The market is categorized by the size of organizations, with a focus on Small and Medium Enterprises (SMEs) and Large Enterprises. Notably, the SME segment is anticipated to experience the highest growth rate during the forecast period from 2019 to 2025.
Request To Download Free Sample of This Strategic Report: https://www.reportocean.com/industry-verticals/sample-request?report_id=IR163
Application
The IoT monetization market is divided based on application areas. These applications include:
- Commercial Building
- Transportation and Logistics
- Telecom
- Smart Home Appliances
- Government
- Manufacturing
- Others
Among these, the transportation and logistics segment is estimated to hold the largest market share in 2019 and is expected to maintain its dominance throughout the forecast period.
Region
The report provides an analysis of the market’s regional landscape, covering:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Market Overview
The IoT monetization market is poised to exhibit substantial growth, with a projected CAGR of over 20% from 2019 to 2025. This growth is primarily driven by the surging demand from the telecom and smart equipment manufacturing sectors to monetize and manage smart devices through connectivity and networks. Furthermore, the integration of various IoT devices and functions is expected to enhance the efficiency of smart products, supported by cloud technologies for enterprises.
IoT billing and invoicing vendors play a crucial role in optimizing revenue generation and improving the customer experience. Across the globe, organizations in various industries are modernizing their offerings, expanding their customer reach, and enhancing operational efficiency within the IoT ecosystem. Governments are also adopting smart devices for monitoring and billing in applications such as tolls, while simultaneously electrifying residential buildings and industries.
Regional Insights
Asia Pacific
Asia Pacific accounted for the largest market share in 2019. With a significant presence of technology innovators and market disruptors in North America, the adoption of IoT platforms is expected to see substantial growth in the United States and Canada. Enterprises in this region are focused on enhancing custom-built IoT platforms, device monitoring, seamless integration, built-in security, and easy deployment. The region’s potential, with countries like China and India, drives investments in IoT and consumerization prospects.
Europe
The European market is also expected to grow at a high CAGR, owing to the presence of numerous large and emerging enterprises in utilities and telecom equipment providers in countries such as Germany, the UK, and France. This billing platform helps enterprises generate more revenue through subscription models and gain insights into customer usage patterns to boost monetization strategies. The integration of various applications for IoT services, driven by technological advancements, is a key component of the market’s growth.
Key Players
In the IoT monetization market, leading Operations Support System (OSS)/Business Support System (BSS) players, along with robust IoT platform providers, are driving the market’s growth. Emerging vendors in the digital space are also expected to grow due to organizations’ increasing need for a comprehensive approach in adopting digital technologies. Key players in the market, such as Comarch, JeraSoft, Amdocs, Magnaquest, and Cerillion, are leveraging OSS/BSS technologies to monitor smart product usage in applications or infrastructure. These companies are actively adopting organic growth strategies, including new product launches and expansion, to maintain a strong position in the market.
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean is the world’s leading research company, known for its informative research reports. We are committed to providing our clients with both quantitative and qualitative research results. As a part of our global network and comprehensive industry coverage, we offer in-depth knowledge, allowing informed and strategic business conclusions to report. We utilize the most recent technology and analysis tools along with our own unique research models and years of expertise, which assist us to create necessary details and facts that exceed expectations.