The latest research study “IoT Monetization Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” 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.
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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COVID-19 Impact on Market: (Positive Impact)
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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.
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Global IoT Monetization Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these top key players include:
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.
The report has segmented the market on the basis of region, component, business function, deployment mode, organization size and industry vertical.
Breakup by Component:
Breakup by Business Function:
• Marketing and Sales
• Supply Chain
The 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
The Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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