IoT hardware is expected to be the largest technology project in 2018 with $ 239 billion being mainly focused on modules and sensors and some will be invested in infrastructure and security Software is expected to be the fastest-growing technology category in the IoT market, with 2017-2021 CAGR pre- Estimated at 16.1%.
IDC expects IoT Service Spending CAGR to reach 15.1% between 2017 and 2021 and estimates the annual amount for 2021 to approach IoT hardware.
Carrie MacGillivray, vice president of operations and IoT at IDC, said that by 2015 more than 55% of IoT planned spending will focus on software and services.
The most actively invested IoT solutions in 2018 are manufacturing ($ 189 billion), transportation ($ 85 billion) and utilities ($ 73 billion).
In 2018, cross-industry (Cross Industries) IoT application expenditures such as car networking and intelligent building are estimated to approach 92 billion U.S. dollars.
IDC Research Director Marcus Torchia said consumer Internet spending will reach $ 62 billion in 2018, making it the fourth-largest industry category, with applications such as smart home, home automation, security and smart appliances.
Under the guidance of smart appliances, consumer IoT spending CAGR is estimated to reach 21.0% in 2017-2021, ranking the highest among all industry sectors (see photo).