The Internet of Things (IoT) market in Central and Eastern Europe, the Middle East, and Africa (CEMA) region is taking off, according to IDC. Although still nascent, it is growing rapidly and offers considerable potential for the rest of the decade, the firm said.
“In 2015, the Internet of Things market in CEMA will soar, bringing critical technology innovation, enabling business process innovation, and driving the digital transformation further than has been possible so far. IDC expects the CEMA IoT market to exceed $50 billion by 2018, at about the same time the installed base will reach approximately two billion autonomous devices or ‘things’ connected to networks across CEMA. That said, the IoT adoption rate will be far from uniform across industry sectors,” IDC stated.
According to the firm, in 2015, the IoT market will record double-digit growth and provide high revenue opportunity for all vendors in this ecosystem due to the unparalleled opportunity to connect ‘things’ in a consumer and enterprise context.
“While the Internet of Things market in CEMA is still in its early stages, growth momentum has already picked up,” notes Milan Kalal, senior research analyst with IDC CEMA.
“However, the development of this market will not be consistent across all industry sectors. Those that have already implemented IoT or have plans to do so (e.g., manufacturing, transportation, and healthcare entities) will record the most immediate growth,” Kalal added.
