European IoT Market Forecast 2024-2028

Description

This Market Forecast study presents IDC's expectations for the IoT market in Europe (Western Europe [WE] and Central and Eastern Europe [CEE]). It leverages IDC's Worldwide Semiannual Internet of Things Spending Guide, published in May 2024. The forecast, which is broken down by technology, industry, and geography, presents each segment's key drivers and market dynamics. The study updates IDC's European IoT Forecast, 2022-2027 (IDC #EUR150314623, October 2023)."Organizations see IoT as a key part of their strategic digitalization efforts. Deploying IoT solutions remains challenging for organizations, particularly those with ambitious plans to incorporate AI and automation into their solutions. However, the industry is making progress and will gradually expand the capabilities of IoT solutions over the next several years." - Research Director John Gole, IDC European IoT Practice

Product Code: EUR151650924

IDC Market Forecast Figure

Executive Summary

Advice for Technology Suppliers

Understand and Adapt to Changing Market Needs
Assist Customers With Security by Design
Offer Scalable and Flexible Solutions
Invest in Local Support and Services
Address Investment Concerns With Clear ROI
Leverage Partnerships and Ecosystems

Market Forecast

Geography View
Regional View
Technology View
- Connectivity
- Hardware
- Services
- Software
Industry View
- Distribution and Services
- Manufacturing and Resources
- Public Sector
- Infrastructure
- Finance

Market Context

Drivers and Inhibitors
- Drivers
  - Surge in Interest in Generative AI
  - Industrial IoT (IIoT)
  - Sustainability Enabler
- Inhibitors
  - Deployment Complexity
  - High Implementation Costs
Significant Market Developments
Changes from Prior Forecast
- Currency Exchange Rates