March 4, 2019 at 8:24 am #29123
- Topic 967
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- posts 967
#News(General) [ via IoTForIndiaGroup ]
IoT integration are offered by service providers, Communication Service Providers (CSPs), and Network-as-a-Service (NaaS) providers. IoT integration services are gaining importance as they are mandatory for integrating multiple heterogeneous components across IoT ecosystems. They also offer cohesive functionalities to streamline and exchange data among multiple IoT components and provide a unified view of the metrics and data to the relevant stakeholders.
IoT integration require a dedicated team to deploy the service blueprint across multiple IoT components as per the needs of the end-user. A strategic approach along with a strong integration strategy is essential for enabling cohesion and streamlining IoT components, since all components may not work well in isolation.
The IoT integration services market is gaining traction due to the increasing adoption of smart devices and technologies that are revolutionizing and transforming electronic products, which are connected to the internet and adopted by different industries. IoT integration services decrease daily business operations and reduce operational expenses.
The IoT integration market size is expected to grow from USD 759.5 Million in 2017 to USD 3,301.7 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 34.2%.
The major forces driving the growth of the IoT integration services market include the growth of the Bring Your Own Device (BYOD) trend and the need for remote workplace management. Moreover, the increasing demands for data consistency and growing regulatory compliances and regulations are also some of the factors that are driving the market growth.
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