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IoT spend set to top $800 billion in 2017

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Global spend on the internet of things is set to top $800 billion in 2017, and surpass $1.4 trillion over the next five years, according to forecasts from IDC.

International Data Corporation, or IDC, predicts IoT spend to grow 16.7% this year as more businesses expand their connected portfolios.

In its Worldwide Semiannual Internet of Things Spending Guide, IDC said use cases expect to attract the largest investments in IoT this year include manufacturing operations ($105 billion), freight monitoring ($50 billion), and production asset management ($45 billion).

“The discussion about IoT has shifted away from the number of devices connected,” said Carrie MacGillivray, vice president, IoT and mobility at IDC.

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