IoT Integration Market is Anticipated To Reach USD 12.1 Billion By 2028 By CIOTechOutlook Team

IoT Integration Market is Anticipated To Reach USD 12.1 Billion By 2028

CIOTechOutlook Team | Friday, 25 August 2023, 03:41 IST

The size of the IoT Integration Market is anticipated to increase from USD 3.2 billion in 2023 to USD 12.1 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 30.8% over the projected period. The seamless linking of various devices, systems, and technologies within the Internet of Things (IoT) ecosystem is referred to as IoT integration. It includes the complex process of integrating sensors, actuators, hardware, software, platforms, and data analytics to facilitate effective data sharing, communication, and collaboration.

IoT integration unites different components into a single network, promoting real-time data transmission and facilitating reasoned decision-making. This integration transforms how businesses run and improves user experiences across a range of industries, including manufacturing, healthcare, smart cities, and agriculture. For the purpose of developing practical, secure, and scalable IoT solutions that take advantage of connectivity's ability to spur innovation and efficiency, it is necessary to use strategic planning, architectural design, and implementation experience.

The IoT Integration Market's smart building and home automation segment is expanding at an impressive rate thanks to the fusion of technologies and the rising desire for better living and working environments. In order to build intelligent, effective, and connected surroundings, this category entails integrating IoT devices, sensors, and systems into residential and commercial settings.

The IoT integration market's industrial production and automation segment is going through a considerable shift as a result of the convergence of IoT technology and the demand for higher manufacturing sector productivity, efficiency, and competitiveness. The use of IoT devices, sensors, data analytics, and automation systems to improve industrial processes, strengthen quality control, and enable predictive maintenance is covered in this category.