IoT Monetization Market Global Outlook and Forecast 2022-2030
IoT Monetization Market is expecting USD 1,839.37 billion by 2030, at a CAGR of 43%.
The global Iot Monetization Market is rising continually. The market growth attributes to the need for monetization immensely growing with rising penetration of the internet and smart & connected devices. Besides, the enormous amount of data generated due to the increasing shift towards the IoT-enabled platform-as-a-service model and cloud-based solutions create substantial market demand.
Recent developments in IoT monetization include microtransactions, outcome-based billing, and the use of targeted video ads. Microtransactions involve users purchasing virtual goods with micropayments, and can be used to monetize IoT applications. Outcome-based billing is a revenue model that rewards service providers for achieving certain outcomes. Lastly, targeted video ads are becoming increasingly popular as a way to monetize IoT applications. Additionally, companies such as BlackBerry and Amazon Web Services have developed intelligent platforms to speed up the process of building , deploying, and monetizing in-vehicle applications.
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The potential of IoT has caught the business community's attention worldwide. IoT monetization and asset visibility solutions benefit organizations hugely. With the rising adoption of cloud-based solutions for service virtualization & containerization in increasing numbers of enterprises, the market value is projected to escalate further during the assessment period.
In this regard, Market Research Future (MRFR) states that the global IoT monetization market is poised to reach an exponential valuation by 2030, registering a phenomenal CAGR during the forecast period (2020-2030). Monetizing the collected data is then used to develop new products that can meet consumer needs.
The data can also be used for a monthly revenue stream, providing customers with opportunities with refillable services. Additionally, increasing numbers of smart homes and smart city projects boost market growth, creating the need to manage and secure this tremendous amount of data.
On the other hand, incompatible IT Infrastructure that cannot accommodate the growing volumes of sensor data is a significant factor that can obstruct market growth. Large volumes of sensor data from vastly distributed connected devices challenge organizations' conventional data storage and management capabilities.
Nevertheless, rising investments aimed at creating innovative application solutions would support the market growth throughout the forecast period, dealing with the management and security of a large volume of data.
Global IoT Monetization Market – Segments
The market report is segmented into components, organization size, industry verticals, and regions. The component segment is sub-segmented into solutions and services. The organization size segment is sub-segmented into large enterprises and small & medium-sized enterprises (SMEs).
The industry vertical segment is sub-segmented into retail, IT & telecom, manufacturing, transportation & logistics, healthcare, BFSI, energy & utilities, and others. The function segment is sub-segmented into marketing & sales, IT, finance, supply chain, operations, and others. The region segment is sub-segmented into Europe, Americas, Asia Pacific, and the Rest-of-the-World.
By Organization size:
- Large enterprises
- Small & medium-sized enterprises.
- By Division by industry verticals
- IT & Telecom
- Transportation & logistics
- Energy & utilities
- Marketing & sales
- Supply chain
- North America
Global IoT Monetization Market – Regional Analysis
North America dominates the global IoT monetization market. The region is a hub for advanced technologies, allowing the early adoption of innovative technologies. Besides, the largest market share is attributed to well-established industry players and technology development centers in the region.
Moreover, the rapid adoption of smart devices, alongside the rising number of enterprises in this region, drives the growth of the market. The North American IoT monetization market is projected to retain its dominance throughout the estimated period.
Global IoT Monetization Market – Competitive Analysis
Highly competitive, the IoT monetization market appears fragmented due to the presence of numerous well-established players. Innovation, mergers & acquisitions, and collaborations remain key trends for these players to gain a larger competitive share. The market would witness intensified competition with an increase in R&D innovations and M&A.
Players active in the global IoT monetization market include Google Inc. (US), PTC, Inc. (US), Amdocs, Inc. (US), Apple Inc. (US), Intel Corporation (US), Cisco Systems, Inc. (US), General Electric Corporation (US), Microsoft Corporation (US), SAP SE (Germany), and Facebook Inc. (US), among others.
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Aug. 25, 2021 --- Mavenir, a leading global provider of mobile messaging and business messaging monetization solutions, announced the acquisition of Telestax Inc., a leading global CPaaS enabler, to enhance its business messaging and customer engagement platform.
Telestax provides a communications platform as a service (CPaaS) enablement and applications to the communications industry. This acquisition would enhance Mavenir's Omni-channel messaging monetization and customer engagement offerings, enabling flexibility, specialization, and innovation in a SaaS model.
Table Of Contents:
1 Market Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.3 Market Structure
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About Market Research Future (MRFR):
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.
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