Internet of Things Spending to Reach 1.7 Trillion by 2020 (Yuyu Chen)

The Internet of Things market is estimated to reach 1.7 trillion globally by 2020, according to a new study by International Data Corporation. The worldwide Internet of Things (IoT) market will grow from $655.8 billion in 2014 to $1.7 trillion in 2020, according to research company International Data Corporation (IDC). IDC defines the IoT as a network of identifiable endpoints that communicate using IP connectivity without human interaction, including smart appliances, automated public transit and remote health monitoring, among others. The company predicts that by 2020, devices, connectivity and IT services will represent more than two-thirds of the worldwide IoT market, with devices alone accounting for 31.8 percent of the total. (clickz.com)