The public sector has always tended to lag behind the private sector with respect to technological adoption. As of late though, the U.S. government has taken some aggressive steps in incorporating cutting edge technologies in a number of different areas. This is especially true in many agencies where they are taking advantage of IoT-based technologies to improve effectiveness and achieve efficiencies. By some estimates, IoT opportunities in the public sector already total well over $30 billion. This number is expected to continue to increase as IoT globally is projected to grow at a 20 percent CAGR over the next three years. The following article mentions some federal and state agencies that have announced plans for IoT initiatives. For vendors, systems integrators and solution providers that offer IoT products and services, these government agencies provide an excellent opportunity for them to get involved.
At this point everyone in the tech industry has undoubtedly heard the staggering forecasts around the Internet of Things. Most leading market analysis firms estimate that by 2021 there will be over 20 billion connected devices globally making up an IoT market worth over $2.5 trillion.
What is not as freely discussed, however, is just what constitutes that IoT market, and what that opportunity looks like in the public sector.