Pune, Jan. 27, 2025 (GLOBE NEWSWIRE) -- IoT Integration Market Size Analysis:
“The IoT Integration Market was valued at USD 4.67 Billion in 2023 and is projected to reach USD 55.01 Billion by 2032, growing at a compound annual growth rate (CAGR) of 31.58% from 2024 to 2032.”
IoT Integration Market Poised for Growth as Adoption Accelerates Across Key Sectors
The IoT integration market is rapidly growing, fueled by the increasing use of IoT devices in industries such as healthcare, automotive, and smart homes. By the end of 2023, cellular IoT connections achieved 3.4 billion, while worldwide expenditure on IoT technology is expected to reach 260 billion US dollars in 2024. As companies aim to optimize operations and improve customer experiences, innovations in AI, 5G, and cloud computing drive the need for comprehensive IoT integration solutions. Salesforce's introduction of the Connected Vehicle app in 2024 demonstrates how AI-powered solutions are transforming personalized experiences. As sectors aim to utilize real-time data and automation, the demand for smooth IoT integration will keep increasing.
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Major Players Analysis Listed in this Report are:
- TCS Limited (IoT Framework, Connected Universe Platform)
- Wipro Limited (Wipro Smart i-Connect, Wipro IoT Platform)
- Atos SE (Atos Codex IoT Services, BullSequana Edge)
- Accenture (Accenture IoT Device Platform, Intelligent Enterprise Platform)
- Fujitsu Ltd. (Fujitsu IoT Solution INTELLIEDGE, Fujitsu Cloud Service K5 IoT Platform)
- Infosys Limited (Infosys IoT Engineering Services, Infosys Edge Suite)
- Capgemini (Capgemini IoT Platform, Smart Digital Operations)
- HCL Technologies Limited (IoT WoRKS, HCL EdgeLITy)
- Tech Mahindra Limited (Integrated Engineering Solutions, Connected Solutions)
- DXC Technology (DXC IoT Platform, Industrial IoT Solutions)
- Deloitte (Deloitte IoT Services, IoT Analytics Platform)
- IBM (IBM Watson IoT Platform, IBM Maximo)
- Cognizant (Cognizant IoT Services, Connected Products)
- Salesforce (Salesforce IoT Cloud, MuleSoft Anypoint Platform)
- NTT Data (IoT Platform Services, Edge Computing Solutions)
- Dell EMC (Dell Edge Gateway, Dell IoT Solutions)
- Damco (IoT Development Services, IoT Consulting Services)
- Allerin (IoT Application Development, IoT Data Analytics)
- Softdel (IoT Gateway Solutions, Device Management Services)
- Phitomas (IoT Solutions, Smart Factory Solutions)
- eInfochips (IoT Platform Services, Smart Edge Solutions)
- Timesys (Timesys IoT Security, Timesys IoT Development)
- Tibbo (Tibbo IoT Modules, Tibbo Project System)
- Aeris (Aeris IoT Connectivity, Aeris IoT Platform)
- Macrosoft (IoT Application Development, IoT Testing Services)
- Meshed (IoT Connectivity Solutions, Smart Building Solutions)
IoT Integration Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 4.67 Billion |
| Market Size by 2032 | USD 55.01 Billion |
| CAGR | CAGR of 31.58% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | • The Impact of High Implementation Costs on the Growth of the IoT Integration Market • Data Security and Privacy Concerns as Challenges to IoT Integration Market Growth |
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Device and Platform Management Leads, While System Design and Architecture Set for Rapid Growth
In 2023, the Device and Platform Management segment led the IoT Integration Market, capturing around 30% of the total revenue. This dominance is driven by the growing need for effective management and monitoring of connected devices across various industries. As businesses deploy an increasing number of IoT solutions, managing diverse devices, ensuring smooth communication, and maintaining optimal system performance have become essential.
The System Design and Architecture segment is expected to grow at the fastest CAGR of approximately 34.61% from 2024 to 2032. This growth is fueled by the increasing complexity of IoT systems and the rising demand for customized, scalable architectures that can accommodate a wide range of devices and applications. As businesses seek to create more flexible and robust IoT ecosystems, the emphasis on system design and architecture will be crucial to ensuring compatibility, reliability, and scalability, contributing to the segment’s rapid growth.
Manufacturing & Industrial Segment Leads, While Healthcare & Life Sciences Set for Rapid Expansion
In 2023, the Manufacturing & Industrial segment dominated the IoT Integration Market, capturing the largest revenue share of approximately 23%. This leadership is driven by the growing adoption of IoT technologies for predictive maintenance, process optimization, and real-time monitoring across manufacturing operations. Industries are increasingly leveraging IoT solutions to minimize downtime, enhance production efficiency, and enable higher levels of automation, making this segment the primary revenue generator in the market.
The Healthcare & Life Sciences segment is projected to experience the fastest growth, with a CAGR of about 35.03% from 2024 to 2032. This rapid expansion is driven by the rising demand for IoT-enabled solutions that improve patient care, optimize hospital operations, and enhance diagnostics through connected devices. The integration of wearable health monitors, telemedicine, and remote patient management systems is revolutionizing healthcare delivery, fueling the growth of this segment as both providers and patients embrace IoT technology for improved outcomes.
IoT Integration Market Segmentation:
By Services
- Device And Platform Management
- System Design and Architecture
- Advisory Services
- Database & Block Storage Management
- Third Party API Management Services
- Others
By Application
- Smart Building & Home Automation
- Smart Healthcare
- Energy & Utilities
- Industrial Manufacturing & Automation
- Smart Retail
- Smart Transportation, Logistics, and Telematics
By End Use
- BFSI
- Manufacturing & Industrial
- Healthcare & Life Sciences
- Government & Defense
- Energy & Utilities
- Automotive & Transportation
- Retail & E-commerce
- IT & Telecom
- Others
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North America Leads, While Asia Pacific Set for Rapid Growth
In 2023, North America led the IoT Integration Market, capturing the largest revenue share of approximately 39%. This dominance is attributed to the region's advanced technological infrastructure, the strong presence of key market players, and the widespread adoption of IoT solutions across diverse industries. The extensive deployment of IoT applications in sectors like manufacturing, healthcare, and smart cities has solidified North America's position as a leader in the IoT space, driving significant market growth and innovation.
The Asia Pacific region is projected to experience the fastest compound annual growth rate of around 34.43% from 2024 to 2032. This rapid growth is fueled by increasing industrialization, rising urbanization, and the growing demand for smart solutions in countries such as China, India, and Japan. With substantial investments from governments in digital transformation, smart cities, and manufacturing automation, Asia Pacific is set to become a major hub for IoT adoption, driving market expansion in the years ahead.
Key Developments in IoT Integration Market
- In 2024, TCS opened a new IoT Engineering Lab in Ohio to foster innovation and enhance operational efficiency through IoT technologies and industry-specific solutions.
- In 2025, Accenture acquired Percipient’s digital twin platform to boost its banking modernization efforts, enabling financial institutions to transform systems without disrupting operations.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. IoT Integration Market Segmentation, By Services
8. IoT Integration Market Segmentation, By Application
9. IoT Integration Market Segmentation, By End Use
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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