IoT Monetization - Global Market Outlook (2016-2022)
According to Stratistics MRC, the Global IoT Monetization market is estimated at $22.89 billion in 2015 and is expected to reach $430.67 billion by 2022 growing at a CAGR of 52.08% from 2015 to 2022. Rapid increase in smart devices and rapid growth in internet connectivity since last decade are the key drivers fueling the market growth. Whereas low standards of communication over different platforms is the major restraining factor hampering the market growth. Flow of funds towards research and development is opportunity factor for the IoT monetization market. On the other hand data protection is the factor challenging the market growth.
Automotive & transportation applications are anticipated to be the leading application in the global IoT Monetization market by 2022 owing to increase in inception of IoT technology in automobile industry. Whereas consumer electronics is expected to show lucrative growth rate during forecast period because of increase in usage of smart devices. North America leads the global IoT Monetization market owing to due to technological advancements and early adoption of IoT in the region. Asia-Pacific region is a prospective market owing to increasing technological adoption and government initiatives in this region.
Some of the key players in the market include Amdocs Ltd., Microsoft Corp., Cisco Systems, Inc., Google Inc., SAP SE, PTC, Inc., Oracle Corp., General Electric Co., Intel Corp And International Business Machine Corp.
• Building & Home Automation
• Automotive & Transportation
• Consumer Electronics
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• Rest of the World
o Middle East
o South Africa
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