Published Date: 23-Sep-2022
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According to a new report, published by KBV research, The Global IoT Monetization Market size is expected to reach $1834.7 billion by 2028, rising at a market growth of 52.1% CAGR during the forecast period.
The Solution market is leading the Global IoT Monetization Market by Component in 2021; thereby, achieving a market value of $1,215.0 billion by 2028. The growth of the segment is rising at a very rapid pace due to the fact that organizations are increasingly adopting IoT monetization solutions as they look for ways to commercialize IoT through revenue-generating services and products or to differentiate their core product offerings.
The IT market is exhibiting a CAGR of 51.6% during (2022 - 2028). The segment is rapidly growing as a result of the growing IT sector all over the world. The IT sector is one of the major customers of IoT monetization services due to a substantial rise in the amount of data generated every minute. Hence, this factor is playing a major role in stimulating the growth of this segment of the IoT monetization market.
The Large Enterprises market shows high market share in Global IoT Monetization Market by Organization Size in 2021 in 2021; thereby, achieving a market value of $1,250.4 billion by 2028. The rapid expansion in the growth of this market is attributed to the significant amount of data that is being generated within this type of organization. Due to their large customer base, large enterprises generate a significant amount of data, which, when commercialized, can significantly benefit the business.
The BFSI market is generating high revenue in Global IoT Monetization Market in 2021; thereby, achieving a market value of $291.1 billion by 2028. The growth of the market is expediting due to the Rising disposable income of people worldwide. With a rise in the disposable income of people, the workload on banks along with other financial service providers is also expanding.
The North America market dominated the Global IoT Monetization Market by Region in 2021; thereby, achieving a market value of $705.0 billion by 2028. The Europe market is estimated to grow at a CAGR of 51.5% during (2022 - 2028). Additionally, The Asia Pacific market is exhibiting a CAGR of 52.8% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/iot-monetization-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Amdocs Limited, General Electric (GE) Co., Thales Group S.A. (Gemalto NV), SAP SE, Oracle Corporation, IBM Corporation, Cisco Systems, Inc., Ericsson AB, Intel Corporation and Aria Systems, Inc.
By Business Function
By Organization Size
By Industry Vertical
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