IDC: IoT revenues in CEE will reach 24 billion USD in 2020

IDC: IoT revenues in CEE will reach 24 billion USD in 2020

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The Internet of Things (IoT) revenues in Central and Eastern Europe will reach 24 billion USD in 2020, according to the recent IDC forecast. In 2016 spending on IoT in the region hit 11 billion USD, as organizations accelerated their investments in hardware, software, services and connectivity.

Insurance, construction and transportation are some of the industries that will record the fastest spending growth in terms of IoT investments. One of the top sources of IoT spending till 2020 will also be the consumer segment. In 2016 the CEE industries that were leading the way in IoT investments were: transportation, manufacturing and utilities.
According to another research firm, Gartner, in 2017 the number of connected “things” across the world will grow by 31% y/y, reaching 8.4 billion devices. In 2020 the number of connected “things” will reach 20.4 billion.
To read more about the IDC predictions on IoT spending in CEE, click here.

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