FRAMINGHAM – International Data Corporation (IDC) today, June 18, announced publication of the latest Worldwide Semiannual Internet of Things Spending Guide.
The Spending Guide forecasts Internet of Things spending will experience a compound annual growth rate of 13.6 percent over the 2017-2022 forecast period and reach $1.2 trillion in 2022.
The forecast is based on the latest research in the burgeoning Internet of Things technology market, which offers business investment opportunities across a spectrum of industries and illuminated through use case implementations.
As the diverse Internet of Things (IoT) market reaches broad-based critical mass, innovative offerings in analytics software, cloud technologies, and business and IT services have expanded rapidly.
“The IoT market is at a turning point – projects are moving from proof of concept into commercial deployments,” said Carrie MacGillivray, group vice president, Internet of Things and Mobility, in a press release. “Organizations are looking to extend their investment as they scale their projects, driving spending for the hardware, software, services, and connectivity required to enable IoT solutions.”
The intersection of multiple technology domains is one key to successfully understanding and developing a supply-side product and market development strategy.
International Data Corporation (IDC) is a global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. Founded in 1964, IDC is a wholly-owned subsidiary of IDG, a media, data and marketing services company headquartered in Framingham.