IDC: Worldwide Internet of Things (enterprise) spending to reach $690.26 billion in 2021

On June 13, according to the latest forecast data of IDC, the global Internet of Things (enterprise) spending will reach US$690.26 billion in 2021 and is expected to reach US$1.1 trillion in 2026, with a five-year (2022-2026) compound growth rate (CAGR). ) 10.7%.

Among them, the size of China’s enterprise-level market will reach US$294 billion in 2026, with a compound growth rate (CAGR) of 13.2%. The global share is about 25.7%, and it continues to maintain the world’s largest IoT market volume.

IDC said that with the dynamic adjustment of epidemic prevention and control policies and the continuous development of the “14th Five-Year Plan” project, IDC maintained its forecast for a market growth of more than 10% from 2023 to 2025.

Based on IoT hardware spending will continue to occupy the largest proportion of China’s enterprise IoT market in the next five years, IDC predicts that the IoT hardware market will account for 42.8% in 2026. With the growth of IoT data analysis and platform applications, IDC The scale of spending on IoT infrastructure hardware (servers, storage, networking equipment, etc.) has been revised up slightly.

At the same time, due to the gradual transformation of IoT application software into customized (low-code) development, IDC slightly lowered the expenditure on general application software and increased the expenditure on development services accordingly. In addition, due to the impact of the policy of “speeding up and lowering fees”, IDC slightly lowered its network connection spending.

At the same time, manufacturing, government, retail and public utilities are still the industries with more significant demand for IoT.

IDC predicts that by 2026, the manufacturing industry represented by smart factories, the government industry represented by smart cities, the retail industry represented by online and offline omni-channel operations, and the public utility industry represented by smart grids, the above four industries Will account for more than 60% of Chinese enterprise IoT market spending.

In addition, smart buildings (service industry), smart logistics (transportation industry), and smart hospitals (medical industry) also have huge market growth potential.