The Internet of Things (IoT) is becoming increasingly popular and is set to grow rapidly over the next few years. According to figures from market research firm International Data Corporation ( IDC ), global spending on the Internet of Things will reach $1 trillion in 2020 and $1.1 trillion in 2021. Between 2017 and 2021, the increasingly booming IoT market will grow by 14.4%.
In 2017, the IoT sector will generate spending of $674 billion , which will increase by 14.6% to reach $772.5 billion in 2018 (thanks to the push from hardware, services, connectivity and, to a lesser extent, software).
If we look at the spending associated with the Internet of Things and generated by the average consumer (excluding companies), this will reach 62 billion dollars in 2018.
Among consumers, the Internet of Things will grow, driven by connected gadgets south africa phone number associated with smart homes. This segment will experience year-on-year growth of 21% over the next five years.
By region, spending in the IoT universe will be led by the Asia Pacific region (excluding Japan), which will generate investment of $312 billion in 2018. Spending in the Asia Pacific region will be followed by the United States and Canada ($203 billion) and the EMEA region ($171 billion).