According to a recent study report published by the Market Research Future, the global market of IoT monetization is forecasted to grow at approximately 43% of CAGR in terms of value surpassing its previous growth records by the end of the forecasted period (2016 – 2022). With such a striking rate of a CAGR, MRFR hopes the Global IoT Monetization Market to reach to ~ 390 Billion by 2022. Major factors such as increasing Internet connectivity, increased use of smartphones & other connected devices, and growing adoption of cloud platforms are the major drivers for the IoT monetization market. IoT monetization is the process of generating revenue for an organization with the help of IoT enabled devices such as smart home, smart appliances, smartphones, smart cameras and others. With new smaller, connected IoT sensors and wearable devices, businesses can cost-effectively monitor, analyze and manage their revenue generating operations. By implementing flexible business models, easy license management, reduced hardware manufacturing and storage cost, organization has been building successful IoT monetization systems.
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The major factor that drives the growth of IoT Monetization market is increasing smartphone users, growing advancement in cloud-based technology, and growing emergence of smart appliances which is useful in building smart cities & offices among others. However, security concern among customers and lack of power-efficient devices are some of the major restraint of the IoT Monetization market growth
IoT Monetization Global Market Segments
The IoT Monetization market can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Deployment : Comprising On-Premise and On-Cloud among others
Segmentation by End-Users : Comprising Healthcare, Automotive, Agriculture, Consumer Electronics and Retail among others.
Segmentation By Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
The major participants of this market are Google Inc. (U.S.), Amdocs, Inc. (U.S.), Cisco systems, Inc. (U.S.), Microsoft Corporation (U.S.), SAP SE (Germany), General Electric Corporation (U.S.), Intel Corporation (U.S.), Facebook Inc. (U.S.), Apple Inc. (U.S.), PTC, Inc. (U.S.) among others.
IoT Monetization Market:
The IoT Monetization can be segmented into deployment and end-users. Deployment of IoT Monetization can be done on-cloud and on-premise methods. End-user segment is categorized into healthcare, automotive, agriculture, consumer electronics and retail among others.
Market Research Analysis:
High penetration of smartphones in consumer market and high adoption of IoT technology in various end user sectors including healthcare, automotive, retail and others, is generating high revenue for IoT device manufacturers. The capability of IoT monetization in providing scalable, open & real-time data analytics and agile architectural features to the companies is supporting the IoT monetization market growth. As the growing adoption of IoT devices is continuously creating opportunities for companies to track and record consumer involvement in the offered IoT enabled products & services which is thereby supporting to estimating and analyzing monetization of the companies. Among regions, North America is expected to dominate the market and Asia-pacific is expected to be the fastest growing region in IoT monetization market. Increasing digitization and growing investment in cloud-based technology by small & medium enterprises is the major reason for the incremental growth of IoT monetization in the Asia-Pacific region.
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May 18, Streamr partners with Nokia and OSIsoft on IoT Data Sharing and Monetization
The blockchain-based data sharing platform Streamr, partnered with Nokia and OSIsoft. These partnerships are expected to build on Streamr’s real-time data marketplace, which would enable producers to connect with consumers via common interface.
July 17, Samsung Electronics Launches New Data Monetization Solution for IoT using Samsung ARTIK™ Cloud
Samsung Electronics Co. Ltd. launched Samsung ARTIK™ Cloud Monetization for the Internet of Things (IoT), a new service to monetize the data shared by IoT devices. With this unique data monetization model, device manufacturers can take advantage of Samsung ARTIK™ Cloud’s extensive interoperability features to generate new revenue streams and implement new business models, such as hardware as a service.
Feb 16, Amdocs unveiled IoT monetization platform for telcos
Customer experience solutions provider Amdocs launched IoT (Internet of Things) monetization platform that could help telecom service providers to unlock new revenue streams. This platform allows service providers to unleash the potential of consumer IoT by supporting multiple additional engagement models, such as white-label billing for the IoT provider, reselling IoT services direct to the consumer, or becoming an IoT services billing provider.
Feb 15, HP helps network operators monetize IoT
Hewlett-Packard announced its “Internet of Things” platform, which enables network operators to manage IoT sensors. This solution provides vertical applications on M2M devices, have the ability to analyze the collected data regarding the performance of these applications via a secure cloud infrastructure, and enable more opportunities for monetization of services in the area of IoT.
Regional Analysis of IoT Monetization Market:
North America is dominating the global IoT monetization market with the largest market share due to presence of large number of IoT companies in the region and growing adoption of new technology by industrial sectors to perform their routine operations and therefore is expected to grow with highest revenue by 2022. Asia-Pacific is the fastest growing region during the forecast period due to increasing adoption of IoT technology in automotive and industrial sectors in the region. Also, growing trend of digitalization in the developing countries such as India & China is fuelling the growth of IoT monetization market.
IoT Device Manufacturers
IoT Associations and Organizations
Research & Consultancy
Table of Contents
1 Market Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.3 Market Structure
List Of Tables
Table 1 Global IoT Monetization Market, By Deployment
Table 2 Global IoT Monetization Market, By End-User
Table 3 Global IoT Monetization Market, By Regions
List Of Figures
Figure 1 Research Deployment
Figure 2 Global IoT Monetization Market: By Deployment (%)
Figure 3 Global IoT Monetization Market: By End-User (%)
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