Feb 2018 - Market Forecast - Doc # US43304017
Worldwide Internet of Things Forecast Update, 2017–2021
By: Carrie MacGillivrayGroup Vice President, Internet of Things, 5G & Mobility, Marcus TorchiaResearch Director, Customer Insights & Analysis, Andrea SivieroResearch Manager, European Industry Solutions, Customer Insights & Analysis, Nigel WallisResearch Vice President, IoT and Industries, Milan KalalProgram Manager, European Customer Insights & Analysis Group, Roberto MembrilaAnalyst, ROC, Latin America, Ashutosh BishtSenior Research Manager, Antonio Liu, Yuta TorisuSenior Market Analyst, Communications, IDC Japan, Stacy CrookResearch Director, Internet of Things
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 the November 2017 update to the Worldwide Semiannual Internet of Things Spending Guide. In the most recent iteration, there were 53 use cases identified and sized across the technology, with up-front and recurring spend considered.
"By 2021, more than 55% of spending on IoT projects will be for software and services. This is directly in line with results from IDC's 2017 Global IoT Decision Maker Survey where organizations indicate that software and services are the key areas of focused investment for their IoT projects," said Carrie MacGillivray, group vice president, Internet of Things and Mobility at IDC. "Software creates the foundation upon which IoT applications and use cases can be realized. However, it is the services that help bring all the technology elements together to create a comprehensive solution that will benefit organizations and help them achieve a quicker time to value."