Global IoT Monetization Market By Application (Retail, Industrial, Automotive & Transportation, Agriculture, Energy, Building & Home Automation, Consumer Electronics, Healthcare, Others), Component (Solutions, Services), Organization Size (Large Enterprises, Small & Medium Sized Enterprise), Business Function (Marketing & Sales, IT, Finance, Supply Chain, Operations), Deployment (On Premise, Cloud), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global IoT Monetization Market
Global IoT monetization market is set to witness a healthy CAGR of 53.19% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rising internet connectivity and increasing usage of smartphones are the factor for the market growth.
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Major Market Competitors/Players
Few of the major competitors currently working in the global IoT monetization market are PTC, IBM Corporation, SAP, Cisco Systems, AMDOCS, Intel Corporation, Oracle, Google, Microsoft, Telefonaktiebolaget LM Ericsson, Tata Consultancy Services Limited, Nokia, Infosys Limited, ARIA SYSTEMS, INC, Gemalto NV, CSG International, SAMSUNG, PortaOne, Inc., Netcracker Technology, Magnaquest Technologies Ltd., JeraSoft, among others.
Global IoT monetization market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of IoT monetization market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Market Definition: Global IoT Monetization Market
IoT monetization is a mechanism that generates IoT-enabled products and services revenue by securing IoT information and generating IoT-enabled system data. They have the ability to provide economic efficiencies and operational to the organization. They are mainly used for business function such as supply chain, operations, marketing & sales, IT and finance. IoT supports companies in monitoring, analyzing and managing their operations generating revenue in a cost-effective way.
- Growing adoption of cloud platforms will drive market growth
- Increasing network of connected devices will also accelerate the growth of this market
- Rising government support to promote digitization acts as a market driver in the forecast period
- Growing usage of IoT monetization in agriculture will also contribute as a factor for the market growth
- Dearth of common communications standard among platforms will restrain market
- Lack of power efficient devices also hinder the growth of this market
- Rising data breaches cases acts as a restricting factor in the growth of the market
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Key Developments in the Market:
- In September 2017, Gemalto NV announced the launch of Sentinel Fit which is a secure licensing solution which is specially designed for Internet of Things devices and software. This new product has the ability to provide complete entitlement management and licensing solutions so they can maximize monetization of software-based products
- In July 2017, Samsung Electronics Co. Ltd announced the launch of their new service for IoT-shared data monetization and IoT data economy Samsung ARTIK™ Cloud Monetization for the Internet of Things (IoT). With unique model of data monetization, device manufacturers can use the robust interoperability capabilities of Samsung ARTIKTM Cloud to create new revenue streams and introduce new business models, such as hardware as a service. This provides device manufacturers with an easy way to interoperate their products with third-party apps and applications, and monetizes data use
Segmentation: Global IoT Monetization Market
- Retail, Industrial
- Automotive & Transportation
- Building & Home Automation
- Consumer Electronics
By Organization Size
- Large Enterprises
- Small & Medium Sized Enterprise
By Business Function
- Marketing & Sales
- Supply Chain
- On Premise
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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