Worldwide spending on IoT to hit $1.4 trn by 2021
AN update to the International Data Corporation, IDC, Worldwide semi annual Internet of Things Spending Guide, forecasts worldwide spending on the Internet of Things (IoT) to grow by 16.7 percent year over year in 2017, reaching just over $800 billion.
The forecast shows that by 2021, global IoT spending is expected to total nearly $1.4 trillion as organizations continue to invest in the hardware, software, services, and connectivity that enable the IoT.
Vice President, Internet of Things and Mobility at IDC, Carrie MacGillivray, said the discussion about IoT has shifted away from the number of devices connected. “The true value of IoT is being realized when software and services come together to enable the capture, interpretation and action on data produced by IoT endpoints. With our Worldwide IoT Spending Guide, IDC provides insight into key use cases where investment is being made to achieve the business value and transformation promised by IoT,” he added. Read more…