target audience: TECH SUPPLIER Publication date: Aug 2022 - Document type: Market Forecast - Doc Document number: # US49578922
Worldwide Internet of Things Forecast, 2022–2026
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 May 2022 Worldwide Internet of Things Spending Guide, where 68 use cases and 19 additional industry-specific "other" use cases were identified and sized across the technology stack, with up-front and recurring spend considered.
"This survey took place during a tumultuous spring during which organizations faced uncertainty related to the Russia-Ukraine War, inflationary pressures, and ongoing COVID-19 pandemic upheaval affecting supply- and buy-side economics," according to Stephen Minton, program vice president with the IDC Customer Insights and Analysis group, who is responsible for assessing the impact of global economic trends on IT.
"The trillion dollar questions are how long the supply-side challenges will persist, and whether the monetary tightening will lead to a global recession. We at IDC expect 18 to 24 more months of elevated rates of IT inflation, in the range of 7–8% across all IT categories, followed by a moderation to slightly below average rates in the 2 to 3 years following that," Minton said. (For more details, see "IT Inflation: Where it is Headed, and What To Do About It," blogs.idc.com/2022/06/08/it-inflation-where-it-is-headed-and-what-to-do-about-it/.)