- According to GlobalData, the global market for business-focused Internet of Things (IoT) technology, which consists of software, services, connectivity, and devices, reached $130 billion in 2018, and it is projected to reach $318 billion by 2023, a CAGR of 20%.
- This forecast has implications both for IoT vendors and service providers as well as for the enterprises that will use their products and services to achieve operations improvements, cost reduction, and eventually revenue-generating products and services of their own.
GlobalData’s latest IoT forecast splits out technology into three segments: software and solutions, connectivity, and devices.
Continue reading “IoT Forecasts Augur Well for Software and Services, a $226 Billion Market by 2023”
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