According to a new International Data Corporation (IDC ) Spending Guide, worldwide spending on the Internet of Things (IoT) will grow at a 17.0% compound annual growth rate (CAGR) from $698.6 billion in 2015 to nearly $1.3 trillion in 2019.

On a geographic basis, Asia/Pacific is the clear leader when it comes to IoT spending with more than 40% of the worldwide total coming from this region in 2015. North America and Western Europe are the second and third largest regions with combined spending of more than $250 billion in 2015. The regions that will experience the fastest growth in IoT spending over the five-year forecast period are Latin America (26.5% CAGR), followed by Western Europe, and Central and Eastern Europe.

ixbt.com