- B2B spending on IoT technologies, apps and solutions will reach $267B by 2020.
- By 2020, 50% of IoT spending will be driven by discrete manufacturing, transportation and logistics, and utilities
- Spending on IoT applications is predicted to generate $64.1B by 2020.
- IoT Analytics spending is predicted to generate $21.4B by 2020.
Predictive maintenance, self-optimizing production, and automated inventory management will be the three top drivers for IoT market growth up through 2020.
I am pleased to see “predictive maintenance” mentioned in the “Top 3” drivers since my current company is focusing on this subject and I am personally responsible for the analytics side of it.