Worldwide spending on the Internet of Things (IoT) will grow at a 17% compound annual growth rate (CAGR) from $698.6 billion in 2015 to nearly $1.3 trillion in 2019, according to International Data Corp (IDC).

On a geographic basis, Asia/Pacific is the clear leader in IoT spending, with more than 40% of the worldwide total coming from that 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.

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