target audience: TECH SUPPLIER Publication date: Sep 2023 - Document type: Market Forecast - Doc Document number: # US50030523
Worldwide Internet of Things Forecast, 2023-2027
This IDC study provides key considerations for technology suppliers in this evolving and complex market as well as select 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 Worldwide Internet of Things Spending Guide Taxonomy, 2023: Release V1, 2023 (IDC #US50791523, July 2023), and 19 technology categories and 70 named use cases (87 including sub–use cases) across 19 enterprise industries in 9 regions and 53 countries were identified and sized across the technology stack, with up-front and recurring spend considered.
"Updates to the IoT use case taxonomy in this release of the IoT Spending Guide reflect the evolving digital transformation investment objectives of enterprises. Thematically, greater investment in goods production and supply chains resulting from the COVID-19 pandemic and global reactions that caused massive business and societal disruptions is evident in the new use cases. These production and supply chain–related use cases can be seen in the discrete manufacturing, process manufacturing, retail, and transportation industries," said Marcus Torchia, research vice president with IDC's Data and Analytics Group.