IoT spending to pass US$1 trillion by 2021: IDC
IOT spending is tipped to reach nearly US$1.4 trillion by 2021, with Asia/Pacific tipped to lead the spending. This is according to new research from IDC, who said the key metric is now dollars spent rather than devices connected.
Previous forecasts have focussed on how many devices would be connected, but the discussion is now about spending, said IDC.
The IDC Worldwide Semiannual Internet of Things Spending Guide forecasts worldwide spending on the Internet of Things (IoT) to grow 16.7 per cent year-over -year in 2017, reaching just over $800 billion. By 2021, global IoT spending is expected to total nearly $1.4 trillion as organisations continue to invest in the hardware, software, services, and connectivity that enable the IoT. Read more…