Overview
The IoT integration market is anticipated to grow by US$4,066.79 million by 2023 rapidly growing at a CAGR of 32.06% during the forecast period. The global IoT integration market is driven by the rise in BYOD and remote workplace management culture. These factors have helped shape the IoT integration market and are expected to boost the growth. Companies in the IoT integration market could also face challenges such as increase in regulatory compliance and regulations and shortage of talent pool. The details covered in the IoT integration market report cover all the aspects of the industry. Analysts studying the IoT integration market have also shared growth projections in the report and have suggested IoT integration market players to plan business strategies accordingly.
Market Segmentation
The global IoT integration market has been segmented based on services, organization size, and application . On the basis of application, the market for IoT integration is segmented based on smart healthcare, smart retail, smart building, energy & utilities and smart transportation. Additionally, the market on the basis of organization size, is segmented into large enterprises and small & medium enterprises. The global market for IoT integration is also covered based on services segment which is further split into device and platform management, system design and architecture, advisory services, database & block storage management, application management services, third party API management services and others.
Factors like growing traction for risk mitigation as well as growing need for data consistency support the IoT integration market growth. The performance of the IoT integration market has also been studied for the past and current years. Additionally, the IoT integration market report provides analysis of these segments. The IoT integration market segmental analysis provided in the report offers major details about the IoT integration market based on the data and forecasts till 2023.
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Regional Overview
Companies in the IoT integration market are spread across the world. The IoT integration market report provides major information about regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world. The North American IoT integration market has many companies across the United States, Canada, and Mexico. The IoT integration market of the Middle East, Africa, and other regions has also been studied by analysts. The regional analysis of the IoT integration market can be found in the market research report. Europe has companies in the IoT integration market across Germany, France, Spain, Italy, and the United Kingdom. A detailed analysis of the IoT integration market across India, China, and Japan in the Asia-Pacific region is also presented in the report.
Competitive Landscape
The IoT integration market is supported by increasing adoption of IoT enabled energy-saving equipment. The population growth around the world and increasing demand of IoT integration market based services and products also support the market growth. However, the IoT integration market growth can be affected due to high development and maintenance cost. The report covers all such details which will help companies in the IoT integration market to strengthen their business plan and improve their product portfolio. The IoT integration market research report also provides company profiles of major companies. The company profiles of many organizations operating in the IoT integration market report highlights crucial details like company size, revenue growth, and details of mergers and acquisitions taking place in the IoT integration market. New companies and established businesses can plan their strategies based on this data provided in the IoT integration market research report.
Industry News
Allegion has purchased Yonomi, a privately owned technology firm, a pioneer in IoT cloud platforms. Created in 2013 by building automation and corporate cloud computing specialists, Yonomi was the "first to build an agnostic home automation platform that instantly finds and controls devices," reads the press release. Yonomi technologies are now operating in over 150 countries, with millions of IoT devices linked to its services and millions are now installed on its platforms.
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