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IoT Integration Market Growing at a CAGR 28.5% | Key Player Accenture, Wipro, Cognizant, Capgemini, Fujitsu
The IoT Integration Market size is projected to grow from USD 1.5 billion in 2020 to USD 5.3 billion in 2025, at a Compound Annual Growth Rate (CAGR) of 28.5% during the forecast period. The major factors driving the growth of the IoT Integration market include the proliferation of connected devices to encourage BYOD and remote workplace management, development of wireless technologies, need to increase operational efficiency, maturing partner agreements of IoT vendors, and the emergence of Internet Protocol version 6 (IPv6).
Based on services, the services segment to grow at a higher CAGR during the forecast period
The services segment includes device and platform management services, application management services, advisory services, system design and architecture, testing services, service provisioning and directory management, third party API management services, database and block storage management services, network management services, infrastructure, and workload management services. System design and architecture services involve the analysis, design, and configuration of the software components required to support the system architecture. System design engagement typically provides advice for the sizing of new systems and the scaling of existing systems. It provides improved system performance, offers tailored configuration advice, and monitors the capability usage of system resources. Service providers also design and offer client requirements and budget-specific customized services to manage business workflows. Additionally, service providers offer reliable systems and architecture services, including IoT solution and connectivity design, wireless network design, and IoT infrastructure design.
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Based on organization size, large enterprises is to lead the market during the forecast period
The large enterprise segment uses the IoT integration services platform to ensure efficient integration and management of IoT devices for business processes. Large enterprises are early adopters of IoT integration services. The adoption of IoT integration services in large enterprises is said to be higher as compared to SMEs. Large enterprises have the necessary resources but face issues when it comes to deployment type due to the variety of solutions and applications available. This complexity and sophistication of the IT infrastructure may lead to the requirement of a dedicated department for IT infrastructure management. These organizations have larger budgets due to the number of users and the importance of data; however, the size of the budget may vary from industry to industry, majorly in smart healthcare, smart manufacturing, and smart transport and logistics industries.
Major IoT Integration vendors include TCS (India), Wipro (India), Atos (France), Accenture (Ireland), Fujitsu Ltd. (Japan), Infosys (India), Capgemini (France), HCL Technologies (India), Tech Mahindra Limited (India), DXC Technology (US), IBM Corporation (US), Cognizant (US), NTT Data Corporation (Japan), Dell EMC, Deloitte (US), Mulesoft (US), Allerin Tech Pvt Ltd (India), Softdel (US), Phitomas (Malaysia), Einfochips (US), Timesys Corporation (US), Tibbo Systems (China), Aeris (US), Macrosoft Inc. (US), and Damco (US). These market players have adopted various growth strategies, such as partnerships, collaborations, and new product launches, to expand have been the most adopted strategies by major players from 2018 to 2020, which helped companies innovate their offerings and broaden their customer base.
Accenture (Ireland) is one of the leading vendors in the IoT Integration market. The company offers a wide range of services in the IoT Integration market. Accenture IoT service integrator provides complimentary systems integration skills covering enterprise software, IoT architectures, applications, and PMO by building on their end-to-end experience of large scale IoT and SI projects to support CSPs and their client’s integration projects. Accenture IoT Device Platform (AIDP) in its Connected Device Design Studios is testing potential use cases for its clients on a variety of networks, including LoRa, Sigfox, Narrow Band-IoT (NB-IoT), Wi-Fi, Bluetooth, and cellular. The company focused on both the organic and inorganic growth strategy to enhance its position in the IoT integration market. For instance, in April 2018, Accenture launched the Intelligent Enterprise Platform an insight-driven, digitally integrated platform designed to power enterprise IoT from business case to roadmap and to delivery. In May 2020, Accenture acquired Callisto Integration a Canada-based provider of consulting and technology services, provides digital manufacturing services to large companies in the food and beverage, chemicals, utilities, and other industries. With this acquisition, Accenture will offer a unique combination of manufacturing, technology, and analytics services.
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Atos (France) is another IoT Integration services provider across the globe. Oracle offers a wide range of IoT Integration services through Atos Codex, the Atos brand for advanced analytics, IoT, and cognitive solutions, the company delivers, manages, and secures the full IoT value chain from connected devices to edge computing to the data center, leveraging agile processes, innovative tooling and automation, working with its extensive IoT partner ecosystem. The company majorly focuses on both the organic growth strategies to improve its place in the IoT Integration market. For instance, in May 2019, Atos launched a security system for IoT ecosystems with a new dedicated Hardware Security Module, which combines software-as-a-service with a centralized key management system and IoT security services for a fully integrated solution. In November 2018, Atos partnered with VMware to help customers address the challenges of deploying complex IoT devices and networks at the enterprise scale.
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