This article was 1st published on our sister Site, The Internet Of All Things.
IDC IoT forecast is out. It states global spending on the Internet of Things (IoT) may reach US $745 billion in 2019, an increase of 15.4 per cent over the $646 billion spent in 2018.
The update to the International Data Corporation (IDC) Worldwide Semiannual Internet of Things Spending Guide, said worldwide IoT spending will maintain a double-digit annual growth rate throughout the 2017-2022 forecast period and surpass the $1 trillion mark in 2022.
According to Carrie MacGillivray, Vice-president, Internet of Things and Mobility at IDC, the adoption of IoT was happening across industries, in governments, and in consumers’ daily lives. The next chapter of IoT was just beginning as we see a shift from digitally enabling the physical to automating and augmenting the human experience with a connected world.
IDC IoT forecast the industries that were probably slotted to spend the most on IoT solutions in 2019 were:
- discrete manufacturing ($119 billion)
- process manufacturing ($78 billion)
- transportation ($71 billion)
- utilities ($61 billion)
IoT spending among manufacturers will be largely focused on solutions that support manufacturing operations and production asset management.
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