IoT (Internet of Things) Monetization Market Trends, Growth, Analysis and Foreca
Posted by farazp70 on June 30th, 2020
Internet of Things (IoT) monetization market is expected to grow impressively over the forecast period 2019-2025. The internet of things (IoT) is a system comprising of interrelated computing devices, mechanical and digital machines, and objects that are capable of transferring a set of data over a network. These objects are provided with unique identifiers (UIDs) and operate without requiring a human-to-human or human-to-machine interface. Over the last decade, IoT has defined a trend of generating trillions from billions of connected devices by leveraging the information or data generated by these devices. The stored or generated data is further used by companies to bring in innovation and automation in their business. Thereby, increasing the revenue of companies and ultimately enabling them to grow. This revenue generation by the companies leveraging the stored data or information on IoT devices is termed as Internet of Things monetization.
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Key market players include Amdocs Ltd., Microsoft Corp., Cisco, IBM Corp., Oracle Corp., SAP SE, IBM Corp., Intel Corp., Telefonaktiebolaget LM Ericsson, and others.
Major factors augmenting the growth of the market include increasing internet connectivity, surging use of smartphones and other connected devices, growing adoption of cloud platforms, and evolution of high-speed networking technologies. However, factors such as lack of common communication standards across platforms, and lack of power-efficient devices are expected to create hindrance in the market over the forecast period. Besides, significant government funding for R&D in IoT across the globe is promising ample opportunities to the market.
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Furthermore, the market has been analyzed, on the basis of regions, into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America region is expected to be the dominating region over the forecast period. Europe is expected to follow North America in terms of revenue generation, contributing significantly towards the growth of the market. Moreover, the Asia-Pacific region is expected to be the fastest growing region over the forecast period. Additionally, the market consists of several small to large players that are significantly operating in the market and providing services to cater to a wide range of customers across the globe.
Global IoT Monetization Market by Application
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