Press Release - New Machina Research study points at US$1.3 trillion opportunity for successful monetization of the Internet of Things

04 November 2015

Machina Research, the world’s leading provider of strategic market intelligence on the Internet of Things, today published a White Paper, in conjunction with Redknee, focusing on the diverse monetisation requirements implicit in the growth of the Internet of Things

The growth of the Internet of Things is the defining technology trend of the next ten years, with billions of connected devices generating trillions of dollars of revenue. IoT covers a diverse range of enterprise and consumer use cases, each with their own characteristics and requirements. Each will also have its own requirements for monetization. Some will be simple, based on the transmission of data, but over time we expect the business models associated with IoT devices to be increasingly complex, encompassing the likes of multi-sided business models, data analytics, servitisation, and data exchange.

These changing business models bring with them more complex monetization requirements. Machina Research has looked at its global IoT forecasts through the prism of monetization and identified that a large and growing proportion of the revenue associated with IoT is related to more sophisticated monetization opportunities. Specifically, between 2014 and 2024, there is a total of US$1.3 trillion in IoT revenue that is available to companies that have sophisticated monetization capabilities. 

Commenting on the findings, Machina Research Founder Matt Hatton said: “The growth of IoT brings almost boundless diversity to the applications and services for which companies will need to charge. In many ways the beauty of the IoT is the way in which it permits and encourages new emerging business models. To be successful in IoT everyone will need to understand how to monetize this new massive opportunity.

Machina Research identifies seven key capabilities required by a monetization platform for the IoT: it must be scalable, open, real-time, flexible, transparent and secure, agile, and built with the diverse requirements of the IoT in mind.

Chris Newton-Smith, Chief Marketing Officer of Redknee added: “We are delighted to partner with Machina Research on investigating this critically important aspect of the IoT. Redknee has addressed emerging IoT monetization requirements in multiple vertical markets such as connected car and smart energy. Redknee’s Connected Suite is a modular solution that provides businesses with all of the tools necessary to monetize the IoT opportunity.

The White Paper is available to download HERE.

On the 1st December 2015 Machina Research will be running a webinar on this topic. Registration details can be found HERE

About Machina Research

Machina Research is the world’s leading provider of strategic advice on the newly emerging Internet of Things, M2M and Big Data markets. Our Advisory Service provides comprehensive support for any organisation interested in these opportunities. Our vertical market information and forecasts cover sectors such as Industry, Healthcare, Cars and Cities. Furthermore we provide guidance on commercial and technical best practice supporting all stakeholders in the sector including users, manufacturers, service providers, investors and regulators. In addition to our syndicated Advisory Service research we also undertake a wide range of client-specific custom research projects ranging from White Papers through to full go-to-market strategies. Machina Research is staffed by the leading industry analysts in the sector.

About Redknee

Redknee provides critical real-time monetization software to more than 250 customers, delivering the most innovative real-time billing and customer care solutions in the market.

Since its beginnings in 1999, Redknee has always been focused on helping its customers deliver and charge for services in new and innovative ways. In fact, Redknee’s solutions touch more than one third of the world’s population on a daily basis.

With more than 1,800 employees across the globe, Redknee is committed to helping all types of businesses succeed in today’s digital economy. Fast paced, responsive and agile, Redknee helps businesses to get new services to market faster, and lets customers pay in ways that work best for them.

From communication service providers to utility providers, automobile manufacturers and more, Redknee gives businesses the ability to charge for any type of digital content or service in real-time. As the Internet of Things (IoT) evolves, new partnerships are forming and new business models are taking shape. With this comes new and complex billing scenarios that require an agile, real-time billing platform that can step up to the challenge.

Contact

For further comments or more information on this press release, please contact: Matt Hatton, Founder & CEO, Machina Research

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