IoT Revenue May Reach $357 Billion By 2018

...

Whether your organization is considering the use of big data and analytics, or has taken its first

The internet of things is gaining traction in a number of industries, but IoT investments in three areas will be particularly large, according to IDC.

Internet of Things revenue is expected to soar 16.1% by 2019, as US companies look to leverage the technology that provides connected data sharing to remote task-oriented capabilities, according to an IDC report released Wednesday.

In the years leading up to 2019, IDC says it expects IoT revenue is expected to climb to $357 billion.

The use-cases that will capture the greatest revenue growth in the US from 2015 to 2019 are in-store contextualized marketing, connected vehicles, and insurance telematics, according to IDC. Other large IoT use-cases in terms of US revenue will be remote health management, smart grid electricity use, and smart homes.

"We see strong opportunities across many industries. For example, in highly instrumented verticals like manufacturing and transportation, large data sets are used to optimize operational processes and extend the life of high capital cost assets. In other sectors like healthcare and consumer, IoT technology is being used to produce benefits that improve quality of life," Marcus Torchia, research manager of IoT for IDC's Customer Insights and Analysis team, said in a statement.

Samsung Electronics, for example, unveiled plans to invest $1.2 billion in IoT research and development over the next four years in the US, with a focus on melding the physical and digital worlds into one to improve the quality of life for consumers.

Companies like Samsung are expected to invest more than $232 billion in IoT hardware, software, services, and connectivity this year, according to IDC.

The top three industries expected to pony up the largest swath of IoT investments this year include manufacturing, with $35.5 billion; transportation, with $24.9 billion; and the cross-industry segment, with $31 billion. The cross-industry segment represents IoT uses that are common to more than one industry.

Here are IoT use-cases across the three industry segments that are capturing the most investments from US companies, according to IDC:

"The long term opportunity for IoT vendors is helping to identify and create immediate and residual benefits for end-users through their technologies," Torchia said.

Categories
APPLICATIONS
0 Comment

Leave a Reply

Captcha image


RELATED BY

  • 5300c769af79e

    Video: Short Clip Shows Working Galaxy Note 7 In-Hand

    August 2, the date set by Samsung for the unveiling of the Galaxy Note 7, is right around the corner.The latest is a very short clip posted to YouTube, showing someone fondling the device and pressing down on its buttons, apparently testing to make sure everything is functional.
  • 5300c769af79e

    LG V20 Specs (Official)

    The LG V20 is, of course, official and you hopefully ran through our first look video of it, but we know that more than a handful of you are probably curious about official specs.Since this is the newest V-line member from LG, you know they packed in a bunch of extra goodies that most smartphones aren’t going to have.
  • 5300c769af79e

    Bill Bolsters Legal Efforts of Wells Fargo Fraud Victims

    United States lawmakers last week introduced legislation to stop Wells Fargo from enforcing arbitration agreements with victims of fraud it perpetrated against them., a member of the House Financial Services Committee, introduced the Justice for Victims of Fraud Act of 2016 in their respective chambers.
  • 5300c769af79e

    Senate Falls Short on Expansion of FBI Surveillance Authority

    The amendment would have granted the FBI the power to obtain suspected terrorists' electronic records, including browser histories and email information, without a court order.The FBI is allowed under existing law to obtain phone and financial records of suspected terrorists without a warrant, but not electronic records.