CEMA Internet of Things market to grow 22% in 2015: IDC
Research firm releases ‘first-of-its-kind’ IoT forecast
The Internet of Things (IoT) market in Central and Eastern Europe, the Middle East, and Africa (CEMA) could expand as much as 22%, year on year, in 2015, to reach $14bn in total value, according to International Data Corporation (IDC).
IDC based its ‘first-of-its-kind' IoT forecast on 25 of the fastest-growing IoT use cases in 11 vertical industries, including manufacturing, transportation, healthcare, government, utilities, retail, and consumer, while also assessing IoT business opportunities across a number of technologies.
The forecast concentrates on Central and Eastern Europe (CEE) and Middle East and Africa (MEA) spending across IoT use cases, including asset management, automated public transit, digital signage, smart grid, connected vehicles, and smart appliances.
IDC expects although Central and Eastern Europe to account for most of the total CEMA spend, based on this region's 60.2% share in 2013, but the research firm predicts this figure to fall to 56.9% in 2018.
In the Gulf region, where rapidly rising rates of chronic diseases have become of great concern, remote health monitoring solutions will attract significant attention. But IDC believes the strongest area for IOT technologies in CEMA is connected vehicles, with 55.3% year-on-year growth anticipated for this year.
"The transformation of enterprise, public-sector entities, and households is only just beginning, but there are already numerous opportunities for high-value deals," says Milan Kalal, programme manager of Internet of Things research with IDC CEMA.
But Kalal warned that adoption rates would differ across industry sectors.
"Industries that are already IoT-savvy are racing ahead, while others lag behind, often inhibited by regulatory barriers, the resistance of current market leaders, or simply immature technology solutions," he said. "However, IoT-related opportunities will arise in all industries."