This IDC study provides an update to IDC's worldwide IoT market outlook, according to IDC's December 2020 Worldwide Internet of Things Spending Guide. It also updates Worldwide Internet of Things Forecast, 20202024 (IDC #US45861420, August 2020).

This IDC study provides key considerations for technology suppliers in this evolving and complex market as well as some drivers and inhibitors of growth throughout the forecast period. This forecast is created from IDC's Worldwide Internet of Things Spending Guide. This iteration includes data presented in IDC's December 2020 Worldwide 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.

"COVID-19 has disrupted the entire economy including businesses' technology investment plans, and IoT projects are not immune," says Carrie MacGillivray, group vice president and general management, Worldwide Telecom, Mobility, and IoT Research at IDC, "Data from IDC's 2020 COVID-19 Impact on IT Spending Survey series demonstrates a trend toward recovery as the year wore on. IoT spending plans continued to trend upward as organizations started to look past the immediate crisis and returned to the next normal of operations and leaned into the idea of business resiliency using technology — including IoT — to prepare for the next chapter of their business."



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