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Report: Internet of Things to Tip $1 Trillion by 2020
THE Journal: Global spending on the Internet of Things (IoT) will grow 14.6 percent in 2018, according to a new forecast from International Data Corp. (IDC), to hit $772.5 billion. The category will more or less maintain that upward trajectory throughout the prediction period, averaging a 14.4 percent compound annual growth rate (CAGR) through 2021 and tipping the trillion-dollar mark in 2020.
Hardware will lead the way among technology categories in IoT spending in 2018, accounting for $239 billion "going largely toward modules and sensors along with some spending on infrastructure and security," according to a news release. Services will follow hardware for the year and spending on software and connectivity will come in third.
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