The latest research study by IMARC Group, finds that the global IoT monetization market reached a value of US$ 194.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1,548.00 Billion by 2027, exhibiting a CAGR of 38.80% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Industry Definition and Application:
Internet of things (IoT) monetization represents a process of generating revenue by securing and procuring data from IoT-connected devices. It helps companies in gaining an advantage over competitors by using their data effectively. IoT monetization also aids in-depth analysis of data to streamline output, reduce unnecessary expenditures, utilize the positive byproducts to minimize wastes, etc. Apart from this, it also offers several other advantages, such as higher efficiency, improved reengineer operations, new market reach, etc. As a result, IoT monetization finds extensive applications across various sectors, including retail, information technology (IT), manufacturing, transportation, telecommunication, healthcare, banking, financial services and insurance (BFSI), energy, etc.
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Global IoT Monetization Market Trends and Drivers:
The rising focus on developing smart cities and the emerging trend of connected cars are primarily driving the IoT monetization market. In addition to this, the growing usage of IoT solutions in the agriculture industry to obtain data via sensors that monitor storage areas and livestock and track vehicles and field observations is further catalyzing the market growth. Moreover, the increasing utilization of IoT in public transport to control traffic levels and the escalating demand for real-time mapping systems to inform commuters about traffic densities are also augmenting the global market. Apart from this, the elevating adoption of cloud platforms by organizations to securely store their data is anticipated to stimulate the IoT monetization market over the forecasted period.
|IoT Monetization Market Report Scope|
|Market size value in 2021||US$ 194.5 Billion|
|Market forecast in 2027||US$ 1,548.00 Billion|
|Growth Rate||CAGR of 38.80% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Component, Business Function, Deployment Mode, Organization Size, Industry Vertical and Region|
|Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Key companies profiled||Amdocs, Cisco Systems Inc., CSG Systems International Inc., General Electric Company, Infosys Limited, International Business Machines Corporation, Microsoft Corporation, Nokia Corporation, Oracle Corporation, PTC Inc., Samsung Electronics Co. Ltd., Tata Consultancy Services Limited, Telefonaktiebolaget LM Ericsson and Thales Group.|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization preview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
The report has been segmented the market into following categories:
Breakup by Component:
Breakup by Business Function:
- Marketing and Sales
- Supply Chain
Breakup by Deployment Mode:
Breakup by Organization Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by Industry Vertical:
- IT and Telecom
- Transportation and Logistics
- Energy and Utilities
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
List of Major Key Players:
The major players in the market are Amdocs, Cisco Systems Inc., CSG Systems International Inc., General Electric Company, Infosys Limited, International Business Machines Corporation, Microsoft Corporation, Nokia Corporation, Oracle Corporation, PTC Inc., Samsung Electronics Co. Ltd., Tata Consultancy Services Limited, Telefonaktiebolaget LM Ericsson and Thales Group.
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