The worldwide Internet of Things (IoT) market is expected to grow 19% in 2015, led by digital signage, according to a new forecast from International Data Corporation (www.idc.com). The second annual forecast focuses on growing IoT use in 11 vertical industries, including consumer, retail, healthcare, government, manufacturing, transportation, and other industries, while also sizing IoT opportunities for 25 vertical-specific use cases.
Unlike any other research in the industry, the new forecast specifically highlights worldwide spending across IoT use cases, including smart appliances, automated public transit, remote health monitoring, digital signage, connected vehicles, and air traffic monitoring, among others. Key findings include:
° The IoT market in manufacturing operations will grow from US$42.2 billion in 2013 to $98.8 billion in 2018, a five-year compound annual growth rate (CAGR) of 18.6%. Growth will be driven by ongoing efforts to increase efficiency and link
° Digital signage use in retail outlets will grow from $6 billion in 2013 to $27.5 billion in 2018, a 35.7% five-year CAGR, as retailers continue to digitize the consumer experience.
° The hottest US market is in connected vehicles, with 34.8% year-over-year growth anticipated in 2015.
“Working in concert with both IDC’s technology and regional analysts, we have built IoT market models for key vertical-specific use cases from the ground up,” says Bob Kraus, research analyst, Global Technology and Industry Research Organization, IDC. “This forecast is an invaluable tool for those business leaders evaluating the vendor opportunities in IoT for a 12-layer technology stack, which includes modules/sensors, software, installation/ongoing services, and connectivity.”