Global IoT Monetization Market Size Was Worth USD 23.09 Billion in 2015 and Is Projected to Grow to USD 443.27 Billion by 2022

October 22, 2021, New York, USA -

IoT Monetization: Introduction

Since the introduction of the Internet, all devices in our daily lives are now connected. In the wake of the explosion of the IoT, various homes and offices have been made smarter - functioning via connected devices. The increased use of smart devices, such as tablets and smartphones, has increased the need for IoT commercialization. It's an increasing trend and is turning into an essential business opportunity for many, and it is opening the door to future growth.

The IoT market for monetization is classified on the basis of applications into home automation and building as well as retail, agriculture, transportation and automotive, industrial, consumer electronics energy, and others.

The Global IoT Monetization Market Forecast: 

The global IoT monetization industry was estimated at USD 23.09 billion as of 2015, and it is predicted to grow to USD 443.27 billion in 2022. This is an annual rate of 52.98 percent over the forecast time. The base year in this study is 2015, and the forecast period is from 2016 until 2022.

Internet of things (IoT) has been an industry-defining trend over the past decade, with billions of dollars in revenue anticipated through billions of devices connected. The connected devices are expected to produce a massive amount of data that can be used by businesses to drive technology and automate their business. Increased revenue through the usage of IoT will help various applications grow. The upcoming technology is ready to bring about changes in the method of life and working of human beings, creating a new era in interactions between machines and humans.

Market Trend and Dynamics of the Global IoT Monetization Market:

The world IoT market for monetization is receiving a boost from the increased usage of mobile phones and devices connected to the Internet, as well as the increasing Internet connectivity and a rise in the use of cloud-based platforms. Additionally, the government's encouragement of regulations as well as the demand for energy-efficient devices and better security of homes and building automation software, and rising demands for smartphones and other smart gadgets, such as tablets and smartphones, are accelerating the development of this market. However, other things like the lack of energy-efficient devices and the absence of standard communication protocols across different platforms are hindering the IoT growth of the monetization market.

As far as application, this segment is predicted to help in the growth of the market. Through connected vehicles and intelligent transportation systems like sensors, communication and traffic control techniques that make it easier to assist cities, towns, and states cities across the globe to meet the increasing demand for transportation systems that are surface-based. Automotive manufacturers are embracing IoT, and this drives an increase in demand for IoT commercialization.

Consumer electronics are becoming a significant application sector. The market for consumer electronics that are smart is anticipated to grow with the growing use of smart office buildings, intelligent cities as well as smart homes. The application market for consumer electronics is predicted to grow over the forecast time frame due to the increasing number of smart devices that are connected to smartphones as well as the Internet.

Market Analysis based on Geographical and Vendor Segmentation:

The Global Internet of Things Monetization Market: Geographical Evaluation

Based on the geography in the world, the IoT market for monetization is classified by geography into Europe, Asia Pacific, North America, and the Rest of the World. It is predicted to be that North America will account for significant proportions of the total market as well as show significant growth throughout the forecast time. Within North America, the U.S. is one of the major contributors to the IoT market for monetization. Factors such as the presence of a variety of IoT firms in the area as well as the rapid adoption of the latest technologies by the general public drive this market in North America. A number of IoT companies operating within the U.S. offer a variety of IoT products for use in the transportation and automotive industries as well as retail, industrial healthcare, consumer electronics, healthcare and many other areas.

Another major market driver has to be the Asia Pacific. Recent technological advancements, a rise in disposable income, the increased use of smartphones, and improved Internet connectivity are a few of the factors that are positively impacting the region's growth.

Global IoT Monetization Market: Vendor Landscape:

The report examines several of the major firms operating in the marketplace. It also gives insight into the risks and opportunities the businesses are expected to face in the next few decades. Tata Consultancy Services, PTC, Inc., Google Inc., General Electric Co., Intel Corp., Microsoft Corp., Cisco Systems, Inc., SAP SE, Amdocs Ltd, BM Corp., Oracle Corp., and Infosys Ltd., as well as Robert Bosch GmbH, are a handful of prominent players globally in IoT market for monetization.

The report provides an extensive analysis of the current market. It does it through in-depth qualitative analysis as well as historical data and reliable projections of market size. The projections that are included in the report are constructed using established research methods along with preposterous assumptions. By doing this, the report acts as a source of information and analysis on all aspects of the market, including but not only limited to: Regional markets, technologies types, applications, and others.

The Key Market Segmentation of the Global IoT Monetization Market: 

Global Iot Monetization Market can be divided into Organization Size, Component, Business Function, Industry Vertical and Geographical landscapes, etc. 

IoT Monetization Market Segmentation By Organization Size:

LARGE ENTERPRISES

SMALL AND MEDIUM ENTERPRISES (SME'S)

IoT Monetization Market Segmentation By Industry Vertical:

Retail

IT & Telecom

Manufacturing

Transportation & Logistics

Healthcare

BFSI

Energy & Utilities

Others

IoT Monetization Market Segmentation By Component:

Solution

Services

IoT Monetization Market Segmentation By Business Function:

Marketing & Sales

IT

Finance

Supply Chain

Operations

IoT Monetization Market Segmentation By Geographical Landscape:

North America

Europe

Asia Pacific

South America

The Middle East and Africa

Major Key Players in the Global IoT Monetization Market Are:

AMDOCS

IBM CORPORATION

ARIA SYSTEMS, INC.

INTEL CORP.

ERICSSON

GEMALTO NV

CISCO SYSTEMS, INC.

SAP SE

ORACLE CORPORATION

GENERAL ELECTRIC CO.

The Global IoT Monetization Market Report Highlights:

It is estimated that the IoT commercialization market APAC is expected to expand at a rapid pace between 2016 to 2022. The rising usage of IoT in automotive and industrial and transportation applications in APAC is driving demand in the region. The government's strong support in nations like China as well as India to profit from the digital revolution is also helping the development that the IoT market is experiencing in APAC.

In September, SAP SE, Nippon Telegraph, and Telephone Corporation (Japan) joined forces to develop an IoT solution to connect safety solutions for transportation for analyzing and collecting information related to vehicles using NTT's history. It is a sensing fabric jointly developed made by Toray Industries, Inc. (Japan) and NTT.

In June of 2016, PTC unveiled an agile software solution called Agileworx during a business conference known as LiveWorx, which was held in Massachusetts. The solution will help teams in the engineering of products to improve their products and increase the time to market.

In June of 2016, Cisco collaborated with IBM Corp. (U.S.) to offer solutions in IoT. Through this partnership, companies and business organizations in remote or autonomous areas will benefit from the potential that comes from IBMs Watson IoT and business analytics tools and Cisco's advanced analytics capabilities.