Forecasting the Internet of Things revenue opportunity
The Internet of Things as a new market opportunity is a natural evolution from M2M and connected things. It is however a different market opportunity. In IoT, three different characteristics are clear: i) IoT architectures will become closely aligned with IT solutions, ii) applications and data as compared to device and connectivity will become the points of gravity and opportunity in the solution, and iii) where a great deal of effort and focus has driven by the vertical markets, the IoT market opportunity will reflect a combination of vertical and horizontal attributes. This Research Note aims to share Machina Research perspectives on the challenges in forecasting the Internet of Things revenue opportunity and provide early forecasts of the scope of the IoT revenue opportunity. The outcome is a forecast Internet of Things revenue opportunity at USD4.3 trillion by 2024.
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