The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The Internet of Things (IoT) is a system of interconnected devices that has the ability to transmit data without the need of any person-to-person or person-to-computer interplay. IoT Monetization is a process of profiting from IoT-enabled products and services. The emergence of IoT has resulted in the birth of home automation, automated healthcare, smart farming, etc. The global IoT monetization market registered a phenomenal start in 2018 being valued at $XX billion, and is expected to reach $1992713 billion by 2027, with a CAGR of 44.57% from 2019 to 2027. The factors such as technological advancements, increasing use of smart devices, adoption of cloud platforms, and ever-spreading internet connectivity, stimulate the growth of the global IoT monetization market.
The surge in the use of electronic devices, efficiency, cost-cutting, and swift engineer operations, is said to propel the growth of the global IoT monetization market. The introduction of IoT has had positive and negative impacts on industries, houses, and devices. The domination of connected cars on IoT, shifting focus towards revenue generation, and voluminous enterprise data, are considered as driving forces behind the growth of the market. The rising number of security concerns in matters of privacy and cybersecurity, lack of transparency, and lack of general IoT standards restrict the growth of the market.
The global IoT monetization market is distinguished into four regions, namely North America, Europe, Asia Pacific, and Rest of the World. North America has the largest market share in the global market, owing to the presence of a large number of IoT companies. The North American region is expected to dominate the global market due to the voluminous rise of enterprise data, and the rising preference of data-driven business.
The major players of the global market are Robert Bosch GmbH, General Electric Co., SAP SE, Amdocs, Tata Consultancy Services, Aria Systems, Inc., Intel Corporation, IBM Corporation, Gemalto NV, Ericsson, Google, Inc., Cisco Systems, Inc., PTC Inc., and Oracle Corporation.