Proof Point
DBS estimates industries will spend approximately $300 billion annually on Internet-of-Things (IoT) technologies by 2020, four times more than $70 billion spent in 2015
Annual Internet-of-Things (IoT) Spending by Industry
2015 and 2020 (US$ billions)
Proof Point Findings
- Internet-of-Things – Network of physical objects and virtual platforms embedded with software, sensors, and network connectivity that are capable of collecting and exchanging data
- Greater 2020 Spending – DBS projects annual Internet-of-Things spending by industries in 2020 to reach approximately $300 billion, increasing 33% annually from over $70 billion in 2015
- Energy, Utilities, and Natural Resources – Energy, utilities and natural resources forecasted to spend over $60 billion on IoT technologies by 2020, largest spending among industries
- Manufacturing and Transport and Logistics – Manufacturing and transport and logistics estimated to both spend $48 billion on IoT by 2020, four times greater than $12 billion spending in 2015
- Large Retail Growth – While spending may not be as large as other industries, investment in IoT solutions by retail sector expected to increase 48% annually from 2015 value of $2 billion to $14 billion in 2020
- Key Growth Drivers – Include increasing affordability of IoT devices, proliferation of new Internet-of-Things modules, growing industrial application of IoT devices, greater drive for efficiency gains, and expanding network connectivity
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Accelerator |
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Sector |
Cross-sector, Energy, Healthcare/Health Sciences, Industrial Manufacturing, Mining and Natural Resources, Transportation and Logistics, Utilities, Wholesale and Retail Trade
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Source |
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Date Last Updated |
February 8, 2019
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