IoT Integration Market Size Is Expected To Reach USD 23.33 Billion By 2030


 San Francisco, 15 Oct 2024: The Report IoT Integration Market Size, Share & Trends Analysis Report By Services, By Enterprise Size (Large Enterprises, Small & Medium Enterprises), By Industry Vertical, By Region, And Segment Forecasts, 2024 - 2030

The global IoT integration market size to reach USD 23.33 billion by 2030 and is projected to grow at a CAGR of 28.3% from 2024 to 2030. The proliferation of connected devices, the rise of smart cities, advancements in AI and machine learning, increased focus on cybersecurity, and the emergence of edge computing are driving the market growth. Additionally, the growing emphasis on data-driven decision-making is driving market expansion, leading to increased investments in IoT platforms. These platforms collect data and offer tools for analysis and visualization, empowering businesses to make informed decisions based on real-time information. This trend is expected to fuel market growth in the coming years.

 

Furthermore, businesses and consumers are adopting a wide range of IoT devices, from smart home gadgets to industrial sensors, thereby enhancing the need for seamless integration between these devices. This proliferation demands robust integration solutions that can ensure interoperability, streamline data flow, and enable comprehensive device management. The surge in connected devices is expected to continue, driven by advancements in technology and the increasing adoption of IoT across sectors such as healthcare, manufacturing, and smart cities, which is expected to further fuel the market growth.

 

In addition, the growing demand for automation across industries such as manufacturing, logistics, and healthcare is boosting the market demand. The increasing focus of companies to enhance operational efficiency, reduce costs, and improve productivity, is accelerating the adoption of IoT technologies. Automation through IoT allows for real-time monitoring and control of processes, enabling organizations to respond swiftly to changes in their environment. This trend is expected to further fuel the market growth in coming years.

 

Access Research Report of IoT Integration Market @ https://www.grandviewresearch.com/industry-analysis/iot-integration-market-report

The integration of IoT devices in smart cities is revolutionizing urban environments by creating interconnected systems that boost efficiency and sustainability. IoT-enabled infrastructures gather real-time data from various sources, such as traffic sensors, environmental monitors, and public service systems, enabling city planners to make informed decisions based on analytics. This data-driven approach enhances urban planning by optimizing traffic management with adaptive signal control systems, reducing congestion and emissions. This trend is expected to expand further, driven by the growing demand for smarter solutions that enhance quality of life and operational efficiency.

Moreover, the increasing complexity of IoT ecosystems is driving the need for advanced IoT integration solutions that can handle the complexities of connecting different technologies. This is particularly distinct in large-scale deployments where seamless integration is critical to maintaining system reliability and performance, which is expected to fuel the market expansion in coming years. In addition, organizations are prioritizing IoT integration solutions that include robust security measures to protect their networks and ensure compliance with data protection regulations. This emphasis on security is expected to contribute to significant adoption of comprehensive IoT integration services.

Recent Developments

  • In April 2024, Microsoft Corporation announced a partnership with leading industrial companies to enhance the integration of AI with industrial data. This collaboration aims to unlock valuable insights from industrial data, enabling organizations to improve operational efficiency and decision-making processes. The initiative focuses on developing solutions that leverage AI to analyze data from various industrial sources, facilitating predictive maintenance and optimizing production workflows.
  • In October 2023, Amazon Web Services, Inc. announced the general availability of its new Software Package Catalog feature. This fully managed cloud service allows users to register, organize, monitor, and manage IoT devices at scale. The Software Package Catalog enables tracking and monitoring of software package versions across device fleets, providing insights through a centralized dashboard.
  • In October 2023, Amazon Web Services, Inc. announced new features for AWS IoT Twin Maker that enhance the digital twin entity modeling experience. These improvements include support for multiple data sources, simplified data mapping, and the ability to create and manage entities more efficiently. By streamlining the process of creating and managing digital twins, these updates make it easier for construction companies to leverage IoT data to optimize building operations, reduce costs, and improve occupant experiences.

Key IoT Integration Company Insights

Some of the key players operating in the IoT integration market include Microsoft Corporation, Amazon Web Services, Inc., and Cisco Systems, Inc. among others.

  • Microsoft Corporation is a multinational technology company actively engaging in the IoT integration market through its comprehensive Azure IoT suite of servicesAzure cloud platform, which provides comprehensive IoT services and solutions. Azure IoT enables businesses to connect, monitor, and manage IoT devices at scale while leveraging advanced analytics and AI capabilities.
  • Amazon Web Services, Inc., a subsidiary of Amazon.com Inc., offers a wide range of infrastructure services that empower businesses to build sophisticated enterprise sizes with increased flexibility, scalability, and reliability. The company has expanded its offerings to include robust IoT solutions such as AWS IoT Core. This service allows users to connect devices securely to the cloud and enables them to efficiently process data generated by those devices.

Intel Corporation and Software AG are some of the emerging market participants in the IoT Integration market.

  • Intel Corporation is a semiconductor manufacturer and technology company recognized for its innovative products and solutions. The company offers a comprehensive portfolio of IoT solutions that encompass hardware, software, and services designed to facilitate the integration and management of connected devices. The company’s IoT products leverage advanced processing capabilities, edge computing technologies, and robust security features to enable businesses across industries such as manufacturing, healthcare, and smart cities to harness data-driven insights for improved operational efficiency and enhanced customer experiences.
  • Software AG is a German multinational software corporation offers an array of integration platforms that facilitate connectivity between devices, enterprise sizes, and data sources. The company’s focus on digital transformation through IoT integration helps organizations optimize operations, enhance customer engagement, and drive innovation across various sectors such as manufacturing, logistics, and energy.

Key IoT Integration Companies:

The following are the leading companies in the IoT integration market. These companies collectively hold the largest market share and dictate industry trends.

  • Microsoft Corporation
  • Amazon Web Services, Inc.
  • Siemens
  • Cisco Systems, Inc.
  • Intel Corporation
  • GE Vernova
  • SAP SE
  • PTC Inc.
  • Bosch Global Software Technologies Pvt Ltd.
  • Software AG

 

About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

For More Information: https://www.grandviewresearch.com/horizon

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