The Latin America, Middle East and Africa IoT Monetization Market would witness market growth of 57.7% CAGR during the forecast period (2022-2028).
Industrial equipment, for instance, might be connected to a digital platform where providers generate extra revenue by charging consumers a subscription in exchange for insightful business data. This kind of monetization scheme results from the use of an adaptable software-as-a-service (SaaS) paradigm, which provides extra income on top of the core product/service. SaaS solutions are flexible, scalable, and adaptable, making them simple to implement across a range of sectors. SaaS solutions provide value-added services, which are the last layer needed to create a data ecosystem with real economic value.
The real benefits would come from utilizing and developing fresh business models based on the requirements and potential of ever-smarter machines while also ensuring that these models meet societal needs. An aggregation of machines over the network, where a large number of devices can buy and sell information, presents the opportunity to produce and charge for value in the case of machines supporting other machines.
The retail industry is highly developed in South Africa. The South African retail food industry is well-established and is still growing in other African nations. According to the Food and Agriculture Department, retail food sales in South Africa reached $40 billion in 2021, a 0.2% gain above 2020 as the country's economy started to recover from the COVID-19 pandemic's consequences. The expansion came after COVID-19 laws were relaxed and in-store shopping rates increased. The food retail sector in South Africa has proven to be strong and resilient during the outbreak and the upheaval in 2021, and the country continues to serve as the key entry point for commerce with other Southern African nations.
The Brazil market dominated the LAMEA IoT Monetization Market by Country in 2021; thereby, achieving a market value of $30.6 billion by 2028. The Argentina market is exhibiting a CAGR of 58.5% during (2022 - 2028). Additionally, The UAE market would experience a CAGR of 57.3% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Business Function, the market is segmented into Marketing & Sales, IT, Finance, Supply Chain and Operations. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Industry Vertical, the market is segmented into Manufacturing, BFSI, Retail, IT & Telecom, Transportation & Logistics, Healthcare, Energy & Utilities and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global IoT Monetization Market is Predict to reach $1834.7 Billion by 2028, at a CAGR of 52.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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.
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