IoT Monetization Market By Component (Solution, Service), By Business Function (Marketing and Sales, IT, Finance, Supply Chain, Operations), By Organization Size (Large Enterprises, Small and Medium sized Enterprises), By Industry Vertical (Retail, IT and Telecom, Manufacturing, Transportation and Logistics, Healthcare, BFSI, Energy and Utilities, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
IoT monetization refers to the process of generating revenue from Internet of Things (IoT) deployments and initiatives. It involves identifying and implementing strategies to capitalize on the data, services, and value created by IoT-enabled devices and systems. In addition, IoT monetization encompasses various approaches, including pricing models, subscription plans, data monetization, value-added services, and partnerships, aimed at maximizing the financial returns from IoT investments. Adopting IoT monetization strategies can give businesses a competitive edge by offering innovative products and services.
Rise in market for smart cities and connected cars and growth in penetration of IoT, thus drive the growth of the market. In addition, a major shift from cost savings to revenue generation and a continuous rise in the volume of enterprise data drives the growth of the market during the forecast period. However, lack of strategic decisions and standards, and privacy and security concerns constraints hamper the growth of the market. Furthermore, the growing ecosystem of IoT platforms and service providers provides opportunities for IoT monetization vendors to expand their customer base. Moreover, rise in adoption of cloud platforms and increase in internet connectivity are the major factors that drive the growth of the global IoT monetization market. In addition, surge in use of consumer electronics devices is expected to fuel the growth of the global IoT monetization market. Furthermore, an increase in number of smart lighting and smart city projects is anticipated to provide lucrative growth opportunities for the global IoT monetization market in the upcoming years.
Furthermore, the adoption of IoT monetization solutions has increased in the automotive & transportation industry as the automotive manufacturers are extensively using IoT, which fuels the growth of the market. It is easier to support cities, towns, and states, globally to meet the rise in demand for surface transportation systems through connected cars and intelligent transportation systems such as sensors and communication & traffic control technologies. Consumer electronics is also one of the emerging application segments of the IoT monetization market and is anticipated to grow during the forecast period due to the increase in number of smart appliances that can be connected to smartphones and the Internet.
The IoT monetization market is segmented into component, organization size, industry vertical, business functions, and region. In terms of component, the market is bifurcated into solutions and services. Based on organization size, it is classified into large enterprises and small & medium sized enterprises. As per industry vertical, it is divided into retail, IT & telecom, manufacturing, transportation & logistics, healthcare, BFSI, energy & utilities, and others. According to business function, the market is classified into marketing & sales, IT, finance, supply chain, and operations. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global IoT monetization market is dominated by key players such as Amdocs, Inc., IBM Corporation, Ericsson, SAP SE, Oracle, Thales Group, Cisco Systems, Inc., Aria Systems, Inc., Intel Corp., and General Electric Co. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the IoT monetization market globally.
KEY BENEFITS FOR STAKEHOLDERSThe study provides an in-depth analysis of the IoT monetization market forecast along with the current and future trends to explain the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on IoT monetization market trends is provided in the report.
The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the IoT monetization market from 2022 to 2032 is provided to determine the market potential.
Key Market SegmentsBy Industry VerticalRetail
IT and Telecom
Manufacturing
Transportation and Logistics
Healthcare
BFSI
Energy and Utilities
Others
By ComponentSolution
Service
By Business FunctionMarketing and Sales
IT
Finance
Supply Chain
Operations
By Organization SizeLarge Enterprises
Small and Medium sized Enterprises
By RegionNorth America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Cisco Systems, Inc.
Thales Group
Oracle Corporation
IBM Corporation
SAP SE
Intel Corporation
General Electric Co.
Microsoft Corporation.
Amdocs, Inc.
Telefonaktiebolaget LM Ericsson
Please Note: It will take 7-10 business days to complete the report upon order confirmation.