoT integration services. Majority of players are based in North America and the region is a key contributor to IoT integration services due to technological development and government initiatives that have adopted Industrial IoT and smart cities.
- Canada and the US are the early adopters of advanced technologies in numerous verticals such as smart cities, manufacturing, and healthcare and have well-established economies that empowers them to invest in R&D activities. Organizations in North America are keen to integrate IoT technologies into their processes. Rising digitalization in the manufacturing sector amongst both large enterprises, and small & medium enterprises have also driven the growth of the IoT integration services market in North America.
- The US is the leader in the IoT integration services market and Canada is anticipated to witness a surge in adoption of IoT integration services as there is an understanding of the value propositions and relationship to the integration services infrastructure.
Global IoT Integration Services Market: Competitive Landscape
Key Players Operating in the IoT Integration Services Market
IoT integration services solution providers are implementing development strategies to improve their presence & expand their share in the global IoT integration services market. IoT integration services solution providers have adopted prime growth strategies such as product launches, partnerships and acquisitions, & forming of regional and global distribution networks to enhance their presence in the market.
Key Players of the IoT Integration Services Market Include:
- Accenture PLC
- Allerin Tech Pvt. Ltd.
- Capgemini SE
- Cognizant Technology Solutions Corporation
- Dell Technologies, Inc.
- Deloitte Touche Tohmatsu Ltd.
- Dex Technology
- Fujitsu Ltd.
- HCL Technologies Ltd.
- Infosys Ltd.
- Intel Corporation
- International Business Machines Corporation
- Mulesoft, Inc.
- Tech Mahindra Ltd.
- Tibbo Systems
- Wipro Ltd.
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In May 2020, Accenture PLC acquired Callisto Integration Ltd., an IT service management company that provides digital manufacturing services, to offer a unique combination of manufacturing, technology, and analytics services.
In May 2019, Atos, a computers and information technology company, introduced a security system with a hardware security module for IoT ecosystems that integrate Software-as-a-Service with IoT security services and centralized key management systems for a fully integrated solution.
In August 2019, DXC Technology entered into partnership with Google Cloud to drive innovation for enterprises at scale that enable organization clients to assimilate digital solutions and streamline their mission-critical IT.
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