'Increasing Internet connectivity and rising adoption of smarter technologies are the major drivers for the IoT monetization market.'
The IoT monetization market was valued at USD 23.09 billion in 2015 and is expected to reach USD 443.27 billion by 2022, at a CAGR of 52.98% during the forecast period. The increasing Internet connectivity, increased use of smartphones and other connected devices, and growing adoption of cloud platforms are the major drivers for the IoT monetization market. Factors such as lack of common communication standards across platforms and lack of power-efficient devices are restraining the growth of the IoT monetization market.
'IoT monetization market for building & home automation applications is expected to grow at a high rate during the forecast period.'
The growing demand for reliable energy-efficient systems and enhanced home security levels worldwide is driving the growth of the IoT monetization market for building & home automation applications. Favorable government regulations and the growing trend of integrating smart devices such as smartphones and tablets are also boosting the growth of the market. The rising necessity for convenience, safety and security, and product development in IoT & M2M communication is also contributing to the growth of the market.
'IoT monetization market for industrial applications is expected to witness a high growth during the forecast period.'
The IoT monetization market for industrial applications is expected to grow at an exponential rate during the forecast period. IoT plays a key role in industrial applications. IoT is used to optimize production processes and also to monitor the entire lifecycle of objects-from production to dumping.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key people in the IoT industry. The break-up of primary participants has been shown below:
- By Company Type: Tier 1 - 35 %, Tier 2 - 45%, and Tier 3 - 20%
- By Designation: C-Level Executives - 35%, Directors - 25%, and Others - 40%
- By Region: North America - 45%, Europe - 20%, APAC - 30%, and RoW - 5%
The report also profiles the key players in the IoT monetization market. The prominent players profiled in this report are PTC, Inc. (U.S.), IBM Corp. (U.S.), Intel Corp. (U.S.), Cisco Systems, Inc. (U.S.), General Electric Co. (U.S.), Oracle Corp. (U.S.), Google Inc. (U.S.), Microsoft Corp. (U.S.), SAP SE (Germany), and Amdocs Ltd. (U.S.).
This research report categorizes the IoT monetization market on the basis of application and geography. It also provides the Porter's five forces analysis, along with the description of each of its forces and their impact on the IoT monetization market. The report also discusses major drivers, restraints, challenges, and opportunities for the market.
Reasons to buy the report:
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the IoT monetization market comprehensively and provides the closest market size estimation for major applications across various regions.
2. The use-cases for the applications and various case studies have been included in the report to provide a practical view of the IoT monetization market.
3. The report would help stakeholders understand the pulse of the market and provide them with the information on drivers, restraints, challenges, and opportunities for the market.
4. This report would help the stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.