details
Global IoT Spending Skyrockets as the Technology Acclimates to Society | Financial Buzz
From IDC’s report, discrete manufacturing, process manufacturing, and transportation are the three main commercial industries that will be spending funds on IoT. These three industries aggregated make up around one third of global spending on IoT. The technology in these fields will be used mainly for manufacturing operations and freight monitoring.
The second largest spender is the consumer market, with increasing consumer IoT devices and luxuries such as smart home and devices. The consumer market is predicted to become the largest source of IoT spending by 2023 with the industry growing at a rate of 17% a year. As consumer products are made more available and accepted by the public, the growth rate will increase as well.
Commenting is limited to those invited by others in the community
Login to continue or learn more.
related products
No comments yet.