It is now obvious that, the true value of Internet of Things (IoT) is being realized when the software and services come together to enable the capture, interpretation, and action on data produced by IoT endpoints.
According to IDC, the industries making the largest IoT investments in 2017 are Manufacturing ($183 billion), Transportation ($85 billion), and Utilities ($66 billion). Cross-Industry IoT investments, which represent use cases common to all industries, such as connected vehicles and smart buildings, will be $86 billion in 2017 and rank among the top segments throughout the five-year forecast. Consumer IoT purchases will be the fourth largest market segment in 2017 at $62 billion.
The firm also reveals that, the industries that will see the fastest spending growth are Insurance (20.2% CAGR), Consumer (19.4%), and Cross-Industry (17.6%).