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IoT spend to pass the USD 1 tln mark in 2022 - study

Friday 14 June 2019 | 11:23 CET | News
Global spending on the IoT is expected to pass the USD 1 trillion mark in 2020 and to then reach USD 1.1 trillion in 2023, according to the latest study from IDC, which added that the compound annual growth rate (CAGR) for 2019-2023 will be 12.6 percent. Spending this year is seen at USD 726 billion. IDC noted that while companies are investing in hardware, software and services to support their IoT initiatives, the next challenge will be to find systems to help them manage, process and analyse the data generated from the connected things.

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Categories: IT / Mobile & Wireless
Countries: World
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