The worldwide IoT market spend will grow from $625.2 billion in 2015 to $1.29 trillion in 2020, with a compound annual growth rate (CAGR) of 15.6 percent. The installed base of IoT endpoints will grow from 12.1 billion at the end of 2015 to more than 30 billion by 2020
A key factor driving adoption of IoT is the increasing realization of the value that IoT brings along with improving customer experience. (Photo/Agency)
The IoT market continues to see strong growth and according to the IDC-Aeris report, the worldwide IoT market spend will grow from $625.2 billion in 2015 to $1.29 trillion in 2020, with a compound annual growth rate (CAGR) of 15.6 percent. The installed base of IoT endpoints will grow from 12.1 billion at the end of 2015 to more than 30 billion by 2020.
A key factor driving adoption of IoT is the increasing realization of the value that IoT brings along with improving customer experience. Most businesses today are either at a starting point in their IoT journey or are in some stage of considering an IoT deployment, said report.
“The disruptive impact of digital technologies and the transformation they bring is being felt across organizations and industries worldwide, leading to the emergence of the “Digital Economy.” Key amongst this is the Internet of Things (IoT). IoT is poised to transform the way businesses generate and consume data while providing insights previously unavailable due to various constraints,” said a statement.
Advertisement
EVENT
Infosec Reimagined
Infosec Reimagined 2026 is the premier information security summit where top leaders—CISOs, CROs, CIOs, CTOs and risk executives—converge to redefine cyber resilience.
Digital Senate is a premier conference uniting government leaders, technologists and innovators to share ideas, success stories and strategies on digital governance, public sector transformation, cybersecurity and emerging technologies in India.
CIO Prism unites forward-thinking technology leaders to exchange transformative insights, shape digital strategies, and foster innovation, empowering enterprises to excel in an era of rapid technological change.
The Ministry of Corporate Affairs is developing a shared digital infrastructure to help audit and consulting firms access advanced technology. A Sub-Committee has recommended a three-layer framework covering technology access, learning and knowledge resources.
