Future of IoT

IoT spending is in full bloom, and it’s going to bloom bigger. Research from IDC forecasts that IoT investment for the period 2017 through 2022 will hit $1.2 trillion. That’s an annual growth rate (CAGR) exceeding 13%. IDC’s Worldwide Semiannual Internet of Things Spending Guide forecasts a burgeoning IoT technology market. A good chunk of that total is expected to involve industrial applications. Discrete manufacturing and transportation will each exceed $150 billion in spending in 2022, making these the two largest industries for IoT spending.