The initial public offerings market will carry last year's momentum into 2015, according to industry experts.
"We expect 2015 to be a great year," Jackie Kelley, Ernst and Young's IPO leader, said in an interview with CNBC's "Squawk Box" on Friday. "We're obviously following on a fabulous year," she said. "Technology was strong, and health care was the dominant sector."
Companies like GoPro and Radius Health have grown over 150 percent and over 350 percent, respectively, since they went public last June.
Kelley added that while lower oil prices could have a negative impact on energy sector IPOs, they could also benefit other sectors of the market. "Lower energy prices are just building up consumer confidence," she said.
In a separate interview, David Menlow, president of IPOfinancial.com, said 2015 has to be a better year for IPOs because of the current positive sentiment surrounding the market. "All the people trying to get their companies from a private basis to a public basis have a wide-open platform," he said on "Squawk on The Street."
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Menlow said last year's IPO returns are attracting companies to invest in initial public offerings. IPO returns gained 19 percent last year, beating the broader markets by almost 8 percent.
The IPO market could also face some challenges this year.
"Even a little turbulence can have an impact on the markets," Kelley said. "We're at all-time highs right now on the equities markets right now. Valuations are really strong, but how do you sustain those?"
Menlow also said urgency within the IPO pipeline is down from last year, which could lead to smaller public offerings for companies. "We've had a lot of quiet filings similar to Shake Shack," he said, referring to the New York-based burger chain that on Monday filed to go public.
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Menlow added that companies looking for breakout IPOs in 2015 will need a greater sense of urgency. "People need to be first in their marketplace in order to get the biggest market share," he said.
"If you look at Chipotle and what happened with that, then look at Chuy's. People said, 'Oh it's another Mexican concept.' It spiked and then it teetered out," Menlow said.
Kelley said IPOs will be strong in 2015 despite the market's volatile state. "We're used to dealing with volatile markets," she said. "And we've been operating in it for years. We have gotten through things quite quickly."
—CNBC's Sara Eisen contributed to this report.