March 18, 2020

IoT Monetization Market 2020 Worldwide Industry Analysis and New Market Opportunities Explored 2023

IoT Monetization Market – Overview

The global IoT monetization market is expected to reach a valuation of USD 390 billion by the end of the forecast period in 2023. The market valuation will jump from its previous 2017 figure of USD 42.40 billion at a CAGR of 43%.

Market Research Future (MRFR) reported that various key factors are driving the global IoT monetization market. The increasing use of smartphones and other connected devices, increasing internet connectivity, and a burgeoning adoption rate of varying cloud platforms are some of the major contributing factors driving the global IoT monetization market. The rising number of smart cities and smart lighting projects is also anticipated to expand the market opportunities of the global market. The market is significantly driven by the increasing number of smartphone users across the globe.

However, the lack of common communication standards across different platforms and the absence of power-efficient devices are some of the key factors that are anticipated to majorly hamper the growth of the market in the coming years.

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Competitive Landscape

The global IoT monetization market includes various key players. This includes key names such as Facebook Inc. (U.S.), Cisco systems, Inc. (U.S.), Google Inc. (U.S.), SAP SE (Germany), Amdocs, Inc. (U.S.), Intel Corporation (U.S.), Microsoft Corporation (U.S.), PTC, Inc. (U.S.), General Electric Corporation (U.S.), Apple Inc. (U.S.), and others.

IoT Monetization Market Key players

The players who are contributing substantially to the IoT monetization market are Apple Inc. (U.S.), Amdocs, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Google Inc. (U.S.), SAP SE (Germany), Intel Corporation (U.S.), Microsoft Corporation (U.S.), General Electric Corporation (U.S.), Facebook Inc. (U.S.), PTC, Inc. (U.S.) and others.

IoT Monetization Market Competitive Analysis

The market competitors find themselves in a promising position with the capacity to handle the pace of change. The contestants are dynamically addressing the challenges to growth and are creating strategies that can have the best overall effect on the market's development. The competitive outlook for the market is projected to diversify extensively in the coming period. The developments in the market are likely to be fuelled by the rise in investments and product inventions. The market influencers are taking an interest in the making of strong value chains that can yield increased profits. The prospects for growth in the market have ample room for growth in the forecast period. The perceived propensity for the market’s growth has improved following the accessibility to positive aspects in the market.

IoT Monetization Market Segmental Analysis

The segmentation of the IoT monetization market globally is carried out on the basis of deployment, end-user, and region. On the basis of deployment, the IoT monetization market is segmented into on-cloud and on-premise among others. Based on the End-Users, the IoT monetization market is segmented into automotive, Healthcare, Agriculture, Consumer Electronics and Retail among others. The regions included in the IoT monetization market are Asia Pacific, Europe, North America and the rest of the world.

IoT Monetization Market Industry updates:

Feb 2020 Telit has recently announced Telit One Edge, which is an initiative is created to speed up IoT deployments and decrease the time necessary to monetize the digitalization of businesses. OneEdge is a software suite creating solutions for a new generation of Telit’s cellular LPWA IoT modules. The use of secure tools simplifies the deployment, design, and management of IoT products and solutions allowing a jump into the new 5G super-connected world. OneEdge also addresses challenges related to scalability, integration, management, and costs that solution architects and their enterprise customers face while implementing IoT to their businesses.

Feb 2020, one of the global leaders in the Internet of Things (IoT) landscape, Telit, announced the launch of a new initiative named Telit OneEdge. The initiative is developed to speed-up IoT deployments and curb down the time consumption required for monetizing digitalization businesses.

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IoT Monetization Market Detailed Regional Analysis

The region-based evaluation of the IoT monetization market includes regions such as Asia Pacific, Europe, North America and the rest of the world. The North American region is controlling the IoT monetization market globally with the major market stake owing to the existence of a great number of IoT companies in the region and the mounting implementation of new technology by industrial sectors to achieve their routine operations and thus is anticipated to develop with the maximum revenue by 2022. The AsiaPacific region is the swiftest region in terms of growth during the forecast period owing to the growing implementation of IoT technology in the industrial and automotive sectors in the region. Also, the increasing trend of digitalization in emerging countries such as India & China is motivating the development of IoT monetization market globally.

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