According to a recent report from IDC, “U.S. Internet of Things (IoT) Market Opportunity by Use Case,” the IoT in the U.S. alone is poised for significant growth, growing at 19.9%!
The study further breaks-down key areas of growth by vertical market – consumer, government, healthcare, manufacturing, retail, transportation, resource industries, utilities, insurance and cross-industry. Below are some key stats from the report:
- IoT market is projected to grow from $210.4 billion in 2015 to $337.4 billion by 2018
- Four largest markets for IoT growth in the U.S:
- Smart buildings
- Manufacturing operations
- Freight monitoring
- Remote health monitoring
- Manufacturing will be the largest IoT industry in the U.S. market for the next few years.
- Other markets that will experience strong growth include smart appliances, digital signage, connected vehicles, and insurance telematics.
The growth of IoT is undisputed – are you capitalizing on the opportunity? Ask yourself these questions:
- Can you quickly target new markets, adapt to changing market conditions and monetize software with innovative and flexible new licensing, pricing, and packaging models?
- How can you leverage software to differentiate and protect your offerings in highly competitive markets?
- Can you efficiently uncover new revenue opportunities from up-sell/ cross-sell activities and new licensing, pricing, and packaging models?
- How can you reduce manufacturing and inventory costs by leveraging electronic software licensing?
- Can you remotely monitor, diagnose and service connected products to provide more value-added and proactive support to your customers?
Internet of Things device manufacturers have come to us for help with the above challenges and more. We’ve been able help device manufacturers configure, monetize and track their software as they turn to software to deliver more value, differentiate from low-cost competitors and develop IoT applications.
More Internet of Things Resources:
- Read How Can You Monetize the Internet of Things? 5 Tips to Get You Started eBook
- View Internet of Things Software & Device Use Case Demonstration video
- Read Analyst Report: Gartner Software Licensing and Entitlement Management Is the Key to Monetizing the Internet of Things
- Read Market Trends: Move Beyond Homegrown Licensing and Entitlement as the IoT Creates New Revenue for Software
- Read Capitalize on the Internet of Things Opportunity with Software Monetization Solutions