The world is swerving towards IoT-enabled devices and solutions, which results in a wide array of data and information. This secures exponential growth in the global IoT monetization market since many companies are investing and structuring their business models with these advancements. This potential is further backed by the surged adoption of internet connectivity and cloud platforms. In fact, IoT devices will also be witnessed in food services companies and oil extraction sites. Such statistics encourage budget allocation and investments by several companies.
Analytics is the core of IoT monetization. The optimization of the client’s business is the end result desired upon using the service. Moreover, many industrial verticals are set to generate vast data with the incorporation of IoT devices. The global market analysis by Inkwood Research projects immense revenue opportunities attributed to the rich presence of well-established and proficient players in the market.
Detailed list of the top 8 companies in the global IoT monetization market
1. ARIA SYSTEMS, INC.
Aria Systems, Inc. aids in the efficient monetization of the products and services of the business across the globe. It is credited to provide the only scalable and robust cloud-based platform assisting enterprises in fulfilling their customer demands through monetization models. The company designs, produces, and develops prepackaged computer software. Its product portfolio includes Aria for Connected Vehicles and Unlimited Monetization Platform Solution.
The company partnered with Fastly in March 2019, whereupon it was announced that the latter would continue to use the former’s cloud billing and monetization platform for consumer-oriented services. The company, with its diverse workforce and flexible work culture, can benefit from opportunities with more acquisitions and consumer awareness.
2. PTC INC.
The company develops technology solutions utilized for connecting products with the internet to record and analyze information. Its product portfolio includes service optimization solutions that offer technologies for cost reduction and the acceleration of productivity in terms of service technicians. The company launched its ThingWorx®Industrial IoT (IIoT) platform in June 2019. It integrates new capabilities with world-class solutions for catering to the digital transformation needs much better. The excellent brand portfolio of the company will be a boon if it decides to expand into new product categories.
3. SAP SE
The Germany-based company offers a varied product portfolio that includes SAP HANA & SAP S/4HANA, SAP Success Factors, SAP Ariba, SAP Fieldglass, and SAP S/4HANA Cloud. The company, with its headquarters in Walldorf, Germany, registers a global presence. Its operating segments include applications, technology 7 services, and SAP business network. The product portfolio also comprises IoT Edge Computing, SAP Cloud Platform Internet of Things, and SAP Leonardo Internet of Things. SAP SE announced the acquisition of Contextor SAS in November 2018 for accelerating the expansion of its SAP Leonardo Machine Learning portfolio. The company invests considerably in its R&D activities, which is evident in their products offerings. The strong financial base of the company can work in its favor in the new emerging markets.
4. GENERAL ELECTRIC CO.
The global digital industrial corporation offers a vast and varied range of products and services that include aircraft engines, power generation, consumer financing, and industrial products. Its product portfolio includes the Predix Platform and Prediz Essentials. The company markets and sold under the brand names: Infusion, Lumination, TriGain, Albeo, Tetra, Monogram, GE Café, GE Profile and GE, and Immersion.
Its business segments are aviation, power, healthcare, energy connections and lighting, renewable energy, transportation, oil & gas, and capital. The geographical outreach of the US-based company covers Europe, Asia, Australia, South America, North America, and Africa. The company has its headquarters in Boston, Massachusetts, the US.
One of the leading providers of software and services for media and communications companies, AMDOCS manages and implements software and services affiliated to business support systems (BSS), operational support systems (OSS), and network operations, aiding the service providers in introducing new products & services. The services also include system integration & transformation, managed services, resting, and strategic business consulting. The IoT Monetization Platform designed by the company enables the acceleration of enterprise, OEM partners, and the billing of IoT products & services. The company partnered with PJSC VimpelCom for a new digital IT modernization project to upgrade Beeline Russia’s Digital Business Systems. The stable free cash flow provides the company with many acquisitions and merger opportunities, along with international market exposure.
6. CISCO SYSTEMS, INC.
The company is a manufacturer of internet protocol (IP)-networking and provides next-generation network routing products for video and data applications, data centers, and network security. The product portfolio entails Cisco DNA Center and Data Control Module.
Cisco acquired Ensoft in November 2018 to strengthen its commitment and accelerate its strategy in terms of service deliverance. Moreover, the company has integrated Luxtera’s technology into its intent-based networking portfolio that comprises data center, enterprise, and service provider markets. The competent and committed customer relationship management and the successful launches of new products have kept it ahead of its competitors. The company can further strengthen its hold in the market through strategic alliances and acquisitions.
7. INTEL CORPORATION
Intel Corporation, a California-based company, founded in 1968, offers communication solutions, data storage, networking, and computing worldwide. It registers its presence and operations through the Data Center Group, Internet of Things Group, Client Computing Group, Programmable Solutions Group, Non-Volatile Memory Solutions Group, etc. The end-users of the products include original design manufacturers, original equipment manufacturers, cloud service providers, and industrial and communication equipment manufacturers. The company partnered with Telefonaktiebolaget LM Ericsson (publ) for developing software-defined infrastructure and with Baidu, Inc. for developing a neural network processor for training. In addition, it has acquired Omnitek, whose technology will enable customized high-performance vision and artificial intelligence (AI) inferencing capabilities on FPGAs for the consumers.
Ericsson provides communication & network equipment, along with services & software for network operations. The company’s network carries about 40% of the world’s mobile traffic. The varied portfolio includes digital services and emerging businesses powered by IoT platforms and Ericsson IoT Monetization and IoT connectivity management.
The company announced the inception of a Global Artificial Intelligence Accelerator (GAIA) innovation hub in Canada, engaged in research & development in Artificial Intelligence (AI) and automation utilizing innovative technologies for creating intelligent and data-driven systems. In addition, it has been consistent in maintaining its quality in products. However, the company faces credit risks, which can affect its customer base.
What to expect?
The lucrative IoT monetization market opportunities have resulted in numerous companies springing up to generate revenue from the plethora of data. Its conducive nature is strengthened by the expanding industry verticals, business functions, components, etc. But, the lack of conventional IoT standards hampers the potential of this technology and disrupts the enterprises from connecting their services to an extensive ecosystem. Moreover, due to the competitive nature of the market, new entrants face hindrances from well-established players.