The Internet of Things is here to stay and is expected to grow drastically within the next few years. Worldwide IoT spending is expected to reach $1.29 trillion by 2020 as industries continue to grow their hardware, software and services to enable more connectivity, according to a recent report by IDC.
Last year, global spending on IoT was estimated to be at $737 billion and the industries that made the largest investments included manufacturing, transportation, and utilities. The industries that are spending on IoT at the fastest growth rate include insurance, consumer, healthcare, and retail. Where will all of that spending go? Here are four industries that are likely to expand their IoT investments in the coming year and their potential uses for it.
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