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IoT Monetization Market – OverviewMarket Research Future (MRFR) reported that various key factors are driving the global IoT monetization market. The increasing use of smartphones and other connected devices, increasing internet connectivity, and a burgeoning adoption rate of varying cloud platforms are some of the major contributing factors driving the global IoT monetization market. The rising number of smart cities and smart lighting projects is also anticipated to expand the market opportunities of the global market. The market is significantly driven by the increasing number of smartphone users across the globe.
However, the lack of common communication standards across different platforms and the absence of power-efficient devices are some of the key factors that are anticipated to majorly hamper the growth of the market in the coming years.
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Competitive Landscape
The global IoT monetization market includes various key players. This includes key names such as Facebook Inc. (U.S.), Cisco systems, Inc. (U.S.), Google Inc. (U.S.), SAP SE (Germany), Amdocs, Inc. (U.S.), Intel Corporation (U.S.), Microsoft Corporation (U.S.), PTC, Inc. (U.S.), General Electric Corporation (U.S.), Apple Inc. (U.S.), and others.
Feb 2019, one of the global leaders in the Internet of Things (IoT) landscape, Telit, announced the launch of a new initiative named Telit OneEdge. The initiative is developed to speed-up IoT deployments and curb down the time consumption required for monetizing digitalization businesses.
Market Segmentation
The global IoT monetization market is segmented in terms of two key dynamics: deployment and end-users.
By deployment, the market divides into on-cloud and on-premise.
By end-users, the market comprises consumer electronics, automotive, healthcare, retail, and others.
The automotive segment is projected to grow during the forecast period with the share percentage. Automotive manufacturers across the globe are adopting IoT at a rapid pace owing to the growing awareness concerning the same. This is, in turn, driving the growth of the global IoT monetization market.
Also, the consumer electronics segment is growing at a rapid pace and is cementing its status as a key application in the global market. The heightened demand for smart consumer electronics is slated to increase even more due to its proliferating use in building smart offices, smart buildings, and smart cities. The segment is also expected to grow during the forecast period owing to the increasing demand and usage of smart appliances that can be easily connected to the internet and smartphones.
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Regional Analysis
The global IoT monetization market includes the following regional territories for the purpose of study: Asia Pacific, Europe, North America, and the Rest of the World (RoW).
The North American region is projected to dominate the global IoT monetization market in the coming years due to a number of highlighting factors. Most notably, the fast-paced adoption of various new and advancing technologies and the presence of a wide-pool of IoT companies in this region are some of the vital factors driving the growth of the market. The presence of the US, in particular, aids the IoT monetization market in North America. Most of the companies present in the US provide a number of IoT devices for applications in the industrial, healthcare, automotive & transportation, retail, consumer electronics, and other sectors.
The Asia Pacific region is expected to grow during the forecast period with the highest CAGR. The region is expected to stand out and be a major regional market by the end of the forecast period. The growth of the Asia Pacific region is due to the increasing adoption of IoT technologies in the industrial and automotive sectors. Additionally, it is reported that developing economies like India and China are witnessing an increasing trend of digitalization. This is fueling the growth of the global market during the forecast period.
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Website: https://www.marketresearchfuture.com/reports/iot-monetization-market-1998
Release ID: 88893733
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