According to a market research report “Smart City Platforms Market by Offering (Platforms (Connectivity Management, Integration, Device Management, Security, Data Management) and Services), Delivery Model, Application (Smart Transportation, Public Safety), and Region – Global Forecast to 2026″ published by MarketsandMarkets, the global smart city platforms market size to grow from USD 156.1 billion in 2021 to USD 258.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.6 % during the forecast period. Various factors such as increase in adoption of IoT technology for infrastructure management and city monitoring and exponential rise in urban population are expected to drive the adoption of smart city platforms and services.

In a short time, the COVID-19 outbreak has affected markets and customer behaviors and substantially impacted economies and societies. Healthcare, telecommunication, media and entertainment, utilities, and government verticals function day and night to stabilize conditions and facilitate prerequisite services to every individual. The telecom sector, in particular, is playing a vital role across the globe to support the digital infrastructure of countries amid the COVID-19 pandemic.

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According to Fujitsu’s Global Digital Transformation Survey, offline organizations were damaged more, while online organizations witnessed growth in online demand and an increase in revenue. 69% of the business leaders from online organizations have indicated that they witnessed an increase in their business revenue in 2020. In contrast, 53% of offline organizations saw a drop in revenues.

Innovative IoT-based smart city solutions, which can be effectively coupled with big data, analytics, cloud, security, and network connectivity, are witnessing massive demand from various sectors. The adoption of IoT technology in smart city applications, such as smart utilities and smart citizen services, is expected to raise the adoption of smart city platforms during the pandemic as regulatory authorities of various countries are majorly focused on monitoring health, safety, and living standards of their citizens. To cater to the need for managing IoT devices across various cities, IoT solutions vendors need to enhance the management capabilities of their platforms.

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The platforms segment to hold a larger market size during the forecast period

Smart city platforms enable the integration of various software, devices, sensors, machines, routers, controllers, gateways, and edge-computing systems to streamline business processes and increase operational efficiency. Smart city platforms can be utilized as a technology suite or an open, general-purpose application platform or as both. Smart city platforms are engineered to support the requirements of safety, security, and mission criticality associated with industrial assets and their operating environments. These platforms monitor IoT endpoints and event streams and support and translate a variety of manufacturer and industry proprietary protocols. Smart city platforms enable connectivity between objects or platforms and consist of a variety of important building blocks, such as connectivity and normalization, device management, database, processing and action management, analytics, visualization, and external interfaces. Different smart city platforms considered in the study include connectivity management platform, integration platform, device management platform, security platform, and data management.

Connectivity management platforms segment to account for higher CAGR during the forecast period

The connectivity management platform segment reduce additional costs and operational overheads while delivering an intelligent network of connected things. Moreover, this platform primarily deal with connectivity operations across infrastructure that are carried out through cellular connectivity, Low Power Wide Area Network (LPWAN), and Wi-Fi.The growth of the segment is driven by the ongoing smart city developments, specifically in developing regions. Moreover, connectivity being the backbone of any smart infrastructure, the growth rate of the connectivity management platform segment is relatively high as compared to other platforms.

Professional services segment to hold a larger market size during the forecast period

Professional services are services offered through professionals, specialists, or experts to support business operations. These services include deployment and training, consulting and architecture designing, and infrastructure monitoring and management services. The latest techniques, strategies, and skills adopted by professionals encourage the adoption of smart city platforms. They also offer customized implementation and integration of smart city platforms with legacy solutions and assist customers following industry-defined best practices. As far as deployment services are concerned, vendors cover all phases of platform deployment, right from auditing, consulting, deployment, support, training to ongoing performance optimization.

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Hybrid delivery model segment to have a higher CAGR during the forecast period

In the hybrid delivery model, the deployment of the solution is at the customer’s site, which is similar to the offshore model. Maintenance and upgradations are done at the customer’s site, while some parts of the solutions are handled remotely from the vendor’s site and some from the customer’s site. The hybrid delivery model is highly adopted, owing to the connectivity management and security platforms. In this delivery model, the benefits of both the on-site and offshore models can be harnessed. Moreover, hybrid solutions deliver a wide range of functionalities and core features, fueling the overall adoption of hybrid solutions during the forecast period.

APAC to hold higher CAGR during the forecast period

Asia Pacific is an emerging smart city platform market. China, Japan, and Australia are the major countries contributing to the growth of the market in the region. Asia Pacific also houses other major economies, such as Singapore, South Korea, and India. Japan and China are among the largest manufacturing economies that produce automobiles, information technology products, and electronic products. The smart city platform paradigm has changed considerably with the growing popularity of advanced technologies such as robotics and big data analytics.

Major vendors in the global smart city platforms Alibaba Group Holding Limited (China), Amazon Web Services, Inc. (US), Bosch.IO GmbH (Germany), Quantela, Inc. (US), Cisco Systems, Inc. (US), Telefonaktiebolaget LM Ericsson (Sweden), Fujitsu Limited (Japan), Fybr(US), Google LLC (US), Hitachi, Ltd. (Japan), Huawei Technologies Co., Ltd. (China), International Business Machines Corporation (US), Intel Corporation (US), KaaIoT Technologies, LLC. (US), Microsoft Corporation (US), NEC Corporation (Japan), Oracle Corporation (US), SAP SE (Germany), Schneider Electric(France), SOCIEDAD IBÉRICA DE CONSTRUCCIONES ELÉCTRICAS, S.A. (Spain), Siemens AG (Germany), Sierra Wireless Inc. (Canada), SIRADEL SAS (France), Smarter City Solutions(Australia), NEXT BIG THING LABS S.L. (Spain), Ubicquia, Inc (US). Verdigris Technologies, Inc (US), Softdel (US), Igor, Inc (US), Telensa Inc (UK), Enevo Inc. (US), Confidex Ltd (Finland), 75F(US), Ketos(US), and Cleverciti Systems GmbH (Germany).

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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According to a market research report “Smart Water Management Market by Water Meter (AMR, AMI), Solution (Enterprise Asset Management, Network Management, Smart Irrigation), Service (Professional, Managed), End User (Commercial & Industrial, Residential), and Region – Global Forecast to 2026″ published by MarketsandMarkets, the global Smart Water Management  Market size to grow from USD 13.8 Billion in 2021 to USD 22.4 Billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.1% during the forecast period.

The presence of various key players in the ecosystem has led to competitive and diverse market. The growth of the SWM market is expected to gain traction in the next five years, which can be attributed to factors, such as rapid urbanization generating enormous pressure on water utilities for quality and continuous water supply and related services; rapid adoption of advanced technologies for innovating smart solutions to cater to the growing water industry challenges; rising concern for sustainable living leading to the development of regulations and laws by governments across the globe to reduce water consumption; and developing water treatment solutions. Developed economies across the globe are facing a major challenge in the form of aging infrastructure, which generates a huge demand for its replacement with smart water infrastructure solutions, offering precise control over water resources through real-time data.

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The solution segment to record a larger market share during the forecast period

In Smart water management market by offering the solutions segment is expected to record a larger market share during the forecast period With technology becoming more advanced with time, water utilities are adopting smart solutions to integrate various business processes, accelerating them toward growth. Integrating various advanced technologies with the existing operations helps them increase the operational efficiency of the entire water network even with low infrastructure investment. These technologies and smart infrastructure are used to develop innovative solutions for customers in the smart water industry. During the forecast period, the adoption of smart solutions fare is expected to surge due to the rising awareness about the quality of water, scarcity of natural freshwater resources, rising consumer demands, and technological advancements.

Residential segment is expected to have higher growth rate during the forecast period

By end user the residential segment is expected to have the highest growth rate during the forecast period. The demand for freshwater in residential areas has shown unprecedented growth due to the world’s growing urban population, changing lifestyles, and eating habits leading to higher water consumption. The increase in water consumption is more pronounced in urban settings with high population density with the presence of production industries that contribute toward major water consumption. The rising demand for quality water services is expected to propel the demand for SWM solutions in residential areas. The solutions for SWM in residential areas are more focused on supplying quality water to the consumers, as water and sanitation access rates are higher in residential areas, leading to the rising demand for improved city planning and infrastructure with an efficient water supply and drainage system. In residential areas, the demand for quality water and improved sanitation services is rising due to concerns, such as poor health conditions resulting from contaminated water consumption.

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AMI Meters segment is expected to have a higher growth rate during the forecast period

By Watermeter Type, AMI meters is expected to have a higher growth rate. AMI is a network-based technology that uses two-way communication to communicate data from water meters to a remote metering master office, providing similar benefits to AMR systems. The AMI system comprises a head-end system that combines hardware and software to bring water utility data up to date. It also includes digital smart water meters. However, the fundamental communications network in AMI is bidirectional. AMI supports the collection of meter data more frequently than AMRs, where the data is utilized by the utility for billing, consumption, and usage analysis, and meter control, such as Meter Data Management MDM) and Master Client Index (MCI). In addition to these, AMI also offers water utilities the ability to turn on and off the services from one central location. AMI systems can tie together more utility departments, from engineering and operations departments to asset management and planning departments. AMI is an advanced and smarter system that has built-in tools for the enhancement of customer service and satisfaction. In the coming five years, AMI is set to replace legacy systems in residential, commercial, and industrial setups due to the increasing demand for advanced functionalities and technologies to analyze, store, and utilize a large amount of data.

North America to hold the largest market size during the forecast period

North America is expected to hold the largest market size in the global Smart Water Management market during the forecast period. Factors responsible for the growth of the North American market are fast technology adoption, a large urban population with rising demands for quality services, and aging infrastructure, which is in serious need of replacement or upgrades. In North America, SWM solutions are being deployed at a rapid pace to address the effects of climate change, water usage patterns, and the management of new man-made contaminants. According to findings by the US Water Alliance, more than 1.6 million Americans face a shortage of running water, indoor plumbing, and wastewater treatment. Along with this, the most pressing issue in the region is the aging infrastructure, which has led cash-strapped water utilities to deploy smart water solutions due to acute water losses from a large number of pipeline leakages, bursts, and outage incidents.

The key and emerging market players in the Smart Water Management Market include Siemens (Germany), IBM (US), ABB (Switzerland), Honeywell Elster (US), Schneider Electric (France), Itron (US), SUEZ (France), Oracle (US), Landis+Gyr (Switzerland), Trimble Water (US), HydroPoint (US), i2O Water (UK), Xenius (India), Neptune Technology (US), Takadu (Israel), Badger Meter (US), AquamatiX (UK), Fluid (US), Lishtot (Israel), Elentec (UK), Syrinix (UK), CityTaps (France), FREDsense (Canada), Fracta (US), and Xylem (US). These players have adopted several organic and inorganic growth strategies, including new product launches, partnerships and collaborations, and acquisitions, to expand their offerings and market shares in the global Smart Water Management.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.Contact:
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According to a new market research report “Smart Warehousing Market by Component (Hardware, Solutions, and Services), Technology (IoT & Analytics, RFID, AGV), Application (Inventory Management, Order Management), Organization Size, Deployment Mode, Vertical, and Region – Global Forecast to 2026″, published by MarketsandMarkets™,  the global Smart Warehousing Market size to grow from USD 14.8 billion in 2021 to USD 25.4 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.5% during the forecast period. Various factors such as the proliferation of smartphones for faster goods management, the rising advancement in the eCommerce industry due to the onset of the COVID-19 pandemic, the emergence of multi-channel distribution networks, and the dynamic nature and globalization of supply chain networks are expected to drive the adoption of smart warehousing hardware, solutions, and services. However, the market faces restraints, such as a lack of uniform governance standards in the fragmented logistics industry and growing data security and privacy concerns.

The COVID-19 pandemic disrupted global supply chains has overtaken and impacted both supply and demand at a higher pace. But the impact of COVID on the warehouse is going to have long and lasting effects. As the virus spreads throughout the world, there is an outbreak or transportation delay in one part of the world that would have a devastating impact across the globe, causing shutdowns due to warehouse closures or missing or delayed supplies. At the warehouse, some organizations were left with excess inventory they could not ship sitting in inventory and few other firms were at a standstill as they waited to receive inventory at their depleted warehouse. Some industries witnessed unprecedented demand while other industries saw the demand fall, leading to a negative impact on the overall Smart Warehousing Market. Post COVID-19, warehouse and supply chain sectors have adopted and implemented automation technologies, such as Assisted Guided Vehicles (AGV), forklift automation, robotics, and smart sorting to enable businesses to thrive amid today’s changing conditions.

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The on-premises segment to hold the larger market size during the forecast period

Deployment mode segment for the Smart Warehousing Market are segmented into cloud and on-premises. On-premises segment to hold larger market share during the forecast period. Highly secure data encryption and the complete data visibility and control feature boost the adoption of on-premises-based smart warehousing solutions across verticals, such as retail and eCommerce, transportation and logistics, and manufacturing, to have better and efficient warehouse operations.

AI in warehouse segment to account for the highest CAGR during the forecast period

The Smart Warehousing Market is segmented on the basis of the technology, which include IoT and Analytics, AI in warehouse, RFID, Automated Guided Vehicles (AGV), blockchain, and others (AR, security, Wi-Fi, and voice recognition). The AI in warehouse segment is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing need to enhance the overall productivity with minimal errors

The increasing usage of AI and ML technology with smart warehouse solutions ensures effective inventory process and enhanced route optimization.

The large enterprises segment to hold a larger market size during the forecast period

The Smart Warehousing Market has been segmented by organization size into large enterprises and SMEs. The market for SMEs is expected to register a higher CAGR during the forecast period as cloud-based solutions and services help them improve business performance and enhance productivity. Whereas the large enterprises segment is expected to hold a larger market share in the Smart Warehousing Market during the forecast period. Large enterprises have already started implementing smart warehousing solutions and are focusing on implementing advanced technologies for managing the overall supply chain management process across channels. The availability of smart warehousing technologies such as RFID, IoT and analytics, and AI will enable large enterprises to handle complex inventory processes.

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Healthcare and life sciences vertical is to have the highest CAGR during the forecast period

The healthcare and life sciences vertical is expected to grow at the highest CAGR in the Smart Warehousing Market during the forecast period. The traceability and proper scanning of items for genuineness and preventing counterfeiting encourage healthcare companies to improve their warehousing practices. With the help of smart warehousing solutions, healthcare companies can efficiently handle their warehousing activities to enhance productivity.

North America to hold the largest market share during the forecast period

North America is estimated to have the largest market size in 2021, followed by Europe; this growth can be attributed to the technological upgrades in these regions. Being an early adopter of technologies, North America is an innovation hub and is expected to present strong opportunities for smart warehousing vendors to expand in this market. However, APAC is projected to grow at the highest Compound Annual Growth Rate (CAGR) due to the rapid rise in technology adoption across verticals to), enhance customer experience and productivity. The adoption of smart warehousing hardware, solutions, and services is expected to rise in MEA and Latin America due to the growing demand for automating warehouse processes for improved productivity, efficiency, and accuracy. The smart warehouse solutions that are implemented provide flexibility and enhance the capability of employees.

Key players offering Smart Warehousing Market. The major vendors covered are Oracle ( US), SAP (Germany), Manhattan (US), PSI Logistics (Germany), PTC (US), Tecsys (Canada), Reply (Italy), IBM (US), Infor (US), Korber (Germany), Generic (France), Microlistics (Australia), Blue Yonder (US), Vinculum (India), Epicor (US), Softeon (US), 3PL Central (US), Synergy Logistics (US), BlueJay Solutions (US), Mantis (US), WareIQ (India), Foysonis (US), Logiwa (US), Increff (India), Locus Robotics (US), ShipHero (US), Orderhive US), EasyEcom (India), Unicommerce (India), and IAM Robotics (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

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MarketsandMarkets™ INC.
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Email: sales@marketsandmarkets.com
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According to a market research report “eDiscovery Market by Component (Software (Processing, Review and Analysis, Identification, Preservation and Collection, and Production and Presentation) and Services), Deployment Type, Organization Size, Vertical, and Region – Global Forecast to 2025″, published by MarketsandMarkets™, the eDiscovery Marketsize is expected to grow from USD 9.3 billion in 2020 to USD 12.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 6.6% during the forecast period.

The key factors that are expected to drive the growth of the market are the focus on proactive governance with data analytics and the emergence of new content sources.

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Services segment to hold a larger market size during the forecast period

The volume of data that needs to be analyzed is growing day-by-day due to the increasing number of sources that generate data. Services form an integral part of the eDiscovery and include managed services, support and maintenance, and training, consulting, and integration services. The majority of companies across the globe want to exert more control over their eDiscovery data and operations. But Organizations fail to do so due to the lack of resources to execute the required in-house operations in-house. The eDiscovery managed services offer support for data collection through data management and document review. eDiscovery managed services offer a business partnership that allows organizations to have the cost predictability and control they need and the security and required eDiscovery workflows.

SMEs segment to grow at the highest CAGR during the forecast period

SMEs have a low marketing budget and often lack the resources and capabilities for effective marketing orchestration. SMEs, with their limited budgets, try to scale up their businesses through cost-effective techniques to generate maximum RoI from their spending. One of the most widely impacted by COVID-19, Italy, came up with an emergency plan of USD 28 billion that could help them inch slowly toward normalcy. As businesses across sectors are finding it a challenge to stay up and running, it has been a particularly distressing time for SMEs, who gloomily stare at an uncertain future.

IT and telecommunications vertical to grow at the highest CAGR during the forecast period

The IT and telecommunications vertical is experiencing increased data generation due to the advancements in technologies, such as 3G and 4G. The introduction of 5G technology in the near future is expected to generate a large volume of data. This vertical faces challenges in maintaining IP copyrights and data collection due to a broad customer base. It deals with cross-border data privacy and security challenges by regulators and anti-trust inquiries. Hence, companies in this vertical are exposed to more scrutiny as regulatory and consumer demands change.

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North America to account for the highest market share during the forecast period

Companies in this region have adopted eDiscovery solutions to regulate cybersecurity and data breaches, handle cross-border jurisdiction differences and privacy issues, manage investigation matters and litigation, and maintain standards to meet all discovery obligations. North America is further segmented into the US and Canada. The US is expected to be the major revenue contributor to the eDiscovery Market in North America. After the US, Canada is expected to present significant growth opportunities for eDiscovery solutions and service providers.

The major players in the eDiscovery Market are Microsoft(US), IBM(US), OpenText(Canada), Deloitte(US), Micro Focus(UK), ZyLAB(The Netherlands), Relativity(US), Nuix(Australia), Logikcull(US), KLDiscovery(US), Exterro(US), Thomson Reuters(Canada), Knovos(US), Casepoint(US), Nextpoint(US), DISCO(US), Veritas(US), One Discovery(US), Congruity360(US), Onna(US), Everlaw(US), Texifter(US), Allegory(US), Evichat(Canada), and Reductech(UK). The study includes an in-depth competitive analysis of key players in the eDiscovery Market with their company profiles, recent developments, COVID-19 developments, and key market strategies.

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
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USA : 1-888-600-6441
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According to market research report “IoT Integration Market Size, Application (Smart Building and Home Automation, Smart Healthcare), and Region – Global Forecast by Service (Device and Platform Management, System Design and Architecture, Network Management, Advisory), Organization to 2025″,  published by MarketsandMarkets™, the IoT Integration Marketsize 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).

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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 effectiveness of services and offering high value for elderly patients with chronic conditions and those patients who require constant supervision. IoT integration services play a vital role in the smart healthcare application area to integrate and interoperate the smart devices involved in the smart healthcare ecosystem. In addition, they help integrate vital vendor-agnostic monitoring devices and support HIPAA-compliant authorization processes and data flow management. IoT healthcare applications include smart glucose level sensing and controlling, heart monitoring, blood pressure monitoring, and smart temperature monitoring.

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Asia Pacific to hold the highest market size during the forecast period

APAC is the fastest-growing region in the IoT Integration Market; this growth can be attributed to the significant adoption of advanced technologies, the proliferation of IoT-enabled devices, continuously enhancing network connectivity and government initiatives for IoT. APAC has emerged as the most lucrative market for IoT integration services. Countries of this region have a positive outlook toward IoT services and applications over various business verticals.

Moreover, these countries are taking aggressive initiatives to upsurge the IT infrastructure, thus enabling commercial users to adopt cutting-edge technology. According to the GSM Association, APAC represents the single largest market for IoT services with an expected seven billion connections by 2021. The presence of IoT vendors, such as TCS, Wipro, NTT Data, Fujitsu, and others, is one of the factors driving the growth of the IoT integration in the APAC region. The size of the revenue potential in the APAC region is attracting international IoT vendors to offer their IoT integration services in the region.

Major vendors operating in the IoT Integration Market include TCS Limited (India), DXC Technology (US), Wipro Limited (India), Atos SE (France), Accenture (Ireland), Fujitsu Ltd. (Japan), Infosys Limited (India), Capgemini (France), HCL Technologies Limited (India), Tech Mahindra Limited (India), , IBM Corporation (US), Cognizant (US), NTT Data Corporation (Japan), Dell EMC (US), Deloitte (US), Mulesoft LLC (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).

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