IoT Monetization Market is Expected to Revolutionary Growth by 2025 (CAGR of 53.6% Recorded) Prominent Key players Amdocs, IBM Corporation, Ericsson, SAP SE, Oracle, Gemalto NV,Cisco Systems Inc., Intel Corp.,General Electric Co.

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.

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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.

Based on a 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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Key Findings of the IoT Monetization Market:

•By component, the services segment is expected to exhibit significant growth in the global IoT monetization market during the forecast period.

•In 2017, the solution segment accounted for the highest revenue in the component category.

•Based on industry vertical, the manufacturing segment generated the highest revenue in 2017.

•Based on organization size, large enterprises generated the highest revenue in 2017.

•Based on region, Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.

•Solutions segment to remain dominant, services to grow the fastest through 2025

Solutions segment to remain dominant, services to grow the fastest through 2025 :

The solution segment held the largest market share of 68.5% in 2017 and is expected to remain dominant throughout the forecast period. This is attributed to the increased use of IoT monetization solutions among organizations. However, the services segment would grow at the highest CAGR of 55.3% from 2018 to 2025, owing to the growing adoption of cloud-based IoT monetization service among small and medium enterprises.

Large enterprises segment to maintain lead, small & medium-sized enterprises to portray the fastest growth:

The large enterprises' segment contributed 60.7% of the total market share in 2017 and would maintain its dominance through 2025. This is on account of the high adoption of IoT monetization tools in large-scale organizations. However, the small & medium-sized enterprises segment would grow at the fastest CAGR 54.5% from 2018 to 2025 due to the growing adoption of IoT monetization solutions and increasing inclination toward cloud-based IoT monetization tools.

Manufacturing segment to accrue lion's share, healthcare segment to exhibit the fastest growth:

The manufacturing segment generated the highest share of 28.2% in 2017 and is projected to continue this trend during the forecast period. This is due to the numerous benefits offered by IoT monetization solutions to the manufacturing industry, which include streamlined operations, reduced cost, improved customer acquisition and retention, and new sources of revenue from the insights generated by instrumented products and product development processes. However, the healthcare division is anticipated to grow at the fastest CAGR of 60.6% during the study period, due to the high adoption of IoT in the healthcare sector. The report also analyzes various industry verticals such as retail, IT & telecom, transportation & logistics, BFSI, energy & utilities, and others.

Sales and marketing segment to retain top position, finance segment to witness the fastest growth:

Sales and marketing segment dominated the market in 2017, generating 36% of the total revenue. The segment is projected to maintain this trend through 2025 due to the growing adoption of IoT data to attract new customers as well as retain their existing database. However, the finance business function is estimated to grow at the highest CAGR of 57.1% through the forecast period, as it is in high demand in highly regulated industry verticals, such as BFSI, consumer goods and retail, and others where the companies use IoT monetization tools to analyze large amounts of data and create actionable insights.

North America to maintain its lead, Asia-Pacific to be the fastest growing segment through 2025:

North America contributed 42.0% of the total market share in 2017 and is expected to maintain its lion's share during the forecast period. This is due to stringent regulations by governments in countries such as China and Japan and strict compliance to safety rules. However, Asia-Pacific would emerge as the fastest CAGR of 57.1% from 2018 to 2025 due to the growing penetration of IoT in the automotive and transportation industries in the region.

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