IoT Integration Market worth $5.3 billion by 2025
The report "IoT Integration Market Share by Service (Device and Platform Management, System Design and Architecture, Network Management, Advisory), Organization Size, Application (Smart Building and Home Automation, Smart Healthcare), and Region - Global Forecast to 2025 ", size is projected to grow from USD 1.5 billion in 2020 to USD 5.3 billion by 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, increased 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. 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. Based on application, the smart healthcare segment to grows at a higher CAGR during the forecast period Smart healthcare is an interconnected system of medical devices and sensors that healthcare organizations use for patient management, chronic disease management, remote monitoring of various parameters of patients, and preventive care. The connected devices enable healthcare organizations to streamline their operations, business processes and offer real-time patient care, even from remote locations. The smart healthcare application area is rapidly adopting IoT integration services to leverage IoT benefits. These services integrate IoT capabilities into medical devices for improving the quality and