In 2016, the global market of the Internet of Things, IoT, grew by 17.9% and reached USD 737 bln in 2016, as it is said in the report of International Data Corporation (IDC), Finance.UA reports.
The company expects that the annual average growth of expenses for IoT in 2015-2020 will be 15.6%, up to USD 1.29 trln in 2020.
According to IDC estimate, in 2016, the expenses for the Internet of Things in the industrial sphere amounted to USD 178 bln, in transport sphere – USD 78 bln, in utility sphere – USD 69 bln. Until 2020, the maximum growth is expected in such spheres as insurance, consumer services, healthcare and retail.
The fastest increase in expenses for the Internet of Things is expected in the Asia-Pacific region. Then go the USA, Western Europe and Japan.
“IoT is a diverse and fast developing market with opportunities for suppliers as well as final users”, IDC analyst Marcus Torchia.
