An
International Data Corporation (IDC) report has suggested that spending on the Internet of Things (IoT) will rise to $1.3 trillion before the end of the decade. IDC, which has headquarters in Framingham, Massachusetts, United States, was established in 1964. The company is a market research firm that specializes in analysis of the Information Technology (IT), software development, telecommunications, and consumer technology sectors. Its latest report suggests that IoT spending will climb more than 17% by 2019.
According to the report – an IDC Spending Guide entitled “Worldwide Semi-annual Internet of Things Spending Guide” – manufacturing and transportation led IoT spending in 2015, but over the next five years the emphasis will shift towards areas like insurance, healthcare and consumer goods, meaning homes will be more connected and home owners have more gadgets to operate. IDC suggests the consumer goods segment will rank third as far as expenditure is concerned by 2019.
"Manufacturing and Transportation are both a good fit for IoT deployments," explained Vernon Turner, IoT Research Fellow at IDC on the company’s website. “Both industries have been connecting their supply chains, products, customers, and even workers for some time now, and really embrace the value of business outcomes."
IDC's Spending Guides cover key technology markets from a “regional, vertical industry, use case, buyer, and technology perspective” and provide a “comprehensive spending guide” that is “designed to help vendors clearly understand the industry-specific opportunity for IoT technologies today”.
What do you think of the IoT? Will be grow to such an extent? Add your comments below.
