Worldwide Internet of Things Forecast, 2020-2024

This IDC study provides key considerations for technology suppliers in this evolving and complex market as well as some of the 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 June 2020 Worldwide Internet of Things Spending Guide, where 82 use cases and 20 additional industry-specific "other" use cases were identified and sized across the technology stack, with up-front and recurring spend considered."COVID-19 has disrupted the entire economy including businesses' technology investment plans, and IoT projects are not immune," says Carrie MacGillivray, group vice president and general management, Worldwide IoT, Telecom, and Mobility Research at IDC. "However, according to IDC's COVID-19 Impact on IT Spending Survey series, enterprises are coming to terms with the current situation and looking for innovative ways to support their disrupted and distributed workforce, customers, and partners, and IoT will play an important role as organizations continue along the journey to recovery and the 'next' normal."

IDC Market Forecast Figure

Executive Summary

Advice for Technology Suppliers

Market Forecast

• Worldwide Internet of Things Spend Forecast by Region
• Worldwide Internet of Things Spend Forecast by Technology

Market Context

• Drivers and Inhibitors
  • Drivers
    • Expected Growth of IoT Installed Base
    • Speed to Market
  • Inhibitors
    • Impact of COVID-19
    • Security Concerns
    • Inability to Integrate IoT as Part of Existing Business Processes
• Significant Market Developments
• Changes from Prior Forecast

Market Definition

Methodology

Related Research