Study: supply chain management projects to spark jump in IoT investment through 2023 – DC Velocity

Study: supply chain management projects to spark jump in IoT investment through 2023 – DC Velocity

Companies will spend $434.9 billion annually to design, plan, build, and run IoT solutions by 2023, up from $186.1 billion in 2017, according to the study from the Cambridge, Mass.-based consulting and advisory firm Forrester Research. Forrester broke that spending out into six sectors, including IoT-specific security software, platform software, service provider connectivity, application software, hardware, and professional services.

Working together, those sectors combine to build an IoT system that connects the physical world to the digital world by networking devices to monitor, collect, and analyze data while driving valuable insights, according to Forrester’s report, “Internet-Of-Things Spending Forecast, 2017 To 2023 (Global).”

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