The European IoT monetization market is expected to grow at a CAGR 44.66% during the forecast period. The rising adoption of IoT monetization market by industries is expected to stimulate the growth of the market in Europe. The linking of health objects with customized support services, which will result in a huge generation of patient information, is considered as another driving force behind the growth of the market.
The European market is assessed on the basis of countries, namely Germany, France, the United Kingdom, Italy, Spain, and the Rest of Europe. The increased usage of smart devices such as smartphones, tablets, rising adoption of data monetization solutions, the introduction of IoT in the healthcare industry is paving the way for the growth opportunities in the European market. There is a lack of transparency despite data being the currency of IoT. The focus on conventional monetization strategies hinders the growth of the market. The increasing presence of IoT across various industries is a cause of concern with respect to privacy issues. There are tremendous opportunities due to the underutilization of IoT in certain countries of the European market.
The major players of the market include Robert Bosch GmbH, SAP SE, Ericsson, Oracle Corporation, etc. These companies are using various strategies like mergers & acquisition, product developments, partnerships, etc.