This IDC study analyzes the Internet of Things (IoT) market at a worldwide level and by region. It provides an update to the worldwide IoT market outlook published in Worldwide Internet of Things (IoT) 2013–2020 Forecast: Billions of Things, Trillions of Dollars (IDC #243661, October 2013). It updates the worldwide IoT units installed and revenue split by region. The full breadth of the IoT ecosystem revenue is put forth in the revenue forecast, encompassing revenue from the IoT system shipments themselves as well as revenue from connectivity services, infrastructure, purpose-built IoT platforms, applications, security, analytics, and professional services attributable to the base of installed IoT systems. The study discusses the key themes contributing to and characterizing the worldwide and regional growth of the IoT.
"Despite the Internet of Things being a relatively new construct around the world for businesses and consumers alike, IDC research confirms the awareness of the value of IoT solutions is increasingly being recognized as transformative to business, governments, and consumers and the way each party experiences, operates, and innovates in the world. Visible trials and early implementations create a virtuous circle," said Carrie MacGillivray, program vice president, Mobile Services, IoT, and Infrastructure. "From smart meters and operational and cost efficiencies to smart buildings and smart home systems, end users are able to see and feel the tangible benefits of IoT. This will spur increased demand for IoT solutions around the world."