With the advent of the Internet, everyday devices are now interconnected. Due to the proliferation of the IoT, several offices and homes have become smart –functioning through connected devices. Increased usage of smart devices such as smart phones and tablets is pushing the demand for IoT monetization. It is a trend that is becoming a serious business activity for many and opening doors for future growth. The IoT monetization market can be segmented on the basis of application into healthcare, building & home automation, retail, agriculture, automotive & transportation, consumer electronics, industrial, energy, and others.