Global IoT market to reach USD 1.7 tln in 2020 - IDC

Tuesday 2 June 2015 | 21:09 CET | News
The worldwide Internet of Things market is expected to grow to USD 1.7 trillion in 2020 from 655.8 billion in 2014, with a compound annual growth rate (CAGR) of 16.9 percent, according to a study by the IDC. Devices, connectivity, and IT services will make up the majority of the IoT market in 2020, accounting together for over two-thirds of the worldwide IoT market, with devices (modules/sensors) alone representing 31.8 percent of the total. By 2020, IDC expects that IoT purpose-built platforms, application software, and "as a service" offerings will capture a larger percentage of revenue.

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Categories: Mobile & Wireless / Mobile & Wireless
Countries: World
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