IoT Monetization Market To Grow At CAGR of 53.6% And Reach 1,361,395 Billion by 2025

Upsurge in the number of smart cities projected and connected cars, increase in adoption of IoT monetization in agriculture, and significant adoption of smart devices such as tablets and smartphones drive the growth of the market.

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However, lack of IoT standards across platforms and rise in privacy as well as security concerns restrain the market growth. Conversely, growing investments in the IoT monetization market create new opportunities for the growth of the market.

According to the report, the global market generated $44.19 billion in 2017, and is expected to reach $1,361.39 billion by 2025, growing at a CAGR of 53.6% from 2018 to 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.

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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.

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.

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.

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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 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.

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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 with 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.

The leading market players analyzed in the report include Amdocs, IBM Corporation, Ericsson, SAP SE, Oracle, Gemalto NV, Cisco Systems, Inc., ARIA SYSTEMS, INC., Intel Corp., and General Electric Co. These market players have adopted various strategies including collaborations, joint ventures, partnerships, expansions, and others to gain a strong position in the industry.

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