IoT Monetization Market – Scenario:
Global IoT monetization market was valued at USD 42.40 billion in 2017 and is expected to reach USD 542.84 billion by 2023, at a CAGR of 52.95% during the forecast period.
According to a new research report from Market Research Future (MRFR). The report from MRFR analyzes the global IoT monetization market from the ground up, providing a comprehensive assessment of the market’s leading drivers and restraints, key segments, and leading market players.
The growing demand for IoT enables home appliances and electronics is likely to be the major driver for the global IoT monetization market over the forecast period. Moreover, the growing demand for larger connected ecosystems such as smart homes and smart cities is likely to be the major driver for the global IoT monetization market over the forecast period, as this is likely to drive the demand for larger IoT ecosystems rather than isolated IoT-enabled products. The use of IoT enabled products in a larger ecosystem is likely to be a key trend for the global IoT monetization market over the forecast period, as this leads to an increased commercial scope for the product developer.
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Leading players in the global IoT monetization market include PTC Inc., Apple Inc., Facebook Inc., Intel Corporation, General Electric Corporation, SAP SE, Microsoft Corporation, Cisco Systems Inc., Amdocs Inc., and Google Inc. As the widespread application of IoT is a matter concerning various fields of technical study, companies from various walks of life are likely to play a leading role in the growth of the IoT monetization market over the forecast period.
In February 2019, Telit, a leading player in the Internet of Things market landscape, announced the launch of OneEdge, which is targeted at speeding up IoT deployment.
In July 2017, Samsung Electronics launched a new data monetization solution for IoT using Samsung ARTIK Cloud.
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.
The global IoT monetization market is segmented on the basis of end use, deployment, and region.
By end use, the global IoT monetization market is segmented into healthcare, automotive, agriculture, consumer electronics, and retail.
By deployment, the global IoT monetization market is segmented into on-premise and cloud.
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IoT Monetization Market Global Market – Regional Analysis
The regional analysis of IoT monetization market is studied for North America, Europe, Asia-Pacific and rest of the world. North America is expected to dominate the IoT monetization market owing to fast adoption of new technology and presence of several IoT companies in this region. Most of the IoT companies present in the US offer a variety of IoT devices for applications in automotive & transportation, industrial, retail, healthcare, consumer electronics, and other sectors.
Asia-Pacific is expected to be the fastest growing region for IoT monetization market owing 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.
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