Internet of Thingsnews

Global IoT Market To Hit $1.29 Trillion By 2020: Report

iot revenue india

Digital technology like Internet of Things (IoT) is poised to transform the way businesses generate and consume data and the worldwide IoT market spend is expected to grow to USD 1.29 trillion in 2020, says an IDC-Aeris report.

A key factor driving its adoption is the increasing realisation of the value that IoT brings along improving customer experience.

In addition, most businesses today are either at a starting point in their IoT journey or are at some stage considering an IoT deployment which in turn will lead to significant uptrend in the adoption of IoT.


According to an IDC-Aeris report, the worldwide IoT market spend will grow from USD 625.2 billion in 2015 to USD 1.29 trillion in 2020, with a compounded annual growth rate (CAGR) of 15.6 per cent.

“Today, IoT has gone way beyond tagging and tracking and has entered diverse domains and is enabling a range of business benefits,” said Rishi Bhatnagar, President of Aeris in India.

The report further noted that the installed base of IoT end points will grow to more than 30 billion by 2020, from 12.1 billion at 2015-end.

“As CIOs, IT, and business leaders move towards transforming their enterprises and expanding their digital footprint, the role of IoT will be a lynchpin for causing disruption and driving transformation,” said Arjun Vishwanathan, Associate Director for Emerging Technologies, IDC India.

Source – PTI News

Like this content? Sign up for our daily newsletter to get latest updates.


Founding editor at IndianWeb2, he's been writing at IndianWeb2 since 2007. Apart from blogging he had a professional career of software developer, Ux developer and search engine marketer in past. His vision of IndianWeb2 has been laid down so as to showcase, encourage and propagate Indian startups, innovation and entrepreneurship ideas.

Mastercard Sets Up Its First Innovation Lab In India; To Work Alongside Local Fintech Industry

Previous article

Govt Planning To Sell Petrol, Diesel Online

Next article



This site uses Akismet to reduce spam. Learn how your comment data is processed.