DUBLIN--(BUSINESS WIRE)--The "Global IoT Monetization Market By Organization Size (SME and Large Enterprises), By Application (Commercial Building, Transportation and Logistics, Telecom, Smart Home Appliances, Government, Manufacturing), and By Region - Forecast up to 2025" report has been added to ResearchAndMarkets.com's offering.
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.
IoT billing and invoicing vendors help companies to optimize their revenue generation and enhance the 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 buildings and industries.
According to the 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 expected to grow heavily in the 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. The Asia Pacific is anticipated to grow substantially due to the 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. The European market is also expected to grow at a high CAGR owing to the 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 a subscription model and analyze the insights to understand the usage patterns of customers to boost their monetization plans and strategy. The key component in the market would be various technology influx in the integration of various applications for IoT services. It would be interesting to see how quickly the IoT system and subscription models are commercialized and consumerization takes place in the market.
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.
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 benefit 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.
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.
- IoT Billing
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