Recent research studies conducted by International Data Corp (IDC) revealed that there is continued interest and investment in the IoT marketplace. IDC forecasts that by 2021 over $1 trillion, or 85%, of IoT project investments will represent net-new spending on technology in the enterprise space. IDC also forecasts over the next three years at least $3.1 billion will be spent globally on IoT-based IT consulting services, while another $11.2 billion will be spent on systems integration services. With respect to business analytics and business intelligence, IDC estimates by the end of 2020 nearly 50 percent of all new IoT applications built by enterprise organizations will include some form of outcome-focused functionality enabled by analytics software.
A forecast from International Data Corp. (IDC) suggests based on a series of surveys says that while 75 percent of organizations that will generate a positive return on investment (ROI) on investments in Internet of Things (IoT) projects by 2021 thanks to tactical analytics applications, only 25 percent will have implemented a “decision architecture” that provides their organization with a strategic competitive advantage.