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Monetization of IoT refers to the securing the IoT data either at rest or while moving along with monitoring of software and hardware and generating the data. Due to increased deployment of Internet of Things in various applications and business sectors, there is a large demand for monetization of IoT devices and data stored in them. As per Capgemini, IoT devices generate large volumes of data. Due to a number of advantages offered by IoT monetization such as cost-cutting, improved efficiency, re-engineer operations, reach new market etc. The global IoT monetization market is expected to grow at a CAGR of around 53% during the forecasted period 2016-2023. There has been increasing penetration of IoT devices in various application sectors such as healthcare, retail, automotive, transportation etc. There are very large volumes of unstructured data generated which is to be analyzed using data analytics tools. Therefore, the monetization of IoT is the most demanding technique to monitor and manage hardware, software, and data.
The key factor driving the growth of the global IoT monetization market is the increased internet connectivity worldwide. With the increasing number of smartphone and internet users worldwide, there is a large demand for high-speed internet connectivity. Telecom operators are facing tough market competition as each of them trying to deploy the available frequency spectrum most productively and provide best internet services at minimum charges. Due to an increasing number of smartphones and internet users, there is always an increasing demand for the fastest possible cellular network. The speed of typical LTE networks has dropped in the last 6 months of 2017. The gross LTE speed measured worldwide has decreased to 16.2 Mbps, down from the 17.4 Mbps. There have been great revolutions in 2016 to meet the demand for 4G network connectivity.
For Example: In India, people have rapidly shifted to Jio's 4G network which came up with lucrative schemes and free internet for almost 1 year. Due to this revolution, Reliance Jio already attracted more than 100 million subscribers in India and they have transitioned away from 3G networks and handsets to newer 4G technologies in September 2016. This implies that people availing of 4G internet services are still growing in India and a large number of Indian consumers are now on the 4G network. According to the CTIA Wireless Association, there has been increasing in the mobile data demand. In 2009, total data of 191 MB was transmitted across the entire U.S wireless networks i.e 21.8 million MB per hour. By 2014, 4 trillion MB of data usage was recorded. Anticipating this increase, the national broadband plan has forecasted that 500 MHz of data to be available for a wireless network by 2023. The data used on mobile networks would increase by approximately 25 times by the end of 2030, at an implied CAGR of growth of 22%. Thus, increased high-speed connectivity is driving the growth of IoT monetization market.
Source: OBRC Analysis
The report on global IoT monetization market includes deployment type and applications.
Deployment Type included in IoT monetization market report are:
The applications of global IoT monetization includes:
The global IoT monetization market report has been geographically segmented in:
North America held the largest market revenue share of the IoT monetization market in 2015. The U.S. is the largest contributing region boosting the growth of the market in North America. This is due to the presence of a majority of the key market players such as Apple, Google, Microsoft Corporation headquartered in the U.S. offers a wide range of IoT devices for applications healthcare, retail, automotive, transportation, and other sectors. The attributing factor accelerating growth of the IoT monetization market in North America is due to the fastest adoption of new technology by the masses and the presence of several IoT companies in the region, especially in the U.S. Asia Pacific is also the fastest growing region and is anticipated to grow at the highest CAGR during the forecasted period. The increasing deployment of the Internet of things in the industrial, automotive and transportation sectors in the Asia Pacific is boosting the growth of the market. The strong backbone support provided by the government in countries such as India and China to deploy and the development of the digital innovation and advancements is also boosting the growth of the market in the Asia Pacific. Moreover, factors such as cross-sector partnerships and economies of scale are driving the growth of the market in this region. The penetration of mobile Internet of Things in APAC is also expected to increase in the future years.
Global IoT monetization market report covers segmentation analysis of deployment type and applications. The report further covers segments of deployment type which includes on cloud and on-premise deployment models. Among these segments, cloud deployment is the leading segment due to the increased adoption of cloud-based services in the majority of the applications which is driving the growth of the market. Whereas, applications of IoT monetization includes healthcare, retail, automotive, transportation, energy, agriculture, etc.
The major market players in the global IoT monetization market are:
These companies are using various strategies such as merger & acquisition, collaboration, partnership and product launch to gain competitive advantage. Whereas product and service launch is the key strategy adopted by the companies in the IoT monetization market.
For Example; In April 2017, KORE announced its partnership deal with Rev.io to provide enhanced monetization to IoT and M2M technologies.
In June 2017, Cisco Systems IoT solution Cisco Jasper introduced a new improvised model to highlight the advantages of its IoT connectivity platform known as a control center in order to improve customer experience and provide its services to a broader audience.
The report covers a detailed analysis of companies which includes an overview, SCOT analysis, product portfolio, strategic initiative, strategic analysis, competitive landscape and market share analysis in IoT monetization market.
The key reason to buy the report:
How we are different from others:
At Occams we provide an extensive portfolio which is a comprehensive market analysis along with the market size, market share, and market segmentation. Our report on global IoT monetization market offers a detailed analysis of strategic models such as investment vs. adoption model, see-saw analysis and others, strategic models. Also, the report contains the detailed analysis of application, adoption scenario and decision support for each segment. The report discusses the competitive landscape of the IoT monetization market, giving extensive SCOT analysis of key companies.
Key findings of the global IoT monetization market: