IoT spending to hit $1.7tn a year by 2020 despite security threats

Spending on the Internet of Things (IoT) will rise dramatically over the next few years, from some $565bn this year to £1.7tn in 2020. The figure comes from IDC’s Worldwide Internet of Things Forecast 2015-2020, which said that the bulk of spending will be done by the enterprise. Smartwatches and other gadgets get all the current attention, but it will be functional technology such as IT services that sets the IoT market alight, according to IDC.

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