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Global market spend on IoT to reach $ 1.29 trillion in 2020, says IDC-Aeris report

October 12, 2017

According to a joint report by the IDC and Aeris, the Internet of Things (IoT) is poised to transform the way businesses generate and consume data. Further, the worldwide IoT market spending is expected to grow from $ 625.2 billion in 2015 to $ 1.29 trillion in 2020 registering a compounded annual growth rate (CAGR) of 15.6 per cent.

A key factor driving its adoption is the increasing realisation of the value that IoT brings along a new and improved customer experience. Most businesses today are either at a starting point in their IoT journey or are at some stage considering an IoT deployment which, in turn, will lead to a significant uptrend in the adoption of IoT.

The report further noted that the installed base of IoT end-points will grow from 12.1 billion in 2015 to more than 30 billion by 2020.


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