The Global IoT Monetization Market is accounted for $35.41 billion in 2016 and expected to grow at a CAGR of 53.1% to reach $699.9 billion by 2023.
London, UK -- (SBWIRE) -- 06/29/2018 -- The Global IoT Monetization Market is accounted for $35.41 billion in 2016 and expected to grow at a CAGR of 53.1% to reach $699.9 billion by 2023. Various factors contributing to the expansion of the market growth are increased use of smartphones and other connected devices, adoption of the cloud technology, emergence of home automation products, rising demand for surface transportation systems and connected IoT sensors and wearable devices.
However, poor internet connectivity in the underdeveloped and developing economies and lack of power-efficient devices are hampering the market growth. Moreover, proliferation of smart city and smart lighting projects, government funding for R&D in IoT, IoT in aerospace & defense sector are expected to provide lucrative growth opportunities for the market.
Some of the key players of the IoT Monetization market include:
International Business Machine Corporation, Mircosoft Corporation, Oracle Corporation, SAP SE, Amdocs Ltd., PTC, Inc., Intel Corp., Cisco Systems Inc., Google Inc, Robert Bosch GmbH, General Electric Corporation and Facebook Inc.
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Based on Application, Energy/Utilities are responsible for managing the infrastructure that provides vital services to communities, including electricity, gas and water. Utility companies provide solutions for control of power grid communications between different devices, and remote reading of commercial, industrial and residential customers. They are used for applications such as grid monitoring and control, metering, asset management and tracking, and field force communication. For example, Stockholm Royal Seaport, in Sweden implemented smart home services by providing unified smart grid communication system, via the public 4G network and revenue protection due to fraud detection.
North America accounted for a large share in the overall market as, the U.S. is a key contributor to the IoT monetization market also there are several IoT companies in this region. Asia Pacific is expected to have highest CAGR during the forecast period due to increasing use of IoT in industrial and automotive & transportation applications.
Furthermore, consumption market share for each application is offered in the research for 2017 in a tabular format. Regional analysis is discussed in terms of current market status and growth prospects for the period, 2012–2023. Geographies analyzed in the study are North America, Europe, Asia Pacific, South America and Middle East & Africa. Statistics on revenue and growth rate for each region are mentioned with the help of figures for the historic period and the forecast period.
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- Automotive and Transportation
- Consumer Electronics
- Other Applications
Table of Contents
1 Executive Summary
3 Market Trend Analysis
4 Porters Five Force Analysis
5 Global IoT Monetization Market, By Application
6 Global IoT Monetization Market, By Deployment
7 Global IoT Monetization Market, By Geography
8 Key Developments
9 Company Profiling
9.1 International Business Machine Corporation
9.2 Microsoft Corporation
9.3 Oracle Corporation
9.4 SAP SE
9.5 Amdocs Ltd.
9.6 PTC, Inc.
9.7 Intel Corp.
9.8 Cisco Systems Inc.
9.9 Google Inc
9.10 Robert Bosch GmbH
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