19 May 2015
Spending projections include 25 use cases to provide insight on immediate opportunities for IoT technologies
FRAMINGHAM, Mass., May 19, 2015 – 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, while also sizing IoT opportunities for 25 vertical-specific use cases.
Unlike any other research in the industry, the new forecast specifically highlights worldwide spending across IoT use cases, including smart appliances, automated public transit, remote health monitoring, digital signage, connected vehicles, and air traffic monitoring, among others. The comprehensive spending model was designed to help vendors clearly understand the industry-specific opportunity for IoT technologies today.
- ClicktoTweet, @IDC Asserts Worldwide #InternetofThings Market to grow 19% in 2015, led by #Digitalsignage
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.