While most everyone agrees that the Internet of Things (IoT) is poised for explosive growth and represents boundless opportunities – billions of connected things driving trillions in revenue – understanding where the revenue opportunities lie across different technology layers has remained elusive, according to IDC.
The worldwide IoT market is forecast to grow from $1.3 trillion in 2013 to $3.04 trillion in 2020 with a compound annual growth rate (CAGR) of 13 percent.
IDC defines the Internet of Things as a network of networks of uniquely identifiable endpoints (or "things") that communicate without human interaction using IP connectivity – be it "locally" or globally. IDC's view of the IoT ecosystem includes intelligent systems, network equipment, connectivity services, data integration, and often other types of software, applications, services and security....
Via Jeff Domansky
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"There will be no one leader in this market," said Carrie MacGillivray, Vice President, IoT and Mobile Service & Infrastructure. "The market will rely on partnerships, federation, and innovative services to create truly valuable IoT solutions."