Worldwide Internet of Things Spending Forecast by Vertical Market according to IDC.
The trend is unstoppable, and more than ever, it represents unmatched new
source of revenues for IOT vendors. For the users, the ramp-up of Internet of
Things means, living conditions improved.
As a forward-thinking IT leader with Global operations, Connectikpeople.co
is excited to help IT vendors understand the components of the IoT/M2M IT
ecosphere and to harness in real-time the derivative opportunities.
With this report (“Worldwide Internet of Things Spending by Vertical Market
2014-2017 Forecast,”), it is very important to observe that, the Internet of
Things market must be understood in terms of vertical markets because the value
of IoT is based on individual use cases across all markets. In addition, successful
sales and marketing efforts by vendors will be based on understanding the most
lucrative verticals that offer current growth and future potential and then
creating solutions for specific use cases that address industry-specific
business processes.
Some highlights captured by Connectikpeople.co include:
- IDC has looked at the components, processes, and IT support for IoT and expects the technology and services revenue to expand from $4.8 trillion in 2012 to $7.3 trillion by 2017 at an 8.8% CAGR, with the greatest opportunity initially in the consumer, discrete manufacturing, and government vertical industries.
- The IoT/M2M market is growing quickly, but the development of this market will not be consistent across all vertical markets. Industries that already "understand" IoT will see the most immediate growth, such as industrial production/automotive, transportation, and energy/utilities. However, all verticals will reflect great opportunity.
- IoT is a derivative market containing many elements, including horizontal IT components as well as vertical and industry-specific IT elements. It is these vertical components where IT vendors will have to distinguish themselves to address industry-specific IoT needs.
- IoT opens up many IT vendors to the consumer market, providing B2B2C services to connect and run homes and automobiles.
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. IDC helps IT professionals, business executives,
and the investment community make fact-based decisions on technology purchases
and business strategy. More than 1,100 IDC analysts provide global, regional,
and local expertise on technology and industry opportunities and trends in over
110 countries worldwide. For more than 50 years, IDC has provided strategic
insights to help our clients achieve their key business objectives. IDC is a
subsidiary of IDG, the world's leading technology media, research,
and events company. For more information, please visit www.idc.com,
