IoT Monetization Market Case Studies, and Use Cases, by Application Global Forecast to 2022

[112 Pages Report] The IoT monetization market was valued at USD 23.09 billion in 2015 and is expected to reach USD 443.27 billion by 2022, at a CAGR of 52.98% during the forecast period. The base year used for this study is 2015, and the forecast period considered is between 2016 and 2022. Internet of things has been a defining trend since the last decade with trillions of revenue expected from billions of connected devices. These connected devices are expected to generate a huge amount of data to be used by the companies to bring in innovation and automation in their businesses. The increase in revenue with the use of IoT would help all the diverse applications to grow. This aspiring technology is all set to bring in a transformation in the way of living and workstyle of human beings, thereby bringing in a new revolution for interactions between machines and human beings.

Market Dynamics

Drivers

• Increasing Internet connectivity
• Increased use of smartphones and other connected devices
• Growing adoption of cloud platforms
• Evolution of high-speed networking technologies

Restraints

• Lack of common communication standards across platforms
• Lack of power-efficient devices

Opportunities

• Significant number of investments in the IoT monetization market
• Significant government funding worldwide for R&D in IoT

Challenge

• Ensuring the security and privacy of the data collected

Increasing Internet connectivity and increased use of smartphones and other connected devices are the major drivers for the IoT monetization market

The use and penetration of the Internet or broadband facilities has increased in the last decade; it is high in the developed countries such as the U.S., Japan, and Germany. According to the census bureau of America’s current population survey (CPS) data documents, the continuous rise in broadband facilities among the people in the U.S. is particularly high for domestic use. The increasing number of Internet users all over the world is expected to strengthen the overall market for IoT monetization.

Increasing use of consumer electronics devices expected to drive the growth of the IoT monetization market

The increasing use of consumer electronics in building smart cities, smart buildings, and smart offices is expected to boost the demand for smart consumer electronics. With the emergence of a number of smart appliances that can connect to the Internet and smartphones, the IoT monetization market for consumer electronics applications is expected to grow during the forecast period.

North America to hold the major market share for IoT monetization market during the forecast period

North America, comprising the U.S., Canada, and Mexico, held the largest share of the IoT monetization market in 2015. The U.S. is a major contributor to the growth of the IoT monetization market in North America. The high growth of the market in North America can be attributed to the fast adoption of new technology by the masses and the presence of several IoT companies in the region, especially in the U.S.; these companies offer a wide range of IoT devices for applications in the retail, industrial, consumer electronics, healthcare, automotive & transportation, and other sectors.

The major players in the IoT monetization market are PTC, Inc. (U.S.), IBM Corp. (U.S.), Intel Corp. (U.S.), Cisco Systems, Inc. (U.S.), General Electric Co. (U.S.), Oracle Corp. (U.S.), Google Inc. (U.S.), Microsoft Corp. (U.S.), SAP SE (Germany), and Amdocs Ltd. (U.S.). The key innovators profiled in the report include Infosys Ltd. (India), Robert Bosch GmbH (Germany), and Tata Consultancy Services (TCS) (India).