IoT spending hit estimated $737 billion in 2016

Hardware is predicted to take up a big portion of IoT spending in the next few years.

January 18, 2017

Share: Facebook Twitter Google Linkedin | Print E-mail

Hardware is predicted to take up a big portion of IoT spending in the next few years.

Image Source: IDC via EETimes

San Francisco—Global spending on the Internet of Things (IoT) hit an estimated $737 billion in 2016, as organizations ramped up spending on IoT infrastructure and deployment on a trajectory that will bring such investment to nearly $1.3 trillion by 2020, according to market research firm International Data Corp. (IDC).

IDC (Framingham, Mass.) said organizations worldwide in 2016 ratcheted up spending on the hardware, software, services and connectivity that enable IoT. The firm is forecasting that IoT spending will grow at a compound annual growth rate (CAGR) of 16 percent between 2015 and 2020, reaching $1.29 trillion in 2020.

This article was originally published on EE Times. To read the rest of the article, please click here.

Share: Facebook Twitter Google Linkedin | Print E-mail

Additional Information

Send me the latest Product Alerts for Smart home gateways

Sign up for Product Alert e-mail updates - FREE

  • Smart home gateways
  • Smart home CCTV cameras
  • Home automation systems
  • Wi-Fi LED panel lights
  • Smart home surveillance systems
  • Wi-Fi LED bulbs

Subscribe (No SPAM - We will not sell or share your e-mail address.)

Learn more | See sample

Download Electronics e-Magazine

Login or register for immediate download

  • Discover new Smart home gateways and other Electronics...
  • Detailed information of verified Smart home gateways suppliers
  • You may also be interested:
  • Discover even more related products and suppliers in Smart Living e-magazine.

Note: Magazines are available in English only.

Featured Hot Products

Submit your Buying Request with TradeMatch

Fast and easy to use

Receive tailored offers

Compare quotations

Learn more

Click here to receive FREE e-mail updates