South Korea among G20’s top IoT-ready markets
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The United States, South Korea, and the United Kingdom ranked as the three countries in the G20 most ready to contribute to and benefit from the IoT, according to IDC.
The research firm said the US scored particularly well on measures such as ease of doing business, government effectiveness, innovation, and cloud infrastructure, as well as technology spending as a percent of GDP.
Meanwhile, South Korea scored extremely well on IoT-specific spending and has a business environment that fosters innovation and promotes attractive investment opportunities.
Similarly, the UK scored very highly on measures of ease of doing business, government effectiveness, regulatory quality, start-up procedures, innovation, and broadband penetration.
The standout country in the ranking, however, proved to be Australia, which, despite its relatively small GDP, scored exceptionally high on ease of doing business and start-up procedures, government effectiveness and regulatory quality, and innovation and education.
The original index was first published in 2013 but the updated index is now comprised of 13 criteria that IDC views as necessary for sustained development of the IoT and reflects each nation’s economic stature, technological preparedness, and business readiness to benefit from the efficiencies linked to IoT solutions.
“Countries are keen to become or maintain a competitive advantage and, as such, are looking to the Internet of Things as one of those initiatives,” said Vernon Turner, senior vice president, Enterprise Systems and IDC fellow for the IoT.
“Knowing where a country stands in the IoT Index will help global and local IT vendors know what opportunities lie ahead of them as they line up their strategies at federal, local, and enterprise levels.”
Questions & Answers
Q.Which G20 countries are identified as the most prepared for the Internet of Things?
Which G20 countries are identified as the most prepared for the Internet of Things?
The United States, South Korea, and the United Kingdom ranked as the top three G20 countries most ready to contribute to and benefit from the IoT. Australia also scored exceptionally high, despite its smaller GDP.
Q.What specific strengths does South Korea demonstrate regarding IoT readiness?
What specific strengths does South Korea demonstrate regarding IoT readiness?
South Korea scored extremely well on IoT-specific spending. Its business environment fosters innovation and promotes attractive investment opportunities, contributing significantly to its high ranking in the G20.
Q.Which criteria does IDC use to assess a nation's readiness for the Internet of Things?
Which criteria does IDC use to assess a nation's readiness for the Internet of Things?
The updated index comprises 13 criteria, reflecting each nation’s economic stature, technological preparedness, and business readiness. These are viewed as necessary for the sustained development of IoT and to benefit from its efficiencies.
Q.Why is it important for vendors to understand a country's position in the IoT Index?
Why is it important for vendors to understand a country's position in the IoT Index?
Knowing a country's standing helps global and local IT vendors identify future opportunities. This insight allows them to align their strategies effectively at federal, local, and enterprise levels.