New York, NY, Aug. 27, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “IoT Monetization Market By Component (Solution and Services), By Business Function (Marketing & Sales, IT, Finance, Supply Chain, and Operations), By Vertical (Retail, IT & Telecom, Manufacturing, Transportation & Logistics, Healthcare, BFSI, Energy & Utilities, and Others), and By Organization Size (SMEs and Large Enterprises): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global IoT monetization market was USD 80.2 billion in 2018 and is expected to reach around USD 1,533 billion by 2025, at a CAGR approximately 52.4% between 2019 and 2025.
IoT monetization is a platform used for pricing, charging, settlement, billing, and customer care. Emerging businesses and enterprises are focusing on IoT monetization for using the opportunity for their competitive advantages.
Browse through 71 Tables & 35 Figures spread over 168 Pages and in-depth TOC on “Global IoT Monetization Market: By Components, Type, Industry Size, Share, Trends, Growth, Analysis and Forecast, 2018–2025”.
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The IoT monetization market is gaining popularity globally, due to its increasing demand by enterprises, industries, and businesses that are working on implementing the process of IoT monetization to efficiently manage work and generate revenue. IoT is playing a crucial role in monetization and has secured its place in numerous sectors, such as retail, home automation, etc. Other growth factors propelling the IoT monetization market include growing smartphone user base, increasing advancements in technology related to on cloud, and the ongoing emergence of smart appliances for building offices and smart cities. Advanced connected IoT wearable and sensors will help businesses with analyzing, monitoring, and revenue management in a cost-effective manner. This can be attained by implementing easy license management, flexible business models, and reduced hardware storage. However, the lack of common communication standards across platforms, increasing security issues, lack of IoT standards across several platforms, and rising privacy concerns may limit the IoT monetization market growth.
By vertical, the market includes retail, BFSI, IT and telecom, transportation and logistics, manufacturing, healthcare, energy and utilities, and others. The retail sector will hold a significant market share, owing to the rising smartphone adoption and growing construction of smart cities, smart offices, and buildings. Moreover, the manufacturing segment is expected to grow notably, owing to the various advantages of IoT monetization solutions like reduced cost, streamlined operations, enhanced retention and acquisitions, and source of revenue insight generated by product development processes and instrumented products.
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North America will witness notable growth in the IoT monetization market globally, owing to the early implementation of IoT and industry 4.0 by numerous industries. Moreover, the adoption of IoT in factories to convert them into smart factories will also accelerate the region’s IoT monetization market growth. The market is likely to grow further due to the huge investments to enhance IoT-based processes. Furthermore, IoT has changed the business execution method by entirely transforming business models. For instance, in case of PaaS (Product as a Service), an OEM makes a device, but instead of charging the customer directly, it allows payment through flexible models, such as pay-per-use, monthly, metered, etc. Additionally, concerns related to property and life insurance is predicted to boost this regional market over the estimated time period. Moreover, some of the IoT monetization companies in North America are opting for merger and acquisition strategies to enhance their M2M technologies and monetization of IoT technologies.
Europe is estimated to hold a substantial share of the IoT monetization market over the forecast time period. Ericsson's IoT monetization solution will help companies to exert full control over revenue streams and enable price-per-use for any service, industry, and business model. The regional governments are investing in R&D in the automobile sector for microelectronic and smart vehicles, mainly focusing on advanced optical equipment, energy-efficient chips, and smart sensors, thereby increasing the penetration of IoT monetization market in Europe.
Browse the full “IoT Monetization Market By Component (Solution and Services), By Business Function (Marketing & Sales, IT, Finance, Supply Chain, and Operations), By Vertical (Retail, IT & Telecom, Manufacturing, Transportation & Logistics, Healthcare, BFSI, Energy & Utilities, and Others), and By Organization Size (SMEs and Large Enterprises): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/iot-monetization-market
IoT monetization market in the Asia Pacific is anticipated to witness substantial growth over the predicted timeframe, owing to the surging deployment of IoT in the region’s automotive, industrial, and transportation sectors. The strong financial support provided by the government in India and China for the development and advancement to expand IoT monetization usage across various sectors is also fuelling this regional market. Additionally, the increasing penetration of mobile IoT and rising demand for IoT monetization in China are expected to further boost the IoT monetization market growth in the region.
The Latin American IoT monetization market will witness considerable growth over the anticipated time period. Brazil, Argentina, and Mexico will show major growth market growth in the years ahead.
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Some noticeable players of the IoT monetization market are PTC, IBM, Cisco Systems, Intel, General Electric, Oracle, SAP, Google, Microsoft, and Amdocs.
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This report segments the global IoT monetization market into:
Global IoT Monetization Market: Component Analysis
- Solutions
- Services
Global IoT Monetization Market: Business Function Analysis
- Marketing and Sales
- IT
- Finance
- Supply Chain
- Operations
Global IoT Monetization Market: Vertical Analysis
- Retail
- IT and Telecom
- Manufacturing
- Transportation and Logistics
- Healthcare
- BFSI
- Energy and Utilities
- Others
Global IoT Monetization Market: Organization Size Analysis
- SMEs
- Large Enterprises
Global IoT Monetization Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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