Techno-News Blog

December 25, 2017

IDC Predicts Jump in Internet of Things Spending in 2018

Filed under: Uncategorized — admin @ 12:25 am

By Rhea Kelly, Campus Technology

Worldwide spending on the Internet of Things (IoT) will increase 14.6 percent in 2018, reaching $772.5 billion, according to the latest report from International Data Corp. The market research company’s Worldwide Semiannual Internet of Things Spending Guide forecasts sustained growth for the category, at a compound annual growth rate (CAGR) of 14.4 percent all the way through 2021 — ultimately reaching $1.1 trillion. IoT hardware, such as modules, sensors, infrastructure and security, is expected to account for the largest portion of spending, hitting $239 billion in 2018. Services will come in second, followed by software and connectivity, the IDC report said. Software and services will be the fastest growing segments, at five-year CAGRs of 16.1 percent and 15.1 percent, respectively.

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