This IDC study provides a forecast for the worldwide IoT infrastructure market for 2020–2024.

"COVID-19 will present significant headwind for many industries, including retail, transportation, and hospitality. Furthermore, some of the enterprise budget meant for IoT is now being repurposed for remote access and virtual workspace initiatives to ensure business continuity," said Patrick Filkins, senior research analyst, IoT and Mobile Network Infrastructure. "Even so, many organizations are viewing COVID-19 as a catalyst for digital transformation, which includes more spend funneled to edge cloud and networking solutions, which will benefit IoT-specific projects over the long term."



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