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Global IoT spending to show CAGR of 15.6% to 2020

Thursday 5 January 2017 | 11:22 CET | News
Worldwide spending on the Internet of Things (IoT) is forecast to reach USD 737 billion in 2016 and grow at a CAGR of 15.6 percent over the period 2015-2020 to a total USD 1.29 trillion, according to the latest forecast from IDC. The industries forecast to make the largest IoT investments in 2016 are manufacturing (USD 178 billion), transportation (USD 78 billion) and Utilities (USD 69 billion). Consumer IoT purchases, the fourth largest market segment in 2016, will become the third largest segment by 2020, the market researcher expects.

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Categories: Internet
Countries: World
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