IoT Monetization Market Forges Ahead with New Innovations

IoT monetization Industry

The small and medium enterprises are expected to grow at the highest CAGR during the forecast period due to increasing adoption of IoT monetization solutions.

The global IoT monetization market was valued at $44,198 million in 2017 and is projected to reach $1,361,395 million by 2025, growing at a CAGR of 53.6% from 2018 to 2025, according to the exclusive report published by Allied Market Research.

The major factors increasing the demand of the global IoT monetization market include growing penetration of connected devices such as home automation products, increasing internet connectivity, growing adoption of smartphones and IoT enabled products among developing economies, and rising adoption of cloud platforms. However, lack of proper network and internet connectivity in the underdeveloped and developing countries is expected to hamper the growth of the global market.

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Based on the component, the solution segment dominated the global IoT monetization market in 2017 and is expected to continue this trend during the forecast period due to increase in the use of service platforms to monetize IoT data as cloud computing reduces the complexity by supporting IoT data blending.

In 2017, the manufacturing segment accounted for the highest share of the global IoT monetization market and is projected to remain dominant during the forecast period due to its increasing adoption by manufacturers to cut costs, boost productivity, and achieve new efficiencies. However, the healthcare segment is expected to witness the highest growth, as the use of IoT is expected to grow fastest in healthcare sector over the next five years, to the tune of $117 billion by 2020.

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Leading Fortunes of IoT Monetization Industry Profiled

Amdocs, IBM Corporation, Ericsson, SAP SE, Oracle, Gemalto NV, Cisco Systems Inc., ARIA SYSTEMS Inc., Intel Corp., and General Electric Co.