Research Nester released a report titled “IoT Monetization Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers the detailed overview of the global IoT monetization market in terms of market segmentation by component, organization size, application, business function, deployment, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The IoT monetization market is anticipated to expand at a CAGR of around 54% over the forecast period i.e. 2019-2027. The growth of the market is driven by rising adoption of cloud platforms across various industries on the back of their ability to benefit the organizations to access data on cloud platform from anywhere around the globe. Additionally, rise in high speed internet connectivity, along with increase in the number of connected devices around the globe are the major reasons behind the growing adoption of cloud platforms in various industries, which is further expected to contribute to significant growth of the market in upcoming years.
The global IoT monetization market is bifurcated by deployment into on premise and cloud, out of which, the cloud segment is anticipated to grow at substantial rate on account of rising adoption of cloud platforms across numerous companies on the back of their ability to improve efficiency and scalability in business operations. Based on applications segment, it is sub-segmented into agriculture, energy, healthcare, IT, manufacturing, BFSI and others, out of which the manufacturing segment is expected to hold significant share in the global IoT monetization market owing to increased productivity and cost efficacy on adoption of IoT solutions in the manufacturing sector.
Regionally, the global IoT monetization market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa, out of which, the market in North America is expected to hold major share during the forecast period which can be attributed to increased research and development activities, early adoption of new and advanced technology across multiple end-users and presence of major key players in the region.
Increased Internet Connectivity and Growing Adoption Of Cloud Platform
The ability of IoT to connect various physical devices and objects around the globe on the back of increasing internet connectivity and penetration of IoT devices in most of the industrial applications are among the contributing factors behind the increased adoption of cloud platform. Additionally, growing support and initiatives by government bodies in various countries pertaining to their funding in IoT projects is predicted to boost the growth of IoT monetization market during the forecast period.
However, the challenges faced by different organizations on account of lack of universally accepted standards for adoption of IoT devices along with increasing incidences of data breaches are some of the restraining factors that might negatively affect the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global IoT monetization market which includes company profiling of key companies such as Amdocs (NASDAQ: DOX), ARIA SYSTEMS, INC., Cisco Systems, Inc.( NASDAQ: CSCO), Ericsson (STO: ERIC-B), IBM(NYSE: IBM), General Electric Co (NYSE: GE), Google (NASDAQ: GOOGL), Oracle (NYSE: ORCL), Gemalto NV (OTCMKTS: GTOMY), SAP SE (ETR: SAP) and Samsung (KRX: 005930). The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global IoT monetization market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.