IDC, after releasing its latest report predicting “Internet of Things” (IoT) market to generate up to USD 8.9 Tn by the year 2020, has now come up with the IoT index called “G-20 Index”, ranking G-20 countries on the basis of their opportunity to gain from the Internet of Things.
The rankings were made based on the countries’ readiness to adopt Internet of things and provided a weighted, single and ordered point of guidance for vendors looking to globalize IoT.
As per the report, India has been ranked at the 16th position, with the top 2 positions taken by the United States and South Korea respectively.
As IDC analyzed in its previous report, growing at a CAGR of 7.9%, the IoT market generated USD 4.8 Tn in 2012. The drivers leading to this include the development of smart cities, cars, and houses; better connectivity infrastructure and an increasingly connected culture.
As the opportunity for the Internet of Things (IoT) continues to attract new vendors to the market, vendors are now in a better position to capitalize on the IoT opportunity as they hedge their bets on globalizing. “The market potential from the increasing adoption of Internet of Things (IoT) solutions is not a regional phenomenon”, said, Vernon Turner, Senior Vice President, Infrastructure & Sustainability Research, IDC.
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