Home / News

Internet of Things Market Expected to Reach $3.04 Trillion, 30B Connected Things in 2020

A newly released Internet of Things ecosystem forecast from International Data Corporation (IDC) attempts to clarify the hardware, software, services, connectivity, and security that make up the evolving Internet of Things (IoT) ecosystem. 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%. 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.

Additional findings from IDC’s new forecast include the following:

  • In the IoT market, a collection of vendors, service providers and systems integrators must co-exist and integrate products and solutions to realize success.
  • The installed and connected base of IoT units will reach approximately 30 billion in 2020.
  • Startup vendors are working feverishly to carve out their strategies to attack this market and will drive the innovation pace of larger vendors.

By CircleID Reporter

CircleID’s internal staff reporting on news tips and developing stories. Do you have information the professional Internet community should be aware of? Contact us.

Visit Page

Filed Under

Comments

Comment Title:

  Notify me of follow-up comments

We encourage you to post comments and engage in discussions that advance this post through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can report it using the link at the end of each comment. Views expressed in the comments do not represent those of CircleID. For more information on our comment policy, see Codes of Conduct.

CircleID Newsletter The Weekly Wrap

More and more professionals are choosing to publish critical posts on CircleID from all corners of the Internet industry. If you find it hard to keep up daily, consider subscribing to our weekly digest. We will provide you a convenient summary report once a week sent directly to your inbox. It's a quick and easy read.

I make a point of reading CircleID. There is no getting around the utility of knowing what thoughtful people are thinking and saying about our industry.

VINTON CERF
Co-designer of the TCP/IP Protocols & the Architecture of the Internet

Related

Topics

Threat Intelligence

Sponsored byWhoisXML API

New TLDs

Sponsored byRadix

DNS

Sponsored byDNIB.com

IPv4 Markets

Sponsored byIPv4.Global

Brand Protection

Sponsored byCSC

Cybersecurity

Sponsored byVerisign

Domain Names

Sponsored byVerisign