IoT monetization is the procedure of generating revenue from products and services that use IoT. An increase in internet connectivity, and the rise in adoption of cloud platforms are the prime factors in the growth of the global IoT monetization market. Inkwood research estimates that the market for IoT monetization will grow at an anticipated CAGR of 44.57% during the forecast period & will reach the revenue of $1992713 million by 2027. The base year considered for the market study is 2018 & the forecasted period is between 2019 and 2027. The advantage of the Internet of Things is experienced in domains such as connected homes, and transport, which drives the growth of the IoT monetization market in smart cars and smart cities. A Smart car lets individuals heat up or cool down the cars before going for a drive.

GLOBAL IOT MONETIZATION MARKET FORECAST 2019-2027

IOT Monetization Market by Components (Solution, Service) by Organization Size (Large Organization, Smes) by Industrial Verticals (Retail, It & Telecom, Manufacturing, Transportation and Logistics, Healthcare, BFSI, Energy & Utilities, Others) by Business Functions (Marketing and Sales, It, Finance, Supply Chains, Operations) by Geography

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IoT monetization is the procedure of generating revenue from products and services that use IoT. An increase in internet connectivity, and the rise in adoption of cloud platforms are the prime factors in the growth of the global IoT monetization market.

Inkwood research estimates that the market for IoT monetization will grow at an anticipated CAGR of 44.57% during the forecast period & will reach the revenue of $1992713 million by 2027. The base year considered for the market study is 2018 & the forecasted period is between 2019 and 2027.

The global IoT monetization market is driven by:

  • A rise in the market for smart cities and connected cars
  • Growth in the adaptation of IoT
  • A major shift from cost savings to revenue generation
  • Continuous rise in the volume of enterprise data

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The advantage of the Internet of Things is experienced in domains such as connected homes, and transport, which drives the growth of the IoT monetization market in smart cars and smart cities. A Smart car lets individuals heat up or cool down the cars before going for a drive. For instance, smart home technologies and energy consumption, are among the adopters of the Internet of Things, which will drive the rise in the smart cities initiatives in the market.

In 2018, the IoT monetization market for transportation & logistics had the highest market share of 23.07% in terms of revenue in the application segment and was expected to maintain its lead throughout the forecast period. Companies of Transportation and logistics are using the Internet of Things to reduce their operational costs, improve their service performance, and reduce accidents using real-time monitoring, compliance metrics, and driver safety. Governments and municipalities have started taking initiatives in the adaptation of IoT at different places like airports and smart roads to collect huge data such as the number of passengers, the number of parking spaces, etc. For instance, Miami Airport is one of the busiest airports in the United States. They installed the IoT app, and other sensor technologies, providing them with numerous benefits. The airport launched a new app which can be downloaded that helps in delivering the information to passengers with regards to the location of baggage claim areas, restaurants, and other services, resulting in better efficiency and management.

The global IoT monetization market growth is hampered/curtailed by factors such as lack of strategic decision making and regulatory standards, privacy and security concerns, rigid solution of iot monetization, and unifying financial architecture. There has been a growth in IoT across various industries leading to its growth in privacy and information security concerns. There are possibilities of malicious threats that can attack the device and network, through which data is transferred at various levels. This major factor hampers the growth of the market. There are several companies facing security issues. For instance, smart home devices can be hacked and used against the user.

Report scope of the global IoT monetization market covers segmentation analysis of the components, organizations, industrial verticals, and business functions.

Market by Components:

  • Solution
  • Service

Market by Organizations:

  • Large Organizations
  • SMEs

Market by Industrial Verticals:

  • Retail
  • IT & Telecom
  • Manufacturing
  • Transportation & Logistics
  • Healthcare
  • BFSI
  • Energies & Utilities
  • Others

Market by Business Functions:

  • Manufacturing
  • IT
  • Finance
  • Supply Chains
  • Operations

The total market revenue is calculated by the adoption of IoT Monetization across various verticals.

On the basis of geography, the global IoT monetization market has been segmented into four major regions:

Geographically, North America is the largest market with a market share of 41.49% in terms of revenue in 2018. The dominance of North America is attributed to constant growth in the volume of enterprise data across various industry verticals. The healthcare sector in North America is adopting and getting linked to the IoT. The increase in the growth of wireless medical devices such as smart inhalers and heart monitors is increasing the efficiency of work in this region. The hospitals generate an enormous amount of patient data resulting in the need for IoT monetization solutions. The other reason for the North America dominance in the global IoT monetization market is the presence of a large number of IoT companies in the region and their increasing technological developments. For instance, Intel partnered with Google Cloud and is aiming to help the enterprise customers in deploying the applications across the cloud and on-premises.

The Asia Pacific, on the other hand, is anticipated to be the fastest-growing region with a CAGR of 47.38% during the forecast period. The Asia-Pacific IoT monetization market is analyzed across China, Japan, India, South Korea, and the Rest of Asia Pacific. The growth of Asia Pacific is attributed to multinational companies, who are exploring the market by entering into the region through partnerships with local companies, technology partners, and channel partners. The BFSI sector is one of the largest contributors to the IoT in the Asia Pacific. IoT solutions cater to the demand for business services. The technological advancements and BFSI are the factors that drive the Asia Pacific market growth.

The global IoT monetization market has been segmented on the basis of components, organizations, business functions, and industrial verticals. The components are further sub-segmented into solutions and services. The organizations are divided into large organizations and SMEs. The market by industrial verticals is divided into retail, IT & telecom, manufacturing, transportation & logistics, healthcare, BFSI, energy & utilities, and others. The market for IoT monetization by business functions is divided into manufacturing, IT, finance, supply chain, and operations.

The market has several players & some of the key players involved in the global IoT monetization market are:

  • IBM Corporation
  • Intel corporation
  • Oracle Corporation
  • SAP SE
  • General Electric company
  • Others

In June 2019, Microsoft Corp. partnered with Oracle Corp. partnered to make the cloud interoperability, which would enable the customers to run mission-critical enterprise workloads and migrate across Oracle Cloud and Microsoft Azure.  In February 2019, Gemalto launched Trusted Digital Identity Services Platform, which will manage things needed by mobile operators to make a customer enrolment, including the verification and authentication, capturing of biometrics and customer credentials. In February 2019, Amdocs partnered with PJSC VimpelCom for a project in new digital IT modernization. IT solutions will enhance business systems.

Key findings of the global IoT monetization market are:

  • Transportation & logistics took the lead in terms of revenue in the industrial verticals segment by capturing the largest market share of around 23.07 % in 2018.
  • Marketing & Sales segment dominates in business functions and is anticipated to grow at the highest CAGR of XX% during the forecast period of 2019-2027.
  • IoT monetization solutions continue to be the major components and have augmented the growth of IoT market for the forecast period.
  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • TRANSPORTATION & LOGISTICS LEADS IN THE INDUSTRIAL VERTICAL SEGMENT
      • MARKETING & SALES – KEY BUSINESS FUNCTION
      • SOLUTIONS CONTINUE TO BE THE MAJOR COMPONENTS
  1. MARKET DYNAMICS
    • MARKET SCOPE & DEFINITION
    • MARKET DRIVERS
      • MAJOR GROWTH FOR SMART CITIES AND CONNECTED CARS
      • GROWTH IN PROBING OF IOT
      • PRIMARY SHIFT FROM COST SAVINGS TO REVENUE GENERATION
      • CONSTANT GROWTH IN THE VOLUME OF ENTERPRISE DATA
    • MARKET RESTRAINTS
      • LACK OF STRATEGIC DECISION MAKING AND REGULATORY STANDARDS
      • PRIVACY AND SECURITY CONCERNS
    • MARKET OPPORTUNITIES
      • RISING ADOPTION OF IOT MONETIZATION IN AGRICULTURE
    • MARKET CHALLENGES
      • RIGID SOLUTIONS OF IOT MONETIZATION MARKET
      • UNIFYING FRACTURED FINANCIAL ARCHITECTURE
  1. MARKET BY COMPONENTS
    • SOLUTION
    • SERVICE
  2. MARKET BY ORGANIZATION SIZE
    • LARGE ORGANIZATION
    • SMEs
  3. MARKET BY INDUSTRIAL VERTICALS
    • RETAIL
    • IT & TELECOM
    • MANUFACTURING
    • TRANSPORTATION AND LOGISTICS
    • HEALTHCARE
    • BFSI
    • ENERGY AND UTILITIES
    • OTHERS
  4. MARKET BY BUSINESS FUNCTIONS
    • MARKETING AND SALES
    • IT
    • FINANCE
    • SUPPLY CHAINS
    • OPERATIONS
  5. KEY ANALYTICS
    • PORTER’S FIVE FORCE MODEL
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTES
      • BARGAINING POWER OF SUPPLIERS
      • BARGAINING POWER OF BUYERS
      • THREAT OF COMPETITIVE RIVALRY
    • KEY BUYING CRITERIA
      • SCALABILITY
      • BANDWIDTH
      • SECURITY
      • HYBRID CLOUD
      • REDUNDANCY AND DISASTER RECOVERY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
  6. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF THE WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA
  1. COMPANY PROFILES
    • AMDOCS
    • ARIA SYSTEMS, INC.
    • CISCO SYSTEMS, INC.
    • ERICSSON
    • GEMALTO NV
    • GENERAL ELECTRIC CO
    • IBM CORPORATION
    • INTEL CORPORATION
    • ORACLE CORPORATION
    • SAP SE
    • GOOGLE, INC.
    • TATA CONSULTANCY SERVICES
    • ROBERT BOSCH GmbH
    • PTC, INC.

LIST OF TABLES 

TABLE 1: GLOBAL IOT MONETIZATION MARKET, BY GEOGRAPHY, 2019-2027 (IN $ BILLION)

TABLE 2: GLOBAL IOT MONETIZATION MARKET, BY COMPONENT, 2019-2027 (IN $ BILLION)

TABLE 3: GLOBAL SOLUTION MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 4: GLOBAL SERVICE MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 5: GLOBAL IOT MONETIZATION MARKET, BY ORGANIZATION SIZE, 2019-2027 (IN $ BILLION)

TABLE 6: GLOBAL LARGE ORGANIZATION MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 7: GLOBAL SMEs MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 8: GLOBAL IOT MONETIZATION MARKET, BY INDUSTRIAL VERTICALS, 2019-2027 (IN $ BILLION)

TABLE 9: GLOBAL RETAIL MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 10: GLOBAL IT& TELECOM MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 11: GLOBAL MANUFACTURING MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 12: GLOBAL TRANSPORTATION & LOGISTICS MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 13: GLOBAL HEALTHCARE MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 14: GLOBAL BFSI MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 15: GLOBAL ENERGY & UTILITIES MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 16: GLOBAL OTHER MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 17: GLOBAL IOT MONETIZATION MARKET, BY BUSINESS FUNCTION, 2019-2027 (IN $ BILLION)

TABLE 18: GLOBAL MARKETING & SALES MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 19: GLOBAL IT MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 20: GLOBAL FINANCE MARKET, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 21: GLOBAL SUPPLY CHAIN, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 22: GLOBAL OPERATIONS, BY REGION, 2019-2027 (IN $ BILLION)

TABLE 23: OPPORTUNITY MATRIX

TABLE 24: VENDOR LANDSCAPE

TABLE 25: GLOBAL IOT MONETIZATION MARKET, BY GEOGRAPHY, 2019-2027(IN $ BILLION)

TABLE 26: NORTH AMERICA IOT MONETIZATION MARKET, BY COUNTRY, 2019-2027 (IN $ BILLION)

TABLE 27: EUROPE IOT MONETIZATION MARKET, BY COUNTRY, 2019-2027 (IN $ BILLION)

TABLE 28: ASIA PACIFIC IOT MONETIZATION MARKET, BY COUNTRY, 2019-2027 (IN $ BILLION)

TABLE 29: REST OF WORLD IOT MONETIZATION MARKET, BY REGION, 2019-2027 (IN $ BILLION)

LIST OF FIGURE

FIGURE 1: GLOBAL IOT MONETIZATION MARKET, BY INDUSTRIAL VERTICALS, 2018 & 2027 (IN %)

FIGURE 2: GLOBAL IOT MONETIZATION MARKET, BY TRANSPORTATION & LOGISTICS, 2019-2027 (IN $ BILLION)

FIGURE 3: GLOBAL IOT MONETIZATION MARKET, BY MARKETING &SALES, 2019-2027 (IN $ BILLION)

FIGURE 4: GLOBAL IOT MONETIZATION MARKET, BY SOLUTION, 2019-2027 (IN $ BILLION)

FIGURE 5: GLOBAL IOT MONETIZATION MARKET, BY SERVICE, 2019-2027 (IN $ BILLION)

FIGURE 6: GLOBAL IOT MONETIZATION MARKET, BY LARGE ORGANIZATION SIZE, 2019-2027 (IN $ BILLION)

FIGURE 7: GLOBAL IOT MONETIZATION MARKET, BY SMEs, 2019-2027 (IN $ BILLION)

FIGURE 8: GLOBAL IOT MONETIZATION MARKET, BY RETAIL, 2019-2027 (IN $ BILLION)

FIGURE 9: GLOBAL IOT MONETIZATION MARKET, BY IT& TELECOM, 2019-2027 (IN $ BILLION)

FIGURE 10: GLOBAL IOT MONETIZATION MARKET, BY MANUFACTURING, 2019-2027 (IN $ BILLION)

FIGURE 11: GLOBAL IOT MONETIZATION MARKET, BY TRANSPORTATION & LOGISTICS, 2019-2027 (IN $ BILLION)

FIGURE 12: GLOBAL IOT MONETIZATION MARKET, BY HEALTHCARE, 2019-2027 (IN $ BILLION)

FIGURE 13: GLOBAL IOT MONETIZATION MARKET, BY BSFI, 2019-2027 (IN $ BILLION)

FIGURE 14: GLOBAL IOT MONETIZATION MARKET, BY ENERGY & UTILITIES, 2019-2027 (IN $ BILLION)

FIGURE 15: GLOBAL IOT MONETIZATION MARKET, BY OTHERS, 2019-2027 (IN $ BILLION)

FIGURE 16: GLOBAL IOT MONETIZATION MARKET, BY MARKETING AND SALES, 2019-2027 (IN $ BILLION)

FIGURE 17: GLOBAL IOT MONETIZATION MARKET, BY IT, 2019-2027 (IN $ BILLION)

FIGURE 18: GLOBAL IOT MONETIZATION MARKET, BY FINANCE, 2019-2027 (IN $ BILLION)

FIGURE 19: GLOBAL IOT MONETIZATION MARKET, BY SUPPLY CHAIN, 2019-2027 (IN $ BILLION)

FIGURE 20: GLOBAL IOT MONETIZATION MARKET, BY OPERATIONS, 2019-2027 (IN $ BILLION)

FIGURE 21: PORTER’S FIVE-FORCE ANALYSIS

FIGURE 22: KEY BUYING IMPACT ANALYSIS

FIGURE 23: GLOBAL IOT MONETIZATION MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)

FIGURE 24: UNITED STATES IOT MONETIZATION MARKET, 2019-2027 (IN $ BILLION)

FIGURE 25: CANADA IOT MONETIZATION MARKET, 2019-2027 (IN $ BILLION)

FIGURE 26: UNITED KINGDOM IOT MONETIZATION MARKET, 2019-2027 (IN $ BILLION)

FIGURE 27: GERMANY IOT MONETIZATION MARKET, 2019-2027 (IN $ BILLION)

FIGURE 28: FRANCE IOT MONETIZATION MARKET, 2019-2027 (IN $ BILLION)

FIGURE 29: SPAIN IOT MONETIZATION MARKET, 2019-2027 (IN $ BILLION)

FIGURE 30: ITALY IOT MONETIZATION MARKET, 2019-2027 (IN $ BILLION)

FIGURE 31: RUSSIA IOT MONETIZATION MARKET, 2019-2027 (IN $ BILLION)

FIGURE 32: REST OF EUROPE IOT MONETIZATION MARKET, 2019-2027 (IN $ BILLION)

FIGURE 33: CHINA IOT MONETIZATION MARKET, 2019-2027 (IN $ BILLION)

FIGURE 34: JAPAN IOT MONETIZATION MARKET, 2019-2027 (IN $ BILLION)

FIGURE 35: INDIA IOT MONETIZATION MARKET, 2019-2027 (IN $ BILLION)

FIGURE 36: SOUTH KOREA IOT MONETIZATION MARKET, 2019-2027 (IN $ BILLION)

FIGURE 37: AUSTRALIA IOT MONETIZATION MARKET, 2019-2027 (IN $ BILLION)

FIGURE 38: REST OF ASIA PACIFIC IOT MONETIZATION MARKET, 2019-2027 (IN $ BILLION)

FIGURE 39: LATIN AMERICA IOT MONETIZATION MARKET, 2019-2027 (IN $ BILLION)

FIGURE 40: MIDDLE EAST & AFRICA IOT MONETIZATION MARKET, 2019-2027 (IN $ BILLION)

  1. MARKET BY COMPONENTS
    • SOLUTION
    • SERVICE
  2. MARKET BY ORGANIZATION SIZE
    • LARGE ORGANIZATION
    • SMEs
  3. MARKET BY INDUSTRIAL VERTICALS
    • RETAIL
    • IT & TELECOM
    • MANUFACTURING
    • TRANSPORTATION AND LOGISTICS
    • HEALTHCARE
    • BFSI
    • ENERGY & UTILITIES
    • OTHERS
  4. MARKET BY BUSINESS FUNCTIONS
    • MARKETING AND SALES
    • IT
    • FINANCE
    • SUPPLY CHAINS
    • OPERATIONS
  5. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF THE WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA

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