Update on IDC's New Industry Taxonomy and Transition Plan

This IDC Market Perspective provides a detailed description of IDC's new worldwide industry taxonomy. It should be viewed as a guide to help navigate the transition from the old taxonomy to the new framework. Technology suppliers may utilize this approach and structure as inspiration as they evaluate their own industry strategy and organization."The development of a new industry taxonomy was not taken lightly or completed in isolation," said Serena Da Rold, director, IDC's Data and Analytics. "IDC spent a year researching existing industry taxonomies. In this time, we conducted a study of economic standards, client inquiries, tech vendor industry taxonomies, and competitive taxonomies."Group Vice President Eileen Smith added, "The conclusion was that a restructuring of the industry segmentation within IDC's taxonomy was necessary to keep clients informed to the degree expected in the modern world. With more thoughtful categorization and granular segmentation, IDC data users are better equipped to identify, analyze, validate, and action questions and insights specific to the industries they serve."