IoT spending could top $800B this year with Manufacturing a key sector
Research firm IDC has released updated spending estimates for the Internet of Things. Overall, IDC expects IoT spending to grow 16.7 percent year-over-year in 2017, reaching just over $800 billion.
By 2021, global IoT spending is expected to total nearly $1.4 trillion, led by enterprise investments IoT hardware, software, services, and connectivity.
Breaking down use cases, IDC says manufacturing, freight monitoring and production asset management will attract the largest investments. Smart grid technologies for electricity, gas, and water, and smart building technologies are also expected to see significant investment gains this year.