Allied Market Research published a report, titled, “IoT Monetization Market by Component (Solution and Services), Organization Size (Large Enterprises and Small & Medium Sized Enterprises), Industry Vertical (Retail, IT & Telecom, Manufacturing, Transportation & Logistics, Healthcare, BFSI, Energy & Utilities, and Others), and Business Function (Marketing & Sales, IT, Finance, Supply Chain, and Operations): Global Opportunity Analysis and Industry Forecast, 2018 – 2025.” As per the report, the global IoT Monetization Market was estimated at $44.19 billion in 2017 and is expected to hit $1,361.3 billion by 2025, registering a CAGR of 53.6% from 2018-2025.
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The growing number of smart cities, mounting growth in digitalization and increasing adoption of IoT monetization in Agriculture have helped the market grow beyond the bars. On the other hand, lack of IoT standards across several platforms and increasing security, as well as privacy concerns, have happened to check the growth to some extent. Nevertheless, top-end investments in the IoT projects have paved the way for a number of lucrative opportunities in the segment.
The report states an extensive analysis of the market scope, top investment factors, top-winning strategies, growth factors, opportunities and market size & forecast. By component, the solution segment contributed to more than two-thirds of the total market and is expected to maintain its leadership status throughout the forecast period. The rise in use of service platforms to monetize IoT data has rocketed the growth. By organization size, large enterprises dominate the market and accounted for three-fifths of the total market in 2017. The fact that the adoption of IoT monetization tools has become an integral part of these large-scale organizations to sustain in the competitive market has made the segment hold the major market share. By Industry vertical, the manufacturing sector held more than one-fourth of the total market and has come out to be the largest shareholder in the segment.
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The report offers quite a few key market players including IBM Corporation, SAP SE, Oracle, General Electric Co., Cisco Systems, Inc., Amdocs, ARIA SYSTEMS, INC., Intel Corp., Gemalto NV, and Ericsson.
Driving factors for the market
- Rising market for smart cities and connected cars
- The growth in digital disruptions
- Growing adoption of IoT Monetization in Agriculture
Market Restraints and Opportunities:
- Lack of IoT standards across platforms
- Rising privacy as well as security concerns
- Growing investments in the IoT projects
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.