IoT spending to reach $1.3 trillion by 2020 on hardware investment

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first_imgFollow the Puck Related Posts Tags:#featured#hardware#IDC#IIoT#IoT#manufacturing#Services#top Donal Power Why IoT Apps are Eating Device Interfacescenter_img New research sees Internet of Things (IoT) spending growing by nearly 16% by 2020 driven by hardware investments, primarily by manufacturers.The Journal reported on the release of the “Worldwide Semiannual Internet of Things Spending Guide” by International Data Corp.(IDC).The IDC report found that IoT spending will reach $1.29 trillion worldwide by 2020, representing a 15.6% compound annual growth rate between 2015 and 2020.See also: China IoT market worth over $120 billion by 2020As improvements in sensor technology continue, IDC sees much of IoT spending going towards hardware, which comprises the largest spending category throughout the forecast.IDC predicts hardware spending will reach nearly $400 billion by 2020. The bulk of hardware purchases will be comprised of modules and sensors that connect endpoints to networks.And while hardware spending will dominate spending over the next five years, it will be slower growing compared to other categories like services and software.“A fairly close relationship exists between high-growth IoT use cases in consumer product and service oriented verticals like retail, insurance, and healthcare,” said IDC’s Marcus Torchia. “As a whole, the IoT opportunity is a diverse developing marketplace for vendors and end users alike.”Researchers found that the manufacturing industry is expected to make the biggest IoT investment over the next five years. Meanwhile, retail, healthcare, insurance and consumer industries will chart the fastest IoT spending growth.“Cross-Industry IoT investments, which represent use cases common to all industries, such as connected vehicles and smart buildings, will rank among the top segments throughout the five-year forecast,” the report predicts.IoT investment will come from a lot of directionsTorchia says that that opportunities driving IoT investment will continue to be derived from diverse areas.“In some cases, these are greenfield opportunities with tremendous room to run,” he said. “In other verticals, like manufacturing and transportation, large market size and more moderate growth rate use cases characterize these verticals.”The IDC report follows earlier research that found that the number of IoT devices will increase by 200% to 46 billion units by 2021.Juniper Research concluded that the accelerating number of connected actuators, sensors and devices is being driven by the reduction in unit costs of the hardware. What it Takes to Build a Highly Secure FinTech … Internet of Things Makes it Easier to Steal You…last_img

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Maritime Partner Announces Contract with Ghana Ports, Harbours Authority

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Professor Stephen Hawking to give lecture on black holes

first_imgProfessor Stephen Hawking, the celebrated physicist and cosmologist, is to give a free public lecture on black holes at the Oxford University Mathematics Institute on Wednesday January 18 at 5pm.Spaces were made available today and demand is expected to be very high. The Mathematics Institute will be podcasting the lecture live.He will speaking about black holes in the inaugural Roger Penrose lecture at the Royal Observatory Quarter on Woodstock Road.Prof Hawking is currently Director of Research at the Cambridge University Department of Applied Mathematics and Theoretical Physics.The Professor, now 74, was diagnosed with the motor neurone disease ALS at the age of 21.It will be the first lecture in a new series offered by the Mathematics Institute, in celebration of the lifetime’s contribution of Professor Roger Penrose.It was alongside Penrose that Hawking showed that Einstein’s General Theory of Relativity implied space and time would have a beginning in the Big Bang and an end in black holes.The lecture will be Hawking’s second address in Oxford in the space of three months, having spoken at the Union in November.His speech there – tickets for which sold out in minutes – warned that humans will die out within 1,000 years unless mankind leaves earth.People can email [email protected] to register to attend the event, and visit maths.ox.ac.uk for more details.Oxford University have been contacted for for comment.last_img

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