According to a new report from IDC, the global Internet of Things (IoT) market is now projected to grow 19% in 2015, led by digital signage.
The 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.
“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,” says Bob Kraus, a Senior Research Analyst with IDC.
Among the standout findings of the report are:
- The IoT market in manufacturing operations will grow from $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 islands of automation.
- Digital signage use in retail outlets will grow from $6.0 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.