European IoT spending continues double-digit growth, despite global uncertainty and slow demand, says IDC

European IoT spending continues double-digit growth, despite global uncertainty and slow demand, says IDC

LONDON, June 6, 2022 — The International Data Corporation (IDC) Semi-annual Global Internet of Things Spending Guide estimates that enterprise IoT spending will reach $208 billion in 2022 in Europe and continue to experience double-digit growth through 2026. Despite facing many uncertainties due to the pandemic, inflation, low demand, supply chain disruption, and geopolitical conflicts, IDC expects the European IoT market to continue to develop and expand, albeit at a slower pace than before the war. between Russia and Ukraine. This growth will continue in 2022 in various sectors, such as manufacturing, retail, infrastructure and healthcare, where the need to maintain operations and improve performance is imperative.

By 2022, the largest share of spending is expected to be in the manufacturing and resource sector, driven by use cases related to predictive maintenance and production asset management solutions where IoT solutions are used to improve tracking , remote monitoring and maintenance of manufacturing organizations. industrial devices in the production value chain.

The fastest adoption will be in electric vehicle charging in Europe, driven by the expansion of commercial electric vehicle charging stations across the continent, with IoT enabling real-time availability and booking scheduling, charging notifications , automated billing, and value-added services, as well as offering marketing opportunities.

Driven by growing demand for video surveillance and security from European organizations, IDC expects IoT solutions for video analytics that use AI and other advanced algorithms to recognize, detect, and analyze live or stored video streams in a range of uses that They include business analysis and security surveillance. , to gain traction in the coming years in many industries. IDC’s Internet of Things Spend Guide now includes cross-sectional video analytics use case sizing as a complement to the main forecast analytics in the Spend Guide.

Despite the pandemic, IoT has evolved in the last two years, especially in Central and Eastern Europe (CEE), where organizations needed to catch up with the more advanced countries in Western Europe in terms of maturity and adoption. However, due to the Russo-Ukrainian War, the adoption of IoT solutions in Russia will be strongly affected, while other CEE countries will be affected by the uncertainty of organizations and the reorganization of priorities.

“During the pandemic, many organizations refocused their technology investment plans, targeting a technology stack to support innovation, efficiency, and performance, even in challenging situations, such as the Russo-Ukraine War, with IoT and automation at the forefront. With organizations looking to improve productivity, reduce costs, better orchestrate resources and assets, and improve the customer experience, IoT will remain on the agenda of many technology leaders for years to come,” said Alexandra Rotaru, Research Analyst, Data and analysis, Europe.

IDC’s Semi-Annual Worldwide Internet of Things Spending Guide provides guidance on technology opportunities in nine regions. Segmented by 53 countries (47 + 5 Rest of Regions), 19 business industries, 70 named use cases and 19 technologies, it provides IT vendors with information on how the market will evolve in the coming years.

For more information on IDC Europe Semi-Annual Global Internet of Things Spending Guide, contact Alexandra Rotaru at arotaru@idc.com or Gabriele Roberti at groberti@idc.com.

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