Introduction

The IoT Monetization Market, valued at USD 639.88 billion in 2023, is forecasted to skyrocket to USD 27,875.59 billion by 2032, growing at an astounding CAGR of 52.1%. This rapid growth is fuelled by the expansion of connected devices, 5G adoption, and the rising popularity of subscription-based and outcome-driven models. From smart cities to connected healthcare, businesses are discovering endless ways to generate revenue from IoT data.

But here’s the real question—are companies ready to scale fast enough to seize this trillion-dollar opportunity?

Key Players

Global tech giants are driving innovation. SAP, GE, Ericsson, Intel, Microsoft, Oracle, IBM, Amdocs, Thales, and Cisco are leading with platforms that integrate AI, edge computing, and cloud solutions to monetize IoT ecosystems. For instance, Microsoft’s Azure IoT Hub powers predictive maintenance, while Cisco’s IoT Control Centre optimizes connected services.

With so many heavyweights investing aggressively, do you think startups can carve out their share in this rapidly growing ecosystem?

Segmentation

By application, consumer electronics dominated with 71% share in 2023, thanks to the boom in smart devices and wearables. Interestingly, healthcare is set to grow fastest (55.46% CAGR) with remote monitoring and telehealth fuelling demand. By business function, IT leads with 27% share, but the supply chain segment is expanding rapidly (53.53% CAGR) as firms embrace real-time tracking and predictive logistics. Regionally, North America holds 44% share, while Asia-Pacific is the fastest-growing hub (54.39% CAGR) driven by smart city projects and industrial automation.

Will Asia soon surpass North America as the global IoT monetization leader?

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