On Tuesday, the team at International Data Corporation (IDC) shared with MMW its outlook for 2015, a year IDC expects will be the year when Internet of Things (IoT) starts to deliver against the hype.
But the anticipated growth, IDC warns, will require vendors and customers alike to “change their approach.”
So what does that mean exactly?
“Companies are always looking for ways to drive business transformation, deliver competitive differentiation and enhance the customer experience, and many are now realizing that the Internet of Things can help them deliver against these goals,” says Charles Reed Anderson, AVP at IDC Asia/Pacific.
On the demand side, the sheer size of the enterprise, government and consumer segments in Asia/Pacific will see vendors increase their IoT go-to-market capabilities in region in an attempt capture their share of the market. In particular, IDC believes the government, mining, energy and manufacturing industries will see the most significant growth and competition.
Anderson says 2014 witnessed an explosion of new IoT-related solutions, including consumer wearables, smart home products and industrial IoT solutions. But 2015 is poised to see even bigger growth.
“More importantly, however, is that 2014 has seen the maturing of the wider IoT technology vendor ecosystem, which helped ensure we have the capabilities to deploy complex IoT solutions today and deliver tangible value to governments, enterprise and consumers alike,” Anderson notes.