IDC research: the Internet market is growing, companies are spending more on IoT technologies
The consulting company IDC has published a report on results of its research Worldwide Semiannual Internet of Things Spending Guide. The document gives a detail analysis of the company’s expenses on the implementation of IoT technologies. This year the level of corresponding spending increased by 16.7% exceeding 800 billion dollars. IDC experts believe that by the end of 2021 business expenses on the Internet of Things will amount to 1.4 trillion dollars.
Companies will invest in modernization of manufacturing spheres (105 bln dollars), cargo transportations (50 billion dollars) and management of business assets (45 bln dollars).
Companies will also pay special attention to developments allowing them to manage their resources (electricity, gas, light) as well as intelligent building more efficiently. Spending on the development of these sectors will amount to 56 bln and 40 bln dollars respectively.
Much less investments will be made in airport automation and smart car development. At the same time, the market of smart home technologies will grow significantly but its size will be a lot smaller than that of the segment of the industrial IoT.