IoT global spending to hit $1.29T in 2020; remote health monitoring to drive healthcare sector — 5 key points

Practice Management

Global Internet of Things spending is expected to come in at $737 billion in 2016, according to the International Data Corporation's "Worldwide Semiannual Internet of Things Spending Guide."

Here are five key points:

 

1. Worldwide IoT spending will continue to grow at a compound annual growth rate of 15.6 percent, hitting $1.29 trillion in 2020.

 

2. Manufacturing ($178 billion), transportation ($78 billion) and utilities ($69 billion) led the pack in investments in 2016.

 

3. Insurance, consumer, healthcare and retail will experience the fasting spending growth through 2020.

 

4. Remote health monitoring will attract the most investment in the healthcare industry.

 

5. The Asia-Pacific region will witness the greatest IoT spending between 2015 and 2020. The United States, western Europe and Japan will follow.

 

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