The global market for Internet of Things (IoT) Monetization was estimated at US$263.6 Billion in 2023 and is projected to reach US$4.5 Trillion by 2030, growing at a CAGR of 49.8% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Global Internet of Things (IoT) Monetization Market - Key Trends and Drivers Summarized
How Is Internet of Things (IoT) Monetization Unlocking New Revenue Streams?
The Internet of Things (IoT) monetization refers to the process of generating revenue from IoT ecosystems through data, devices, and services. As IoT adoption continues to grow across industries, businesses are looking for ways to capitalize on the vast amounts of data generated by connected devices. IoT monetization strategies include offering subscription-based services, selling data analytics, and developing new business models such as pay-per-use or outcome-based pricing. For example, manufacturers are leveraging IoT data to offer predictive maintenance services, while retailers are using IoT-enabled customer insights to provide personalized marketing and targeted advertising. Monetization is enabling businesses to unlock new revenue streams while delivering more value to customers through data-driven insights and services.What Technological Advancements Are Enabling IoT Monetization?
Technological advancements in big data analytics, artificial intelligence (AI), and blockchain are facilitating IoT monetization. Big data platforms and AI-powered analytics allow businesses to process and analyze the vast amounts of data generated by IoT devices, turning raw data into actionable insights. These insights can be used to optimize operations, enhance customer experiences, and offer personalized services. Blockchain technology is also emerging as a key enabler of IoT monetization by providing secure, transparent mechanisms for data sharing and transactions, ensuring that data owners are compensated for their contributions. Furthermore, advancements in cloud computing are making it easier for companies to scale IoT services, offering subscription models that provide ongoing revenue streams.How Do Market Segments Define the Growth of IoT Monetization?
Components include platforms for data management, billing systems, and analytics tools, with data analytics platforms leading the market as businesses seek to derive value from IoT data. Business models include subscription services, data-as-a-service, and outcome-based pricing, with subscription services being the largest segment due to their ability to provide recurring revenue. Industry verticals include manufacturing, retail, healthcare, and transportation, with manufacturing leading the market as companies adopt IoT solutions for predictive maintenance and supply chain optimization. The market is growing rapidly in regions such as North America and Europe, where digital transformation and data-driven business models are widespread, and expanding in Asia-Pacific, driven by industrial IoT adoption.What Factors Are Driving the Growth in the IoT Monetization Market?
The growth in the IoT monetization market is driven by several factors, including the increasing value of IoT data, advancements in analytics and AI technologies, and the rising adoption of subscription-based services. As more devices become connected, the data they generate is becoming a valuable asset that businesses can monetize through new services and business models. AI-driven analytics platforms are further enabling companies to unlock insights from IoT data, driving demand for data-as-a-service offerings. Additionally, the shift toward subscription-based services and outcome-based pricing is fueling growth, as companies seek to create ongoing revenue streams from IoT-enabled products and services.Key Insights:
- Market Growth: Understand the significant growth trajectory of the Solutions Component segment, which is expected to reach US$3.2 Trillion by 2030 with a CAGR of a 51.3%. The Services Component segment is also set to grow at 46.2% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was estimated at $74.9 Billion in 2023, and China, forecasted to grow at an impressive 46.1% CAGR to reach $587.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Internet of Things (IoT) Monetization Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Internet of Things (IoT) Monetization Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Internet of Things (IoT) Monetization Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Internet of Things (IoT) Monetization market such as ABB Ltd., ABB S.p.A, Aeris Communications, Inc., AMDOCS, Aria Systems, Inc. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 37 companies featured in this Internet of Things (IoT) Monetization market report include:
- ABB Ltd.
- ABB S.p.A
- Aeris Communications, Inc.
- AMDOCS
- Aria Systems, Inc.
- Avnet, Inc.
- Ayla Networks, Inc.
- BSMART System Solutions Sdn. Bhd.
- Cisco Systems, Inc.
- Clipkick, Inc.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
Companies Mentioned
- ABB Ltd.
- ABB S.p.A
- Aeris Communications, Inc.
- AMDOCS
- Aria Systems, Inc.
- Avnet, Inc.
- Ayla Networks, Inc.
- BSMART System Solutions Sdn. Bhd.
- Cisco Systems, Inc.
- Clipkick, Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 93 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 263.6 Billion |
| Forecasted Market Value ( USD | $ 4500 Billion |
| Compound Annual Growth Rate | 49.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
