IoT monetization refers to the process of generating revenue from Internet of Things (IoT) deployments and initiatives. It involves identifying and implementing strategies to capitalize on the data, services, and value created by IoT-enabled devices and systems. In addition, IoT monetization encompasses various approaches, Including pricing models, subscription plans, data monetization, value-added services, and partnerships, aimed at maximizing the financial returns from IoT investments. Adopting IoT monetization strategies can give businesses a competitive edge by offering innovative products and services.
Rise in market for smart cities and connected cars and growth in penetration of IoT, thus drive the growth of the market. In addition, a major shift from cost savings to revenue generation and a continuous rise in the volume of enterprise data drives the growth of the market during the forecast period. However, lack of strategic decisions and standards, and privacy and security concerns constraints hamper the growth of the market. Furthermore, the growing ecosystem of IoT platforms and service providers provides opportunities for IoT monetization vendors to expand their customer base. Moreover, rise in adoption of cloud platforms and Increase in internet connectivity are the major factors that drive the growth of the global IoT monetization market. In addition, surge in use of consumer electronics devices is expected to fuel the growth of the global IoT monetization market. Furthermore, an Increase in number of smart lighting and smart city projects is anticipated to provide lucrative growth opportunities for the global IoT monetization market in the upcoming years.
Furthermore, the adoption of IoT monetization solutions has Increased in the automotive & transportation industry as the automotive manufacturers are extensively using IoT, which fuels the growth of the market. It is easier to support cities, towns, and states, globally to meet the rise in demand for surface transportation systems through connected cars and intelligent transportation systems such as sensors and communication & traffic control technologies. Consumer electronics is also one of the emerging application segments of the IoT monetization market and is anticipated to grow during the forecast period due to the Increase in number of smart appliances that can be connected to smartphones and the Internet.
The IoT monetization market is segmented into component, organization size, industry vertical, business functions, and region. In terms of component, the market is bifurcated into solutions and services. Based on organization size, it is classified into large enterprises and small & medium sized enterprises. As per industry vertical, it is divided into retail, IT & telecom, manufacturing, transportation & logistics, healthcare, BFSI, energy & utilities, and others. According to business function, the market is classified into marketing & sales, IT, finance, supply chain, and operations. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global IoT monetization market is dominated by key players such as Amdocs, Inc., IBM Corporation, Ericsson, SAP SE, Oracle, Thales Group, Cisco Systems, Inc., Aria Systems, Inc., Intel Corp., and General Electric Co. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the IoT monetization market globally.
Rise in market for smart cities and connected cars and growth in penetration of IoT, thus drive the growth of the market. In addition, a major shift from cost savings to revenue generation and a continuous rise in the volume of enterprise data drives the growth of the market during the forecast period. However, lack of strategic decisions and standards, and privacy and security concerns constraints hamper the growth of the market. Furthermore, the growing ecosystem of IoT platforms and service providers provides opportunities for IoT monetization vendors to expand their customer base. Moreover, rise in adoption of cloud platforms and Increase in internet connectivity are the major factors that drive the growth of the global IoT monetization market. In addition, surge in use of consumer electronics devices is expected to fuel the growth of the global IoT monetization market. Furthermore, an Increase in number of smart lighting and smart city projects is anticipated to provide lucrative growth opportunities for the global IoT monetization market in the upcoming years.
Furthermore, the adoption of IoT monetization solutions has Increased in the automotive & transportation industry as the automotive manufacturers are extensively using IoT, which fuels the growth of the market. It is easier to support cities, towns, and states, globally to meet the rise in demand for surface transportation systems through connected cars and intelligent transportation systems such as sensors and communication & traffic control technologies. Consumer electronics is also one of the emerging application segments of the IoT monetization market and is anticipated to grow during the forecast period due to the Increase in number of smart appliances that can be connected to smartphones and the Internet.
The IoT monetization market is segmented into component, organization size, industry vertical, business functions, and region. In terms of component, the market is bifurcated into solutions and services. Based on organization size, it is classified into large enterprises and small & medium sized enterprises. As per industry vertical, it is divided into retail, IT & telecom, manufacturing, transportation & logistics, healthcare, BFSI, energy & utilities, and others. According to business function, the market is classified into marketing & sales, IT, finance, supply chain, and operations. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global IoT monetization market is dominated by key players such as Amdocs, Inc., IBM Corporation, Ericsson, SAP SE, Oracle, Thales Group, Cisco Systems, Inc., Aria Systems, Inc., Intel Corp., and General Electric Co. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the IoT monetization market globally.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the IoT monetization market forecast along with the current and future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on IoT monetization market trends is provided in the report.
- The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the IoT monetization market from 2022 to 2032 is provided to determine the market potential.
Key Market Segments
By Industry Vertical
- Retail
- IT and Telecom
- Manufacturing
- Transportation and Logistics
- Healthcare
- BFSI
- Energy and Utilities
- Others
By Component
- Solution
- Service
By Business Function
- Marketing and Sales
- IT
- Finance
- Supply Chain
- Operations
By Organization Size
- Large Enterprises
- Small and Medium sized Enterprises
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Cisco Systems, Inc.
- Thales Group
- Oracle Corporation
- IBM Corporation
- SAP SE
- Intel Corporation
- General Electric Co.
- Microsoft Corporation.
- Amdocs, Inc.
- Telefonaktiebolaget LM Ericsson
Table of Contents
CHAPTER 1: INTRODUCTION
Chapter 2: EXECUTIVE SUMMARY
Chapter 3: MARKET OVERVIEW
Chapter 4: IoT MONETIZATION MARKET, BY COMPONENTS
Chapter 5: IoT MONETIZATION MARKET, BY ORGANIZATION SIZE
Chapter 6: IoT MONETIZATION MARKET, BY INDUSTRY VERTICAL
Chapter 7: IoT MONETIZATION MARKET, BY BUSINESS FUNCTION
Chapter 8: MARKET, BY REGION
Chapter 9: COMPANY PROFILES
List Of Tables
List of Figures
Executive Summary
According to a new report, titled, 'IoT Monetization Market,' The iot monetization market was valued at $396.62 billion in 2022, and is estimated to reach $25096.4 billion by 2032, growing at a CAGR of 51.7% from 2023 to 2032.The IoT Monetization Market is likely to experience a significant growth rate of 51.7% from 2023-2032, owing to increasing market demand from large enterprises.
IoT revenue generation focuses on the generation of income and profits through IoT-related activities. It involves creating revenue streams by leveraging IoT technologies, devices, and services. This can include charging for IoT devices, selling IoT data and analytics, offering IoT-based services or solutions, and establishing IoT ecosystems or marketplaces. The goal of IoT revenue generation is to leverage the IoT ecosystem to drive business growth and financial success. In addition, IoT monetization allows organizations to create new revenue streams by capitalizing on the data, services, and value generated by IoT-enabled devices and systems. By effectively monetizing the IoT investments, organizations may generate additional income beyond their core products or services.
On the contrary, successful IoT monetization strategies may significantly improve an organization's profitability. By leveraging IoT data and insights, organizations can optimize the operations, reduce costs, and increase efficiency. IoT-enabled services and value-added offerings also provide opportunities for higher profit margins. IoT monetization enables organizations to deliver enhanced value to the customers. By leveraging IoT data and insights, organizations may offer personalized and context-aware services, predictive maintenance, real-time monitoring, and other value-added offerings. This helps in building stronger customer relationships and increasing customer loyalty. Moreover, implementing effective IoT monetization strategies may provide a competitive advantage in the market. By offering innovative IoT-enabled products, services, or business models, organizations can differentiate themselves from competitors. IoT monetization also allows organizations to stay ahead of industry trends and cater to evolving customer demands. IoT generates vast amounts of data that, when effectively monetized, may provide valuable insights for decision making. Organizations can analyze IoT data to gain deeper customer insights, optimize operations, and identify new market opportunities. Data-driven decision making powered by IoT monetization enables organizations to make more informed and strategic choices. Additionally, IoT monetization often requires organizations to rethink the business models and explore new ways of generating value. This can lead to business model innovation and transformation. Organizations can shift from product-centric models to service-based models, subscription models, outcome-based pricing, or data-driven business models.
Factors such as Rise in market for smart cities and connected cars and growth in penetration of IoT, thus drive the growth of the market. In addition, a major shift from cost savings to revenue generation and a continuous rise in the volume of enterprise data drives the growth of the market during the forecast period. However, lack of strategic decisions and standards, and privacy and security concerns constraints hamper the growth of the market. Furthermore, the growing ecosystem of IoT platforms and service providers provides opportunities for IoT monetization vendors to expand their customer base.
The IoT monetization market is segmented into component, organization size, industry vertical, business functions, and region. In terms of component, the market is bifurcated into solutions and services. Based on organization size, it is classified into large enterprises and small & medium sized enterprises. As per industry vertical, it is divided into retail, IT & telecom, manufacturing, transportation & logistics, healthcare, BFSI, energy & utilities, and others. According to business function, the market is classified into marketing & sales, IT, finance, supply chain, and operations. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global IoT monetization market is dominated by key players such as Amdocs, Inc., IBM Corporation, Ericsson, SAP SE, Oracle, Thales Group, Cisco Systems, Inc., Aria Systems, Inc., Intel Corp., and General Electric Co. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the IoT monetization market globally. For instance, in November 2021, Melita partnered with Amdocs, to develop further its 5G offerings to consumer and business customers and assist its international expansion drive. Amdocs is providing charging solutions to help Melita create differentiated services and business models leveraging Melita’s 5G network. In addition, in April 2023, Go1 partnered with SAP Partner, with its solution available for online purchase on the SAP Store. SAP Endorsed Apps are premium certified by SAP with added security and in-depth testing. Together with SAP SuccessFactors, Go1 will enhance SAP SuccessFactors Learning to simplify discovery and consumption of content and help organizations deliver skill-building pathways for every business need.
Key Market Insights
- By component, the solution segment was the highest revenue contributor to the market in 2022, and is estimated to reach $13,148.97 billion by 2032, with a CAGR of 48.0%. However, the service segment is estimated to be the fastest growing segment with a CAGR of 57.3% during the forecast period.
- By business function, the marketing and sales segment dominated the global market share in 2022, and is estimated to reach $5958.08 billion by 2032, with a CAGR of 44.7%, However, Finance segment is expected to be the fastest growing segment with the CAGR of 59.2% during the forecast period.
- By organization size, the large enterprises segment dominated the global market share in 2022, and is estimated to reach $13327.14 billion by 2032, with a CAGR of 48.7%. However, the small and medium-sized enterprises segment is expected to be the fastest growing segment with a CAGR of 56.0% during the forecast period.
- By industry vertical, the manufacturing segment dominated the global market share in 2022 and is estimated to reach $4305.94 billion by 2032, with a CAGR of 46.3%, However, the healthcare segment is expected to be the fastest growing segment with the CAGR of 58.5% during the forecast period.
- Region wise, North America was the highest revenue contributor, accounting for $140.96 billion in 2022, and is estimated to reach $6555.19 billion by 2032, with a CAGR of 47.0%.
Companies Mentioned
- Cisco Systems, Inc.
- Thales Group
- Oracle Corporation
- IBM Corporation
- SAP SE
- Intel Corporation
- General Electric Co.
- Microsoft Corporation.
- Amdocs, Inc.
- Telefonaktiebolaget LM Ericsson
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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