What is IoT Monetization?
The Internet of things monetization beneficial source of profit for various types of businesses that are generated through IoT based products and services. There are a number of large, small-medium sized enterprises are who are investing in it for the advantages of IoT monetization. There are various models for IoT monetization such as hardware premium, data revenue, services subscription, etc. The hardware premium approach involves the adding of chances to connect an existing or any kind of new product for its remote management. With the added features comes to the premium prices, that leads to revenue generation.
The market study is broken down, by Application (Large Size Enterprise and Small-Medium-Size Enterprise) and major geographies with country level break-up.
Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Oracle Corporation (United States), Intel Corporation (United States), Amdocs (United States), Thales (France), Zuora Inc. (United States), PTC Inc. (United States), Netcracker (United States), Flexera (United States), Synthesis Systems Inc. (United States), Dawex Systems (United States) and Cypress Semiconductor Corporation (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global IoT Monetization market by Type, Application and Region.
On the basis of geography, the market of IoT Monetization has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry Verticals, the sub-segment i.e. Retail will boost the IoT Monetization market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Model, the sub-segment i.e. Hardware Premium will boost the IoT Monetization market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Pricing Models, the sub-segment i.e. One-Time Charges will boost the IoT Monetization market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Consumer will boost the IoT Monetization market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On 6th April 2020, Cypress Semiconductor Corp. unveiled solutions that give IoT product developers a simplified path to build high-quality, secure, and reliable IoT products. The solutions, branded IoT-AdvantEdge, include connectivity devices and microcontrollers, software, tools and support, and capabilities from ecosystem partners to slash development complexity by solving critical IoT product design problems. With IoT-AdvantEdge, companies can overcome the challenges of wireless connectivity, device and cloud security, power consumption, device management and maintenance, component integration, consumer ease-of-use, human-machine interfaces, and platform monetization, to quickly bring reliable, secure, high-quality products to market.
On 28th October 2019, Amdocs launched RevenueONE, which enables communications service providers (CSPs) to capture every revenue opportunity in the digital economy. In a 5G ecosystem, CSPs will be able to quickly launch their own, and partner-based offerings, price plans, and bundles, with a variety of new one-time, subscription-based, and alternative (loyalty, social currency, ad-supported, etc.) payment models. This shift to future-ready monetization will change CSPs’ customer service relationships and foster innovative new service offers from smart spaces, IoT, and media to network slicing and edge monetization.
Market Trend
- Emerging IoT Monetization from Telecom and Smart Equipment Manufacturer
Market Drivers
- The Demand for Cost-Effective Service for Business for Growth
- Rapid Increase in IoT Technology for Smart Solutions
Opportunities
- Surging IoT Business Models, Partnerships, & Settlements will Boost the IoT Monetization
Restraints
- The Requirement of Notable Investmenst
- Lack of IoT Standards Limits
Challenges
- Limitation in Connecting the Products and Services into Larger Ecosystem
- Security and Privacy Concerns with IoT Monetization
Key Target Audience
IoT Monetization Providers, Research and Development Institutes, Financial Institutions and Venture Capital, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.