Educational Technology

June 30, 2015

Internet of Things Heading Toward $1.7 Trillion by 2020, Set to Rock ‘IT Status Quo’

Filed under: Educational Technology — admin @ 12:35 am

By Dian Schaffhauser, THE Journal

As the Internet of Things (IoT) infuses life and work, the dimensions of the market are coming into clearer focus for those who study its momentum. According to IT research firm International Data Corporation (IDC), IoT is expected to grow from $656 billion in 2014 to $1.7 trillion in 2020, representing a compound annual growth rate of nearly 17 percent. That’s considerably smaller than IDC forecasted in 2013, when IoT was anticipated to generate global revenues of $8.9 trillion by 2020. More than two-thirds of the current 2020 market value will be made up of devices, connectivity and IT services. Modules and sensors (the devices) will single-handedly represent almost 32 percent of the total.

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