Looking out more broadly and over the longer term, IDC’s IoT revenue forecast calls for IoT revenues in manufacturing operations to grow at a compound annual rate of 18.6 percent from 2013-2018, rising from $42.2 billion to $98.8 billion. Growth will be driven by initiatives to increase efficiency and “link islands of automation,” IDC states in a press release.
Other highlights of IDC’s second IoT forecast include:
- Digital signage use in retail outlets will grow from $6.0 billion in 2013 to $27.5 billion in 2018, a 35.7% five-year CAGR, as retailers continue to digitize the consumer experience;
- The hottest US market is in connected vehicles, with 34.8% year-over-year growth anticipated in 2015.