The report, titled “IoT Monetization Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2023” furnishes key information regarding the major growth opportunities, challenges, trends, and drivers of the market. The report offers a detailed evaluation of the market, wherein the prominent market trends, competitive scenario, value chain analysis, and the supply and demand dynamics have been discussed.
With the towering demand for smart devices such as smartphones, the global market for IoT monetization is likely to soar. The advent of the Internet of Things (IoT) has brought about the introduction of a number of smart, interconnected devices across every sector. The growing use of Internet, escalating demand for reliable and energy-efficient systems, and greater deployment of cloud platforms are some of the key growth drivers of the market. The increasing adoption of IoT by automotive manufacturers is also aiding the expansion of the market. Moreover, several governments are encouraging the use of IoT.
On the other hand, lack of standardization across communication platforms and high power consuming devices might restrain the growth of the market. However, the global IoT monetization market will recover from these restraints with further technological advancements and the advent of energy-efficient smart devices.
By application, the global IoT monetization market can be segmented into consumer electronics, healthcare, industrial, retail, building and home automation, automotive and transportation, agriculture, and energy. The transportation and automotive segment is likely to emerge as the leading segment in the global IoT monetization market. The dominance of this market segment can be attributed to the advent of smart cars and intelligent transportation systems featuring cutting-edge communication and traffic control technologies and smart sensors. The consumer electronics segment also holds promising potential. As wearables and smart devices such as smart watches gain traction, the global market for IoT monetization is expected to progress further.
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By geography, the global IoT monetization market is segmented into Asia Pacific, North America, Europe, and Rest of the World (RoW). Analysts predict that North America will emerge as the dominant region in the global market for IoT monetization. The growth of the IoT monetization market in Asia Pacific is facilitated by the growing adoption of technology, increasing connectivity, favorable government initiatives, and flourishing end-use industries. The extensive growth of the transportation, automotive, and consumer electronics industries in countries such as India, China, Japan, and Singapore, has been promoting growth of this region.
Cisco Systems, Inc., Google Inc., Amdocs Ltd, BM Corp., General Electric Co., Intel Corp., Tata Consultancy Services, SAP SE, Oracle Corp., Microsoft Corp., Robert Bosch GmbH, Infosys Ltd., and PTC, Inc. are some of the prominent companies operating in the global market for IoT monetization.