The IoT monetization solutions provide efficient operational and economic solutions to the organization on the back of their ability to monitor, analyze and manage revenue-generating operations in a cost effective manner. The IoT monetization market is anticipated to witness significant opportunities and is estimated to grow at a CAGR of around 54% over the forecast period i.e. 2019-2027. This growth can be attributed to increase in high speed internet connectivity, along with rise in the adoption of connected devices around the globe.
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Geographically, the global IoT monetization market is segmented by five major regions including North America, Latin America, Europe, Asia-Pacific and Middle East and Africa, out of which, the market in North America is expected to hold major share during the forecast period. This can be attributed to the presence of major key players and increased rate of research and development activities in the region.
Further, the market in Asia Pacific is predicted to expand with highest growth rate owing to increased adoption of IoT and the presence of emerging economies of countries like India and China.
Growing Technological Advancements
Increasing rate of technological advancements and adoption of cloud platform across various industries and smart city projects on the back of integrated IoT and its applications are providing lucrative growth opportunities in the global IoT monetization market. Moreover, growing government initiatives to promote digitalization in order to generate value-producing opportunities is predicted to boost the growth of IoT monetization market during the forecast period.
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However, the challenges faced by different organizations on account of increasing incidences of data breaches might restrain the growth of the market during the forecast period.
Major Key Players:
- Amdocs (NASDAQ: DOX)
- ARIA SYSTEMS, INC.
- Cisco Systems
- Ericsson (STO: ERIC-B)
- IBM(NYSE: IBM)
- General Electric Co (NYSE: GE)
- Google (NASDAQ: GOOGL)
- Oracle (NYSE: ORCL) and Gemalto NV (OTCMKTS: GTOMY)
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