IoT Monetization Market worth 443.27 Billion USD by 2022

IoT Monetization Market worth 443.27 Billion USD by 2022
The IoT monetization market was valued at USD 23.09 Billion in 2015 and is expected to reach USD 443.27 Billion by 2022, at a CAGR of 52.98%

The increasing Internet connectivity, increased use of smartphones and other connected devices, and growing adoption of cloud platforms are the major drivers for the market. The use and penetration of the Internet or broadband facilities has increased over the last decade, the rate of which is high in the developed countries such as the U.S., Japan, and Germany. This factor is expected to propel the growth of the IoT monetization market during the forecast period.

The major players in the IoT monetization market are PTC, Inc. (U.S.), IBM Corp. (U.S.), Intel Corp. (U.S.), Cisco Systems, Inc. (U.S.), General Electric Co. (U.S.), Oracle Corp. (U.S.), Google Inc. (U.S.), Microsoft Corp. (U.S.), SAP SE (Germany), and Amdocs Ltd. (U.S.). The key innovators profiled in the report include Infosys Ltd. (India), Robert Bosch GmbH (Germany), and Tata Consultancy Services (TCS) (India).

The scope of this report covers the IoT monetization market on the basis of application and geography. Automotive & transportation applications are expected to hold the largest share of the overall market during the forecast period. The rising adoption of IoT by automotive manufacturers is driving the growth of the market for automotive & transportation applications. The market for consumer electronics applications is expected to grow at a high rate between 2016 and 2022.