IoT Spending Grows in 2017 … And Beyond

IDC forecast that Internet of Things spending will grow 17 percent in 2017. The market research firm said that IoT spending will reach just over $800 billion this year as more organizations invest in hardware, software, services and connectivity around IoT.

In 2017, the largest IoT investments will include manufacturing operations, freight monitoring, and production asset management. The report also concludes that the IoT market won't slow down anytime soon, forecasting that organizations continuing to invest in hardware, software, services and connectivity will rack up nearly $1.4 trillion in spending by 2021.