IDC Presents U.S. Internet of Things Spending Guide for Eight Vertical Markets
Framingham, MA – May 12, 2014 – A new International Data Corporation (IDC) report shows that the rise of Internet of Things (IoT) solutions will translate into billions of dollars of IT opportunity for vertical-solution focused vendors. The inaugural, "United States Internet of Things Spending Guide by Vertical Market," illustrates growing IoT markets for 8 vertical industries including retail, healthcare, government, manufacturing and other industries, while also sizing IT opportunity for 29 vertical-specific use cases.
Unlike any other research in the industry, the new table specifically highlights U.S. spending across IoT use cases including personal wellness, smart buildings, remote patient monitoring, food traceability, in store consumer digital offers, air traffic monitoring and smart meters, among others. The comprehensive research was designed to help vendors clearly understand the industry-specific opportunity for IoT technologies today.
Key Findings of the report:
- Healthcare IT markets will be greatly impacted by IoT. For example, the IoT IT market for remote health monitoring will grow from $8.2 billion in 2014 to over $12.4 billion in 2018. (This represents a 5-year CAGR of 10.4%)
- Retail IT spending will also see large growth associated with IoT spending. The IoT IT market associated with in-store consumer digital offers will grow from $181 million in 2014 to $223 million in 2018. (This represents a 5-year CAGR of 7.4%)
According to Scott Tiazkun, Senior Research Analyst, Global Technology and Industry Research Organization, IDC, "a bottom up research approach is crucial to understand the specific applications of IoT for each vertical market, and educate vendors on the overall IT opportunity available to them today. The use cases validate where the rubber meets the road when it comes to IoT and this report will serve as a useful tool in evaluating this burgeoning market."
A second spending guide is planned for September, 2014 and will evaluate further vertical specific use cases.
For additional information about this research or to arrange a one-on-one briefing with Scott Tiazkun, please contact Sarah Murray at 781-378-2674 or firstname.lastname@example.org. Reports are available to qualified members of the media. For information on purchasing reports, contact email@example.com; reporters should email firstname.lastname@example.org.
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