This IDC study is a translation of the Japanese document (IDC #JPJ44558619) and analyzes the current Internet of Things (IoT) spending and forecasts spending growth in the IoT market from 2019 to 2023 for the four technology groups (connectivity, hardware, software, and services), which are further divided into a total of 11 technical elements. This study also provides recommendations to vendors engaged in the IoT business.
"Vendors should step up their consulting and advisory services to achieve a unified sense of purpose and data linkage between in-house organizations," says Yuta Torisu, communications senior market analyst, IDC Japan. He also adds, "It will be essential for vendors to think of key performance indicator and security for IoT together with businesses based on agile concept, that is, a concept in which requirements are discussed in stages after repeated trial and error."
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