CEMA Internet of Things Market to Grow 22% in 2015
August 4, 2015 | IDCEstimated reading time: 2 minutes
The Internet of Things (IoT) market in Central and Eastern Europe, the Middle East, and Africa (CEMA) is expected to expand 22% in 2015 year on year, reaching $14 billion in total value, according to a new forecast from International Data Corporation (IDC). The first-of-its-kind IoT forecast focuses on 25 of the fastest-growing IoT use cases in 11 vertical industries, including manufacturing, transportation, healthcare, government, utilities, retail, and consumer, while also sizing IoT opportunities across the technology stack.
Unlike any other research in the industry, the new forecast specifically highlights Central and Eastern Europe (CEE) and Middle East and Africa (MEA) spending across IoT use cases — asset management, automated public transit, digital signage, smart grid, connected vehicles, and smart appliances, among others. The comprehensive spending model was designed to help clearly understand the industry-specific opportunities for IoT technologies today.
Other key findings from the new IoT forecast:
IoT-related revenue will be generated across the entire CEMA region, although Central and Eastern Europe will account for the lion's share, with 60.2% of the total CEMA IoT market value in 2013, which will decline to 56.9% in 2018.
Freight monitoring will be the largest use case in CEE, accounting for $1.2 billion in 2018.
The CEMA IoT market in manufacturing operations will grow from $0.6 billion in 2013 to $1.4 billion in 2018, reflecting a five-year compound annual growth rate (CAGR) of 17.1%. Growth will be driven by ongoing efforts to increase efficiency and link islands of automation on the factory floor.
In the Gulf region, where rapidly rising rates of chronic diseases have become of great concern, remote health monitoring solutions will attract significant attention.
Overall, the hottest market in CEMA is in connected vehicles, with 55.3% year-over-year growth anticipated in 2015.
“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, program manager of Internet of Things research with IDC CEMA. That said, companies active in this market should be aware that the IoT adoption rates will be far from uniform 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. However, IoT-related opportunities will arise in all industries,” adds Kalal.
IDC's Central and Eastern Europe, the Middle East and Africa Internet of Things Market Forecast, 2015-2018 (#EIOT01X) analyzes the IoT market in CEMA and presents IDC's first forecast for the region along with revenue opportunities by country, technology segment, and industry. It is an invaluable tool designed to help segment the IoT market, target opportunities, and assign resources. IDC provides additional and more detailed descriptions of IoT-related drivers, initiatives, and IT spending in CEMA in its subscription service, Central and Eastern Europe, the Middle East, and Africa Internet of Things Ecosystem and Trends.
A forecast update is planned for November 2015 and will evaluate additional vertical-specific use cases, including smart payment technologies.
About IDC
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. To learn more about IDC, please visit www.idc.com.
Suggested Items
ZESTRON Academy Launches 2024 Advanced Packaging & Power Electronics Webinar Series
05/01/2024 | ZESTRONZESTRON, the leading global provider of high-precision cleaning products, services, and training solutions in the electronics manufacturing and semiconductor industries, proudly announces the launch of its highly anticipated webinar series on Advanced Packaging & Power Electronics, a webinar series on the latest innovations, cleaning, and corrosion challenges.
On the Line With… Talks With Cadence Expert on SI/PI for PCB Designers
05/02/2024 | I-Connect007In “PCB 3.0: A New Design Methodology—SI/PI for PCB Designers,” subject matter expert Brad Griffin, Cadence Design Systems, discusses how an intelligent system design methodology can move some signal and power integrity decision-making into the physical design space, offering real-time feedback.
The New Industry: Will the Growth Continue?
04/30/2024 | I-Connect007 Editorial TeamHow sustainable are the primary financial models in the United States regarding PCB fabrication shops? In this interview with economic experts Shawn DuBravac and Tom Kastner, we explore what’s happening with U.S. printed circuit board shops in today’s market, how consolidation affects the industry, and what can be done.
TTM’s High Tech Expansion and Industry Innovation
04/30/2024 | Marcy LaRont, PCB007 MagazineTom Edman has been the CEO of TTM Technologies since 2014 and has an extensive background in electronics and manufacturing. TTM is a leading global manufacturer of technology solutions, including mission systems, RF component and RF microwave microelectronics assemblies, and quick turn and advanced technology printed circuit boards.
U.S. Companies Invest Heavily in Robots
04/30/2024 | IFRManufacturing companies in the United States have invested heavily in more automation: total installations of industrial robots rose by 12% and reached 44,303 units in 2023. Number one adopter is the car industry followed by the electrical and electronics sector.