According to the latest report by IMARC Group, the global IoT monetization market size 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.
| Report Metric |
| Historical: 2016-2021 |
| Base Year: 2021 |
| Forecast Year: 2022-2027 |
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.
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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.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global IoT Monetization Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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:
- Solution
- Services
Breakup by Business Function:
- Marketing and Sales
- IT
- Finance
- Supply Chain
- Operations
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Organization Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by Industry Vertical:
- BFSI
- Retail
- IT and Telecom
- Manufacturing
- Transportation and Logistics
- Healthcare
- Energy and Utilities
- Others
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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