IDC: The Internet of Things is poised to change everything
TweetFollow Us on Twitter

IDC: The Internet of Things is poised to change everything

The Internet of Things (IoT) represents a new construct in the information and communications technology (ICT) world that is occupying the minds of IT vendors, service providers, and systems integrators as it represents huge potential for new streams of revenue and new customers.

International Data Corp. (IDC) has looked at the components, processes, and supporting IT and connectivity for the Internet of Things and expects IoT technology and services spending to generate global revenues of US$4.8 trillion in 2012 and $8.9 trillion by 2020, growing at a compound annual rate (CAGR) of 7.9%.

"The momentum of the Internet of Things is driven by a number of factors. There is no doubt that business and consumer demand exists and will continue to expand for IoT solutions," says Vernon Turner, senior vice president of IDC's Enterprise Infrastructure, Consumer, Network, Telecom, and Sustainability Research. "I expect the current IoT use cases are just the tip of the iceberg."

Some enablers to the rise of IoT include: ongoing development of smart cities, cars, and houses; enhanced connectivity infrastructure; and an increasingly connected culture.

Even though there is growing demand for the IoT, there are still several factors inhibiting growth of this market, notes IDC (www.idc.com). This is not to say that they can't be overcome, but at present, they are hurdles that both vendors and enterprises will have to overcome to make IoT a reality. Some of these challenges are on the supply side, including lack of standards, global scalability, and a nascent ecosystem for application development. On the demand side, the challenges include lack of awareness and other IT/mobility priorities.


Despite these challenges, IDC expects the installed base of the Internet of Things will be approximately 212 billion "things" globally by the end of 2020. This will include 30.1 billion installed "connected (autonomous) things" in 2020. This is largely driven by intelligent systems that will be installed and collecting data -- across both consumer and enterprise applications – by the end of the forecast period.

"It is important to remember that while the market for the Internet of Things is still in its infancy, there is a long legacy of autonomous wired connected things," says Carrie MacGillivray, Program Vice President, Mobile Services, M2M & Network Infrastructure. "The enabler for increased growth over the forecast period is the pervasiveness of wireless connectivity and ubiquitous access to the Internet regardless of location."

 
AAPL
$116.47
Apple Inc.
+0.16
GOOG
$537.50
Google Inc.
+2.67
MSFT
$47.98
Microsoft Corpora
-0.72
MacNews Search:
Community Search:

Latest Forum Discussions

See All
view counter

view counter
view counter
view counter
view counter
view counter
view counter

Ubisoft Gives Everyone Two New Ways to E...
Ubisoft Gives Everyone Two New Ways to Earn In-Game Stuff for Far Cry 4 Posted by Jessica Fisher on November 21st, 2014 [ permalink ] | Read more »
Golfinity – Tips, Tricks, Strategies, an...
Dig this: Would you like to know what we thought of being an infinite golfer? Check out our Golfinity review! Golfinity offers unlimited ways to test your skills at golf. Here are a few ways to make sure your score doesn’t get too high and your spirits don’t get too low.   Considering Perspective is Crucial | Read more »
Dark Hearts, The Sequel to Haunting Meli...
Dark Hearts, The Sequel to Haunting Melissa, is Available Now Posted by Jessica Fisher on November 21st, 2014 [ permalink ] Universal App - Designed for iPhone and iPad | Read more »
Meowza! Toyze Brings Talking Tom to Life...
Meowza! | Read more »
Square Enix Announces New Tactical RPG f...
Square Enix Announces New Tactical RPG for Mobile, Heavenstrike Rivals. Posted by Jessica Fisher on November 21st, 2014 [ permalink ] With their epic stories and gorgeous graphics, | Read more »
Quest for Revenge (Games)
Quest for Revenge 1.0.0 Device: iOS Universal Category: Games Price: $4.99, Version: 1.0.0 (iTunes) Description: The great Kingdom of the west has fallen. The gods ignore the prayers of the desperate. A dark warlord has extinguished the last remaining princes of the land and there are no more heroes who can stand against the armies... | Read more »
Threadz is a New Writing Adventure for Y...
Threadz is a New Writing Adventure for You and Your Friends Posted by Jessica Fisher on November 21st, 2014 [ permalink ] In the tradition of round-robin storytelling, | Read more »
SteelSeries Stratus XL Hardware Review
Made by: SteelSeries Price: $59.99 Hardware/iOS Integration Rating: 4 out of 5 stars Usability Rating: 4.5 out of 5 stars Reuse Value Rating: 4.25 out of 5 stars Build Quality Rating: 4.5 out of 5 stars Overall Rating: 4.31 out of 5 stars | Read more »
ACDSee (Photography)
ACDSee 1.0.0 Device: iOS iPhone Category: Photography Price: $1.99, Version: 1.0.0 (iTunes) Description: Capture, perfect, and share your photos with ACDSee. The ACDSee iPhone app combines an innovative camera, a powerful photo editor, and a convenient collage maker with all the tools you need for a great mobile photography... | Read more »
ProTube for YouTube (Entertainment)
ProTube for YouTube 2.0.2 Device: iOS Universal Category: Entertainment Price: $1.99, Version: 2.0.2 (iTunes) Description: ProTube is the ultimate, fully featured YouTube app. With it's highly polished design, ProTube offers ad-free video with selectable playback quality, audio only playback, background playback and adjustable... | Read more »
All contents are Copyright 1984-2010 by Xplain Corporation. All rights reserved. Theme designed by Icreon.