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Internet of Things market likely to grow to $1.29 trillion by 2020: Report

The report further noted that the installed base of IoT endpoints will grow to more than 30 billion by 2020

Press Trust of India  |  New Delhi 

India has 43% of IoT market
IoT

like the (IoT) is poised to transform the way businesses generate and consume data and the worldwide market spend is expected to grow to $1.29 trillion in 2020, says a report.

A key factor driving its adoption is the increasing realisation of the value that brings along improving customer experience.


In addition, most businesses today are either at a starting point in their journey or are at some stage considering an deployment which in turn will lead to a significant uptrend in the adoption of

According to an IDC-report, the worldwide market spends will grow from $625.2 billion in 2015 to $1.29 trillion in 2020, with a compounded annual growth rate (CAGR) of 15.6 per cent.

"Today, has gone way beyond tagging and tracking and has entered diverse domains and is enabling a range of business benefits," said Rishi Bhatnagar, President of in

The report further noted that the installed base of endpoints will grow to more than 30 billion by 2020, from 12.1 billion at 2015-end.

"As CIOs, IT, and business leaders move towards transforming their enterprises and expanding their footprint, the role of will be a lynchpin for causing disruption and driving transformation," said Arjun Vishwanathan, Associate Director for Emerging Technologies,

First Published: Thu, October 12 2017. 15:29 IST
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