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2018
Iot Monetization Market

IoT Monetization Market by Component (Solution and Services), Organization Size (Large Enterprises and Small & Medium Sized Enterprises), Industry Vertical (Retail, IT & Telecom, Manufacturing, Transportation & Logistics, Healthcare, BFSI, Energy & Utilities, and Others), and Business Function (Marketing & Sales, IT, Finance, Supply Chain, and Operations): Global Opportunity Analysis and Industry Forecast, 2018 - 2025
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A03954
Pages: 230
Nov 2018 | 10707 Views
Author(s) : Rachita Rake
Tables: 114
Charts: 76
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IoT Monetization Market Statistics - 2025

The global IoT monetization market size was valued at $44,198 million in 2017 and is projected to reach $1,361,395 million by 2025, growing at a CAGR of 53.6% from 2018 to 2025. North America dominated the overall market in 2017, as the U.S. is a major contributor to the growth of the IoT monetization market in North America. Also, the dominance of this region is primarily due to fast adoption of new technology by the masses and presence of several IoT monetization companies. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period primarily due to growing adoption of IoT-enabled devices in emerging economies such as China and India.

IoT monetization is a process that genres revenue from the IoT-enabled products and services by securing the IoT data and generating the data from IoT connected devices. Numerous benefits provided by IoT monetization solutions such as efficiency, cost-cutting, improved reengineer operations, reach new market, and others drive the growth of the global IoT monetization market. Owing to increasing deployment of IoT devices in various application sectors such as healthcare, retail, automotive, transportation, and others large volume of unstructured data is generated, which in turn is increasing the demand for monetization of IoT devices and data stored in them. 

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The solution segment dominated the overall IoT monetization market share in 2017 and is expected to continue this trend during the forecast period due to increasing adoption of IoT monetization solutions among organizations, as they are finding ways to monetize IoT through revenue-generating products and services or to differentiate their core products and services offerings.

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The manufacturing segment dominated the overall IoT monetization market in 2017 and is expected to continue this trend during the forecast period due to numerous benefits of IoT monetization solutions in manufacturing industry such as streamline operations, reduced cost, improved customer acquisition and retention, and new sources of revenue from the insights generated by instrumented products and product development processes.

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The report focuses on the growth prospects, restraints, and trends of global IoT monetization market. The study provides Porter’s five forces analysis of the IoT monetization industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the monetization market growth.

Segment review

The global IoT monetization market is segmented based on component, organization size, industry vertical, business function, and region. In terms of component, the market is segmented into solutions and services. On the basis of organization size, the market is segmented into large enterprises and small & medium sized enterprises. Based on industry verticals, the market is divided into retail, IT & telecom, manufacturing, transportation & logistics, healthcare, BFSI, energy & utilities, and others. On the basis of business function, the market is classified into marketing & sales, IT, finance, supply chain, and operations. The regions expected to observe major growth in the IoT monetization market are North America, Europe, Asia-Pacific, and LAMEA.

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The key players under global IoT monetization market analysis include Amdocs, IBM Corporation, Ericsson, SAP SE, Oracle, Gemalto NV, Cisco Systems, Inc., ARIA SYSTEMS, INC., Intel Corp., and General Electric Co.

Top Impacting Factors

Rising market for smart cities and connected cars, growing adoption of IoT monetization in agriculture, and increasing usage of smart devices such as tablets and smartphones are expected to drive the market growth. However, lack of IoT standards across platforms and rise in privacy as well as security concerns are expected to hamper the growth of the global IoT market during the forecast period. Furthermore, growing investments in the IoT monetization market is expected to provide lucrative opportunities for the growth of the global market.

Rising market for smart cities and connected cars

The factor that drives the growth of the global IoT monetization market includes increase in adoption of IoT in public transport due to emergence of smart cities. Therefore, developers are looking at ways to create a platform that takes a large number of variables into account to control traffic more efficiently. This platform includes vehicles, people, traffic lights, weather, timing, and all the data that can have an impact on traffic to create an online system with public access. A real-time map will inform commuters of traffic densities in various parts of the city, allowing them to make better decisions about the route. Creating this kind of transport network will require immense amount of data transfer in real time and its analysis, which can be provided by IoT monetization.

Growing adoption of IoT monetization in agriculture

Smart farming through the application of information and communication technologies that include IoT is expected to revolutionize the global agricultural landscape, making it more resource-efficient and productive. The agriculture industry and automation suppliers are exploring new opportunities by using IoT and digital solutions for improving yields, profitability, and farming practices. Also, IoT has wide scope in precision farming. The goal of precision farming is to generate data via sensors that monitor livestock, track vehicles, take field observations, and monitor storage areas. The Sensors can be mounted on animals that monitor their health. If an animal becomes sick, it can be quickly separated from the herd to prevent the spread of disease. Sensors can also monitor crop fields for signs of pest-infestation and weed growth, enabling farmers only to apply pesticides and herbicides in the required locations. Controllers can help farmers drive tractors remotely while drones can monitor large areas of cultivated land in a very short amount of time. Due to the emergence of IoT in the agriculture industry, the IoT monetization market size is expected to foresee numerous opportunities during the forecast period.

Key Benefits for IoT Monetization Market:

  • This study includes the analytical depiction of the global IoT monetization market trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities.
  • The current market is quantitatively analyzed from 2017 to 2025 to highlight the financial competency of the industry.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the global IoT monetization industry.

Key Market Segments & Key Market Players

Segments Sub-segments
By Component
  • Solution
  • Services

By Organization Size
  • LARGE ENTERPRISES
  • SMALL AND MEDIUM ENTERPRISES (SME’S)

By Industry Vertical
  • Retail
  • IT & Telecom
  • Manufacturing
  • Transportation & Logistics
  • Healthcare
  • BFSI
  • Energy & Utilities
  • Others

By Business Function
  • Marketing & Sales
  • IT
  • Finance
  • Supply Chain
  • Operations

By Region
  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Market Players
  • AMDOCS
  • IBM CORPORATION
  • ERICSSON
  • SAP SE
  • ORACLE CORPORATION
  • GEMALTO NV
  • CISCO SYSTEMS, INC.
  • ARIA SYSTEMS, INC.
  • INTEL CORP.
  • GENERAL ELECTRIC CO.
 

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The demand for the global IoT monetization market is increasing due to rising demand for image recognition in the consumer electronics devices. The increase in use of consumer electronics in the development of smart buildings, smart cities, and smart offices is expected to boost the growth of the global IoT monetization market. Also, with the emergence of a number of smart appliances, which can connect to the Internet and smartphones, the demand for IoT monetization in consumer electronics applications is expected to grow during the forecast period. Furthermore, the major factor that drives the growth of the global IoT market includes smart home and energy consumption technologies.

The global IoT Monetization market is highly competitive due to the presence of strong position of the existing vendors. These companies have economies of scale and a huge geographical presence. Some of the key players profiled in the report include Amdocs, IBM Corporation, Ericsson, SAP SE, Oracle, Gemalto NV, Cisco Systems, Inc., ARIA SYSTEMS, INC., Intel Corp., General Electric Co., and others. These players have adopted various strategies to enhance their product & service offerings and increase their market penetration. For instance, in September 2017, Gemalto has launched smallest footprint solution “Sentinel Fit” to monetize IoT device software. It offers a complete licensing and entitlement management solution to maximize monetization of software-based products, for even the smallest of IoT devices and intelligent machines.

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