This IDC study provides an update to IDC's worldwide IoT market outlook at a regional and technology level. It provides forecasts on the installed base by region as well as revenue projections from both a regional and technology split perspective. The document also highlights key considerations for technology suppliers in this burgeoning, and complex, market as well as some of the drivers and inhibitors to growth throughout the forecast period.
"While wearable devices are the consumer face of the Internet of Things, and where recognition of IoT appears to begin, the real opportunity remains in the enterprise and public sector markets," said Vernon Turner, senior vice president and research fellow (IoT), Enterprise Systems. "The rippled effect of IoT is driving traditional business models from IT-enabled business process to IT-enabled services and finally to IT-enabled products, which is beginning to disrupt the IT status quo."
"The Internet of Things gained some significant momentum in 2014 as vendors and enterprises alike started to make concrete plans to capture the opportunity this market presents," said Carrie MacGillivray, program vice president, IoT and Mobile research. "The challenge for vendors will be joining a strong ecosystem of partners that can provide a comprehensive solution. For enterprises, it will be determining which vendors understand their specific business problems and create solutions that are tailored to fit that business need. If these two challenges are overcome, the revenue potential that this market promises."