New @IDC Forecast Asserts WW #IoT 2 Grow 19%, Led by Digital Signage
Adrian J Cotterill, Editor-in-Chief
The worldwide Internet of Things (IoT) market is expected to grow 19% in 2015, led by digital signage, according to a new forecast from International Data Corporation (IDC).
The second annual forecast focuses on growing IoT use in 11 vertical industries, including consumer, retail, healthcare, government, manufacturing, transportation, and other industries (the report also sizes IoT opportunities for 25 vertical-specific use cases as well).
This new forecast specifically highlights worldwide spending across IoT; including smart appliances, automated public transit, remote health monitoring, digital signage, connected vehicles and air traffic monitoring, amongst others – we’d note that the comprehensive spending model was designed here, to help vendors clearly understand the industry-specific opportunity for IoT technologies today.
Other key findings from the new forecast include:
- The IoT market in manufacturing operations will grow from $42.2 billion in 2013 to $98.8 billion in 2018, a five-year compound annual growth rate (CAGR) of 18.6%. Growth will be driven by ongoing efforts to increase efficiency and link islands of automation.
- Digital signage use in retail outlets will grow from $6.0 billion in 2013 to $27.5 billion in 2018, a 35.7% five-year CAGR, as retailers continue to digitize the consumer experience.
- The hottest US market is in connected vehicles, with 34.8% year-over-year growth anticipated in 2015.
Bob Kraus, Senior Research Analyst, Global Technology and Industry Research Organization, IDC said “Working in concert with both IDC’s technology and regional analysts, we have built IoT market models for key vertical-specific use cases from the ground up. This forecast is an invaluable tool for those business leaders evaluating the vendor opportunities in IoT for a 12-layer technology stack, which includes modules/sensors, software, installation/ongoing services, and connectivity.”
A forecast update is planned for November 2015 which will evaluate additional vertical-specific use cases, including smart agriculture.
About IDC
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC’s analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a subsidiary of IDG, the world’s leading technology media, research, and events company.
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