Iot Monetization Market

Iot Monetization Market

Internet of Things (IoT) Monetization Market Forecasts to 2028 - Global Analysis By Component (Services and Solutions), Organization Size (Small Enterprises, Medium Sized Enterprises and Large Enterprises), Business Function, Deployment Type, Application and By Geography

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Published: 2023 ID: SMRC22827

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2022)

US $101.8 BN

Projected Year Value (2028)

US $1,040.2 BN

CAGR (2022 - 2028)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Asia Pacific

According to Stratistics MRC, the Global IoT Monetization Market is accounted for $101.8 billion in 2022 and is expected to reach $1,040.2 billion by 2028 growing at a CAGR of 47.3% during the forecast period. The Internet of things (IoT) monetization (IoT) is a process that enables service providers to make revenue through the sale of the data produced by IoT-connected devices. Data processing is made easier and quicker by internet-connected devices. It has a number of benefits, notably increased productivity, enhanced reengineering processes, and expanded market reach. The retail, information and technology (IT), telecommunications, manufacturing, transportation and logistics, healthcare, energy and utilities, and banking, financial services, and insurance (BFSI) sectors are just a handful of the industries where IoT monetization is used extensively.

Market Dynamics:


Growing adoption of cloud platform

IoT devices benefit from cloud computing because it offers a platform for data exchange and collaboration. This makes it simpler to manage a large number of devices and enables users to access their data from any device with an internet connection. To maximise the advantages of IoT architecture, cloud computing aids in storing and analysing this data. It is fuelling the market demand by lowering the boundaries between IT and OT.


Lack of communication standards

Interoperability concerns brought on by a lack of standardisation can cause compatibility issues and limited usefulness. The growth of the IoT adaptation market is influenced by elements including the absence of consistent communication rules across phases and the lack of force-capable devices. In addition, the shortage of energy-efficient equipment is impeding industry expansion.


Rise in government funding

Smart cities and smart nations are made possible by IoT. This covers community upkeep and infrastructure improvements. Government agencies will be able to interact with citizens more effectively through the use of IoT and AI. To provide quantifiable economic advantages, the government is heavily investing in IoT monetization. The monetization of their data results in an upsurge in income and an overall reduction in costs. These aspects are raising government funding and propelling the market demand.


Security and privacy of data

Many Internet of Things (IoT) devices don't encrypt the data they transport, which makes it possible for network intruders to capture passwords and other sensitive data sent to and from the device. The main security and protection concerns in IoT are verification, identification, and device heterogeneity. Reconciliation, flexibility, a moral correspondence system, action plans, and surveillance are all significant challenges hindering the market demand.

Covid-19 Impact

A few firms have been severely impacted by the COVID-19 pandemic, while the majority of others have been negatively impacted. The disease spread fast across the globe. Organisations have allowed their employees to work remotely during the pandemic, which has increased the use of conferencing platforms and positively boosted the growth of the IoT adaption market.

The solutions segment is expected to be the largest during the forecast period

The solutions segment is estimated to have a lucrative growth, due to increasing adoption by business organizations. Enterprises incorporate IoT monetization solutions to either distinguish their core product and service offerings or monetize IoT through revenue-generating goods and services. Its benefits such as efficient management and automation are driving the segment’s demand.

The manufacturing segment is expected to have the highest CAGR during the forecast period

The manufacturing segment is anticipated to witness the fastest CAGR growth during the forecast period. IoT monetization solutions provides numerous benefits in manufacturing industry such as streamline operations, reduced cost, improved customer acquisition and retention, and new sources of revenue. It increases efficiency and reduces errors. Its predictive maintenance and improved safety in manufacturing sector are fuelling the segment’s demand.

Region with largest share:

North America is projected to hold the largest market share during the forecast period. The IoT adaptation market is dominated with a significant portion of the market share attributed to the concentration of IoT companies in the region. It is anticipated that contemporary areas in this region would execute unique innovations at an increasing rate to accomplish their routine responsibilities. Additionally, the widespread rapid adoption of new technologies is much accountable for this region's domination.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the rising usage of IoT-enabled devices in its developing nations. Due to the increasing use of IoT technology in the region's automotive and mechanical industries, this region is expected to have the fastest growth throughout the predicted time period. Additionally, the growing digitization trend in emerging public business sectors like China and India is expected to drive the growth of the IoT adaption market.

Key players in the market

Some of the key players profiled in the IoT Monetization Market include Cisco Systems Inc, IBM Corporation, Intel Corporation, Oracle, Google, Microsoft, Thales Group, Nokia, SAMSUNG, Infosys Limited, CSG Systems International Inc, Netcracker, Magnaquest Technologies Ltd, Tata Consultancy Services Limited, Gemalto NV, PortaOne, Inc, JeraSoft, Robert Bosch GmbH, General Electric Co and SAP SE.

Key Developments:

In March 2023, Cisco and the Telenor Group announced an expanded partnership through the fifth iteration of their Joint Purpose Agreement (JPA)—to advance strategic priorities that benefit markets in which the companies jointly operate, including Environmental, Social, and Governance (ESG); as-a-service and automation innovations; and cybersecurity and multi-cloud as-a-service.

In February 2023, Intel launched the 4th Gen Intel® Xeon® Scalable processors with Intel® vRAN Boost, delivering 2 times the capacity gains gen over gen within the same power envelope and up to an additional 20% power savings with integrated acceleration, meeting critical performance, scaling and energy efficiency requirements.

In February 2022, IBM announced that it has acquired Sentaca, a leading telco consulting services and solutions provider. The acquisition will accelerate IBM's hybrid cloud consulting business, adding critical skills to help communications service providers (CSPs) and media giants modernize on multiple cloud platforms, innovate, and transform their businesses.

Components Covered:
• Services
• Solutions

Organization Sizes Covered:
• Small Enterprises
• Medium Sized Enterprises
• Large Enterprises

Business Functions Covered:
• Operations
• Supply Chain
• Finance
• Information Technology
• Sales & Marketing
• Other Business Functions

Deployment Types Covered:
• Cloud
• On Premise

Applications Covered:
• Industrial
• Retail
• Automotive
• Transportation
• Banking, Financial Services & Insurance (BFSI)
• Energy
• Agriculture
• Building & Home Automation
• Healthcare
• Consumer Electronics
• Manufacturing
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global IoT Monetization Market, By Component
5.1 Introduction
5.2 Services
5.3 Solutions

6 Global IoT Monetization Market, By Organization Size
6.1 Introduction
6.2 Small Enterprises
6.3 Medium Sized Enterprises
6.4 Large Enterprises

7 Global IoT Monetization Market, By Business Function
7.1 Introduction
7.2 Operations
7.3 Supply Chain
7.4 Finance
7.5 Information Technology
7.6 Sales & Marketing
7.7 Other Business Functions

8 Global IoT Monetization Market, By Deployment Type
8.1 Introduction
8.2 Cloud
8.3 On Premise

9 Global IoT Monetization Market, By Application
9.1 Introduction
9.2 Industrial
9.3 Retail
9.4 Automotive
9.5 Transportation
9.6 Banking, Financial Services & Insurance (BFSI)
9.7 Energy
9.8 Agriculture
9.9 Building & Home Automation
9.10 Healthcare
9.11 Consumer Electronics
9.12 Manufacturing
9.13 Other Applications

10 Global IoT Monetization Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa

11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies

12 Company Profiling
12.1 Cisco Systems Inc
12.2 IBM Corporation
12.3 Intel Corporation
12.4 Oracle
12.5 Google
12.6 Microsoft
12.7 Thales Group
12.8 Nokia
12.10 Infosys Limited
12.11 CSG Systems International Inc
12.12 Netcracker
12.13 Magnaquest Technologies Ltd
12.14 Tata Consultancy Services Limited
12.15 Gemalto NV
12.16 PortaOne, Inc
12.17 JeraSoft
12.18 Robert Bosch GmbH
12.19 General Electric Co
12.20 SAP SE

List of Tables
1 Global IoT Monetization Market Outlook, By Region (2020-2028) ($MN)
2 Global IoT Monetization Market Outlook, By Component (2020-2028) ($MN)
3 Global IoT Monetization Market Outlook, By Services (2020-2028) ($MN)
4 Global IoT Monetization Market Outlook, By Solutions (2020-2028) ($MN)
5 Global IoT Monetization Market Outlook, By Organization Size (2020-2028) ($MN)
6 Global IoT Monetization Market Outlook, By Small Enterprises (2020-2028) ($MN)
7 Global IoT Monetization Market Outlook, By Medium Sized Enterprises (2020-2028) ($MN)
8 Global IoT Monetization Market Outlook, By Large Enterprises (2020-2028) ($MN)
9 Global IoT Monetization Market Outlook, By Business Function (2020-2028) ($MN)
10 Global IoT Monetization Market Outlook, By Operations (2020-2028) ($MN)
11 Global IoT Monetization Market Outlook, By Supply Chain (2020-2028) ($MN)
12 Global IoT Monetization Market Outlook, By Finance (2020-2028) ($MN)
13 Global IoT Monetization Market Outlook, By Information Technology (2020-2028) ($MN)
14 Global IoT Monetization Market Outlook, By Sales & Marketing (2020-2028) ($MN)
15 Global IoT Monetization Market Outlook, By Other Business Functions (2020-2028) ($MN)
16 Global IoT Monetization Market Outlook, By Deployment Type (2020-2028) ($MN)
17 Global IoT Monetization Market Outlook, By Cloud (2020-2028) ($MN)
18 Global IoT Monetization Market Outlook, By On Premise (2020-2028) ($MN)
19 Global IoT Monetization Market Outlook, By Application (2020-2028) ($MN)
20 Global IoT Monetization Market Outlook, By Industrial (2020-2028) ($MN)
21 Global IoT Monetization Market Outlook, By Retail (2020-2028) ($MN)
22 Global IoT Monetization Market Outlook, By Automotive (2020-2028) ($MN)
23 Global IoT Monetization Market Outlook, By Transportation (2020-2028) ($MN)
24 Global IoT Monetization Market Outlook, By Banking, Financial Services & Insurance (BFSI) (2020-2028) ($MN)
25 Global IoT Monetization Market Outlook, By Energy (2020-2028) ($MN)
26 Global IoT Monetization Market Outlook, By Agriculture (2020-2028) ($MN)
27 Global IoT Monetization Market Outlook, By Building & Home Automation (2020-2028) ($MN)
28 Global IoT Monetization Market Outlook, By Healthcare (2020-2028) ($MN)
29 Global IoT Monetization Market Outlook, By Consumer Electronics (2020-2028) ($MN)
30 Global IoT Monetization Market Outlook, By Manufacturing (2020-2028) ($MN)
31 Global IoT Monetization Market Outlook, By Other Applications (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at

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