IoT Monetization Market Anticipated to Register a Valuation of $25.1 Trillion by 2032, Indicates By AMR
iot-monetization-market-1685593790 (1)
Connectivity expansion, data-driven insights, demand for efficient operations, and innovative business models propel IoT monetization market.
PORTLAND, ORIGON, UNITED STATES, December 9, 2023 /EINPresswire.com/ -- Upsurge in the number of smart cities projected and connected cars, increase in adoption of IoT monetization in agriculture, and significant adoption of smart devices such as tablets and smartphones drive the growth of the market. However, lack of IoT standards across platforms and rise in privacy as well as security concerns restrain the market growth. Conversely, growing investments in the IoT monetization market create new opportunities for the growth of the market.
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The solution segment held the largest market share of 68.5% in 2017 and is expected to remain dominant throughout the forecast period. This is attributed to the increased use of IoT monetization solutions among organizations. However, the services segment would grow at the highest CAGR of 55.3% from 2018 to 2025, owing to the growing adoption of cloud-based IoT monetization service among small and medium enterprises.
The large enterprises segment contributed 60.7% of the total market share in 2017 and would maintain its dominance through 2025. This is on account of the high adoption of IoT monetization tools in large-scale organizations. However, the small & medium sized enterprises segment would grow at the fastest CAGR 54.5% from 2018 to 2025 due to the growing adoption of IoT monetization solutions and increasing inclination toward cloud-based IoT monetization tools.
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The manufacturing segment generated the highest share of 28.2% in 2017 and is projected to continue this trend during the forecast period. This is due to the numerous benefits offered by IoT monetization solutions to the manufacturing industry, which include streamlined operations, reduced cost, improved customer acquisition and retention, and new sources of revenue from the insights generated by instrumented products and product development processes. However, the healthcare division is anticipated to grow at the fastest CAGR of 60.6% during the study period, due to the high adoption of IoT in the healthcare sector. The report also analyzes various industry verticals such as retail, IT & telecom, transportation & logistics, BFSI, energy & utilities, and others.
North America contributed 42.0% of the total market share in 2017 and is expected to maintain its lion's share during the forecast period. This is due to stringent regulations by governments in countries such as China and Japan and strict compliance to safety rules. However, Asia-Pacific would emerge as the fastest CAGR of 57.1% from 2018 to 2025 due to the growing penetration of IoT in the automotive and transportation industries in the region.
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Key Market Players:
► General Electric Co.
► Intel Corporation
► Microsoft Corporation.
► SAP SE
► Thales Group
► IBM Corporation
► Oracle Corporation
► Telefonaktiebolaget LM Ericsson
► Cisco Systems, Inc.
► Amdocs, Inc.
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Similar Report:
1. Europe IoT Monetization Market
2. U.S. IoT Monetization Market
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