This market research report includes a detailed segmentation of the global IoT (Internet of Things) monetization market by organization size (SME and Large Enterprises), by application (commercial building, transportation and logistics, telecom, smart home appliances, government, manufacturing, and others), and by region (North America, Europe, Asia Pacific, Middle East Africa, and Latin America). The market research report identifies Comarch, Amdocs, Ericsson, Magnaquest, Cerillion, JeraSoft, PortaOne, BillRun, NetCracker, and IoT Billing as the market leaders operating in the global IoT monetization market.
Overview of the IoT Monetization Market
Trends market research report predicts that the global IoT monetization market will grow at a CAGR of more than 20% during the forecast period 2019–2025. The market trends for IoT monetization market is primarily driven by the increasing demand from telecom and smart equipment manufacturer to monetize and manage the smart equipment through connectivity and networks. The integration of various IoT devices and functions are expected to drive efficiency in smart products, along with cloud technologies for enterprises.
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IoT billing and invoicing vendors help companies to optimize their revenue generation and enhance customer experience. Globally, organizations of different industries are modernizing their offering, transforming its customer reach along with bringing out the operational efficiency for the various IoT players in the ecosystem. Governments are also expected to use various smart devices for monitoring and billing in places such as tolls and others, along with electrification of residential buildingsand industries.
According to our IoT monetization market analysis, Asia Pacific accounts for the largest market share in 2019. With the presence of the high number of technology innovators and market disruptors in North America, the adoption of these platforms are expect to grow heavily in US and Canada. Several enterprises in this region are focusing to enhance custom built IoT platforms, device monitoring, seamless integration, built-in security, and easy deployment. Asia Pacific is anticipated to grow substantially due to market potential of countries such as China, India, and investments in IoT and consumerization prospects in these growing markets. The IoT billing market is growing with increasing need to monetize the IoT deployments. Europe market is also expected to grow at a high CAGR owing to presence of many large and emerging enterprises in utilities and telecom equipment providers in countries such as Germany, UK, and France. This billing platform helps enterprises to generate more revenue through subscription model and analyze the insights to understand the usage patterns of customers to boost its monetization plans and strategy. The key component in the market would be various technology influx in integration of various applications for IoT services. It would be interesting to see how quickly the IoT system and subcription models are commercialized and consumerization takes place in the market.
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IoT Monetization Market Competitive Analysis and Key Vendors
The report covers and analyzes the IoT monetization market. Top Operations Support System (OSS)/Business Support System (BSS) players along with strong IoT platform providers are leading the market, along with emerging vendors in digital space and are expected to grow owing to the need of organizations for a comprehensive approach while adopting digital technologies. The key players in the market are adopting various organic growth strategies, i.e., new product launches and expansion strategies to be in a strong position in the market with distinguished products.
Some of the Key Vendors in the IoT Monetization Market:
These companies are striving in the market sphere by leveraging OSS/BSS technologies that help smart product usage monitoring in applications or infrastructure. Top telecom equipment manufacturer and experts in OSS/BSS are focusing on new offerings that benefits various players in the IoT ecosystem.
There are few other vendors that have been studied based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D for analysis of the entire ecosystem.
IoT Monetization Market By Organization Size
- Large Enterprises
The SMEs segment is expected to grow at the highest rate during the forecast period 2019–2025.
IoT Monetization Market By Application
- Commercial Building
- Transportation and Logistics
- Smart Home Appliances
The transportation and logistics segment is estimated to hold the largest market share in 2019 and this trend is likely to continue during the forecast period 2019–2025.
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The report provides an in-depth analysis of the IoT monetization market. The IoT billing and invoicing platform combines various technologies of automation, mobility, cloud, analytics, and IoT monetization to offer multiple innovative intelligent features in enterprise application efficiencies. By analyzing various enterprise and consumer usage, the vendors are expected to grow multi-folds during the forecast period. The digital technologies adoption propel the need to monetize IoT services and subscription models. The report discusses the market size in terms of organization size, application, and region. Furthermore, the report provides details about the major challenges impacting the market growth.