The world is swerving towards IoT-enabled devices and solutions, which results in a wide array of data and information. The global IoT monetization market thus is looking forward to exponential growth, since many companies are investing and structuring their business models in accordance with IoT monetization solutions. The growth prospects of the market are further supported by the increasing adoption of internet connectivity and cloud platforms. The adoption of IoT devices will also be witnessed in the food services companies and oil extraction sites. Such statistics enable and encourage budget allocation and investments by several companies.
Analytics is the core of IoT Monetization. The optimization of the client’s business is the end-result desired upon the use of an IoT service. Moreover, many industrial verticals are set to generate vast data with the incorporation of IoT devices. The global market analysis by Inkwood Research projects immense revenue growth opportunities due to the rich presence of well-established and proficient players in the market.
Below is the detailed offering of the top 8 companies in the global IoT monetization market:
- ARIA SYSTEMS, INC.
Aria Systems, Inc. aids in the efficient monetization of the products and services of the business across the globe. It has to its credit of providing the only scalable and robust cloud-based platform that comes in handy for the enterprises to fulfill their customer demands through the deployment of monetization models. The is primarily engaged in the design, production, and development of prepackaged computer software. Its product portfolio includes Aria for Connected Vehicles and Unlimited Monetization Platform Solution. The company partnered with Fastly, in March 2019, whereupon it was announced that the latter would continue to use the former’s cloud billing and monetization platform for consumer-oriented services. The company, with its diverse workforce and flexible work culture, can benefit market growth opportunities with more acquisitions and consumer awareness.
- PTC INC.
The company develops technology solutions, and its technology is utilized for connecting products with the internet for recording and analyzing information from them. Its product portfolio includes service optimization solutions that offer technologies for cost reduction and the acceleration of productivity in terms of service technicians. The company launched its ThingWorx®Industrial IoT (IIoT) platform in June 2019. It integrates new capabilities with world-class solutions for catering to the digital transformation needs in a much better manner. The excellent brand portfolio of the company will be a boon if ever the company decides to expand into new product categories.
- SAP SE
The Germany-based company offers a varied product portfolio that includes SAP HANA & SAP S/4HANA, SAP Success Factors, SAP Ariba, SAP Fieldglass, and SAP S/4HANA Cloud. The company, with its headquarters in Walldorf, Germany, registers a global presence. The company’s operating segments include Applications, Technology 7 Services, and SAP Business Network. The product portfolio also includes IoT Edge Computing, SAP Cloud Platform Internet of Things, and SAP Leonardo Internet of Things. SAP SE announced the acquisition of Contextor SAS in November 2018, for accelerating the expansion of its SAP Leonardo Machine Learning portfolio. The company invests considerably in its R&D activities, which is evident in the level of efficiency their products offer. The strong financial base of the company can work in its favor in the new emerging markets.
- GENERAL ELECTRIC CO.
The global digital industrial corporation offers a vast and varied range of products and services that include aircraft engines, power generation, and consumer financing and industrial products. The product portfolio of the company includes the Predix Platform and Prediz Essentials. The products of the company are marketed and sold under the brand names of Infusion, Lumination, TriGain, Albeo, Tetra, Monogram, GE Café, GE Profile and GE, and Immersion. The eight business segments of the company include Aviation, Power, Healthcare, Energy Connections and Lighting, Renewable Energy, Transportation, Oil & Gas, and Capital. The geographical outreach of the US-based company covers Europe, Asia, Australia, South America, North America, and Africa. The company has its headquarters in Boston, Massachusetts, the US.
One of the leading providers of software and services for media and communications companies, AMDOCS manages and implements software and services affiliated to business support systems (BSS), operational support systems (OSS), and network operations, which further aids the service providers in introducing new products & services. The services also include system integration & transformation, managed services, resting, and strategic business consulting. The IoT Monetization Platform designed by the company enables the acceleration of enterprise and OEM partners, and in the billing of IoT products and services. The company partnered with PJSC VimpelCom for a new digital IT modernization project that will upgrade Beeline Russia’s Digital Business Systems. The stable free cash flow provides the company with many acquisitions and merging opportunities, along with international market exposure.
- CISCO SYSTEMS, INC.
The company is a manufacturer of internet protocol (IP)-networking and, provides next-generation network routing products for video and data applications in addition to the data center and network security. The product portfolio entails Cisco DNA Center and Data Control Module. Cisco acquired Ensoft in November 2018, which will strengthen its commitment and accelerate its strategy in terms of service deliverance. Moreover, the company has integrated Luxtera’s technology into its intent-based networking portfolio that comprises data center, enterprise, and service provider markets. The competent and committed customer relationship management department and the successful launches of new products, has kept the company ahead of its competitors. The company can further strengthen its hold in the market through strategic alliances and acquisitions.
- INTEL CORPORATION
A California based company, Intel Corporation, was founded in 1968, and offers communication solutions, data storage, networking, and computing, across the globe. It registers its presence and operations through the Data Center Group, Internet of Things Group, Client Computing Group, Programmable Solutions Group, Non-Volatile Memory Solutions Group, etc. The end-users of the products include original design manufacturers, original equipment manufacturers, cloud service providers, and industrial and communication equipment manufacturers. The company partnered with Telefonaktiebolaget LM Ericsson (publ) for developing software-defined infrastructure, and with Baidu, Inc. for developing a neural network processor for training. The company has acquired Omnitek, whose technology will enable customized high-performance vision and artificial intelligence (AI) inferencing capabilities on FPGAs for the consumers.
Ericsson provides communication & network equipment, along with services & software for network operations. The company’s network carries about 40% of the world’s mobile traffic. The varied portfolio includes digital services and emerging business powered by IoT platforms, along with Ericsson IoT Monetization and IoT connectivity management. The company announced the inception of a Global Artificial Intelligence Accelerator (GAIA) innovation hub in Canada that will be engaged in research & development in Artificial Intelligence (AI) and Automation utilizing innovative technologies for creating intelligent and data-driven systems for evolution and automation. Apart from the competent research & development, the company has been consistent in maintaining its quality and creating excellent products at the same time. However, the company faces credit risks, and that is something that would affect its customer base.
What to expect?
The lucrative market growth opportunities have resulted in numerous companies springing up, wanting to generate revenue form the plethora of data in each of the segments. At the same time, it becomes important for the IoT solutions to be connected together since they remain more valuable by doing so. But, the lack of conventional IoT standards hampers the potential of this technology and disrupts the enterprises from connecting their services to a bigger ecosystem. The regulations and policies set by the government have to be followed. Moreover, the competitive nature is such that the new entrants have to face several well-established players in the market. The conducive nature of the global IoT monetization market is strengthened by the expanding industry verticals, business functions, components, etc.