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- The key takeaways that we think you will find as well are:
- IoT is here to stay.
- Global IoT market continues to grow at significant rates (Compound Annual Growth Rate of 28.5% 2016 to 2020). This should mean that there are plenty of opportunities all along the value chain.
- Smart Cities, Industrial IoT and Connected Health lead in growth, while automobiles, smart utilities, smart homes, and wearables, other subsectors have a smaller but still significant growth potential.
- Global IoT spending will exceed $1 Trillion by 2020.
- Manufacturing leads the pack in IoT spending, covering a variety applications towards supply chain management, inventory, asset tracking, and safety.
- A majority of companies plan to increase their IoT spending by approximately 10% - 30% over the next three years.
- IoT hardware, services, software, and connectivity are all important market sectors that contribute to overall growth.
Important links and references
Dig deeper and check out these referenced articles: