IoT Monetization Market Key Highlights:
- Market Size (2024): USD 103.83 Million
- Projected Market Size (2034): USD 1,453.53 Million
- CAGR (2023-2034): 30.2%
Pricing Analysis:
- Price Growth
- Regional Variations
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
IoT Monetization Market Definition
The IoT monetization market is a prominent branch of the ICT and media industry. This industry deals in providing internet-enabled monetization solutions across the world. The various components of this market include solutions and services. The various business functions of this industry consist of marketing and sales, IT, finance, supply chain, operations, and others. This industry uses several methods, including data as a service, insight as a service, analytics-enabled platform as a service, and embedded analytics. These solutions find numerous applications in several organizations, including large and small enterprises. This market is expected to rise significantly with the growth of the IoT industry around the globe.
The demand for these solutions has increased in the BFSI industry. In the BFSI sector, IoT monetization services find several applications, such as smart insurance, usage-based offerings, smart branches, connected customer service, biometric authentication, supply chain financing, digital money lending, and others. Also, the application of IoT monetization has grown rapidly in the healthcare sector. In the healthcare industry, these services are used in patient monitoring, disease diagnosis, drug and equipment management, and robotic surgery. Moreover, the usage of these services has increased in the logistics industry. In the logistics sector, these services are used for several applications, such as fleet management, supply chain visibility, predictive maintenance, order fulfillment, and others. Thus, the growing application of these solutions in the above-mentioned sectors drives the growth of the IoT monetization market.
Advancements in edge computing along with numerous developments associated with smart cities and digital twins are expected to create ample growth opportunities for the market players in the future. In February 2023, Snowflake launched a telecom data cloud. Telecom Data Cloud is an IoT monetization platform that helps telecom companies to maximize their operational efficiency.
IoT Monetization Market Segmentation:
By Type
- Private Deployment Model
- Public Deployment Model
- Hybrid Deployment Model
By Application
- Retail
- Industrial
- Automotive & Transportation
- Building & Home Automation
IoT Monetization Market Companies:
- PTC
- INTERNATIONAL BUSINESS MACHINE
- GENERAL ELECTRIC
- SAP
- CISCO SYSTEMS
- AMDOCS
- INTEL
- ORACLE
- GOOGLE
- MICROSOFT.
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