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2017 research report discusses how to monetize IoT

2017 research report discusses how to monetize IoT

IoT monetization is the process of generating revenue for an organization with the help of IoT enabled devices such as smart home, smart appliances, smartphones, smart cameras and others. With new smaller, connected IoT sensors and wearable devices, businesses can cost-effectively monitor, analyze and manage their revenue generating operations.

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By implementing flexible business models, easy license management, reduced hardware manufacturing and storage cost, organization has been building successful IoT monetization systems.

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According to a recent study report published by the Market Research Future, the global market of                                                                 IoT monetization is forecasted to grow at approximately 43% of CAGR in terms of value surpassing its previous growth records by the end of the forecasted period (2016 – 2022). With such a striking rate of a CAGR, MRFR hopes the Global IoT Monetization Market to reach to ~ 390 Billion by 2022.

The major factor that drives the growth of IoT Monetization market is increasing smartphone users, growing advancement in cloud based technology, and growing emergence of smart appliances which is useful in building smart cities & offices among others. However, security concern among customers and lack of power-efficient devices are some of the major restraint of the IoT Monetization market growth.

IoT Monetization Global Market Key Players

The global IoT Monetization market appears to be highly fragmented and competitive.  Giant players with  a strong presence in the international and regional market adorn the global market.                                         

Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players operating in the global  IoT Monetization Market.

Profiled in MRFR Analysis some of the major players in Global IoT Monetization Market includes Google Inc. (U.S.), Amdocs, Inc. (U.S.), Cisco systems, Inc.

(U.S.), Microsoft Corporation (U.S.), SAP SE (Germany), General Electric Corporation (U.S.), Intel Corporation (U.S.), Facebook Inc. (U.S.), Apple Inc. (U.S.), PTC, Inc.

(U.S.) and others.

IoT Monetization Global Market Segments

The IoT Monetization market can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Deployment  : Comprising On-Premise and On-Cloud among others

Segmentation by End-Users       : Comprising Healthcare, Automotive, Agriculture, Consumer Electronics and Retail among others.

Segmentation By Regions            : Comprises Geographical regions - North America,                                                  Europe, APAC and Rest of the World.

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IoT Monetization Global Market - Synopsis

The increasing Internet connectivity, increased use of smartphones and other connected devices, and                 growing adoption of cloud platforms are the major drivers for the IoT monetization market. Factors such               as lack of common communication standards across platforms and lack of power-efficient devices                         are restraining the growth of the IoT monetization market. 

The growing demand for reliable energy-efficient systems and enhanced home security levels worldwide is driving the growth of the IoT monetization market for building & home automation applications. Favorable government regulations and the growing trend of integrating smart devices such as smartphones and tablets are also boosting the growth of the market.

The rising necessity for convenience, safety and security, and product development in IoT & M2M communication is also contributing to the growth of the market. 

IoT Monetization Market Regional Analysis:
North America is dominating the global IoT monetization market with the largest market share due to presence of large number of IoT companies in the region and growing adoption of new technology by industrial sectors to perform their routine operations and therefore is expected to grow with highest revenue by 2022. Asia-Pacific is the fastest growing region during the forecast period due to increasing adoption of IoT technology in automotive and industrial sectors in the region.

Also, growing trend of digitalization in the developing countries such as India & China is fuelling the growth of IoT monetization market.  

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North America is dominating the global IoT monetization market with the largest market share due to presence of large number of IoT companies in the region and growing adoption of new technology by industrial sectors to perform their routine operations and therefore is expected to grow with highest revenue by 2022. Asia-Pacific is the fastest growing region during the forecast period due to increasing adoption of IoT technology in automotive and industrial sectors in the region.

Also, growing trend of digitalization in the developing countries such as India & China is fuelling the growth of IoT monetization market.  

 

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