APAC to lead global IoT spending
According to new research by technology research and advisory firm Ecosystm, global IoT spending is expected to grow at a compound annual growth rate (CAGR) of 7% from 2018 to 2023, reaching a value of US$394.4bn.
Much of this growth will be led by China, which will take up the mantle of being the global centre for IoT solutions, accounting for 23% of the market ($92bn) alone.