This IDC study provides key considerations for technology suppliers in this evolving and complex market as well as some of the drivers and inhibitors of growth throughout the forecast period. This forecast is created from IDC's Worldwide Semiannual Internet of Things Spending Guide. This iteration includes data presented in IDC's November 2019 Worldwide Semiannual Internet of Things Spending Guide, where 82 use cases and 20 additional industry-specific "other" use cases were identified and sized across the technology stack, with up-front and recurring spend considered.
"Spending on IoT deployments continues with good momentum. In Canada alone, IDC anticipates that the total IoT market will grow from $13.5 billion in 2019 to $21.8 billion in 2023," said Nigel Wallis, vice president, Internet of Things and Industries at IDC Canada. "While organizations are investing in hardware, software, and services to support their IoT initiatives, their next challenge is finding solutions that help them manage, process, and analyze the data being generated from all these connected things."
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