The statistic presents the spending on "Internet of Things" as a percentage of company revenue worldwide as of May 2015, by industry sector. The value of spend of the global insurance industry on "Internet of Things" constituted 0.3 percent of the insurance companies' revenues.
Internet of Things – additional information
The “Internet of Things” (IoT) is a term used to describe the digital hardware and software that is embedded in gadgets from cameras to coffee makers and those digitally connected ‘things’ that use the internet and wireless communication networks. As of May 2015, most spending on the Internet of Things as a percentage of company revenue occurred within the travel, transportation and hospitality sector, but significant spending also occurred within industrial manufacturing, media and entertainment and of course telecommunications.
Investing company revenue in the IoT, has been and is projected to generate significant revenue in the future. In 2020, IoT is expected to generate 8.1 billion euros in global revenue and the number of connected devices worldwide will exceed 50 billion. The IoT market is growing fast and in 2014 it was already worth 601.2 billion U.S. dollars.
The IoT trend and its impact on products and services will also ultimately shape the products and services of the future and many companies are hoping to achieve greater accessibility to information, increased customer satisfaction and lower costs among other gains by capitalizing on IoT. It seems like “smart” things will be a much larger part of our lives in the future.
Spending on "Internet of Things" as a percentage of company revenue worldwide as of May 2015, by industry sector
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Average spend as a share of company revenue
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Tata Consultancy Services. (July 30, 2015). Spending on "Internet of Things" as a percentage of company revenue worldwide as of May 2015, by industry sector [Graph]. In Statista. Retrieved September 01, 2024, from https://www.statista.com/statistics/486016/spend-on-internet-of-things-as-share-of-revenue-by-industry/
Tata Consultancy Services. "Spending on "Internet of Things" as a percentage of company revenue worldwide as of May 2015, by industry sector." Chart. July 30, 2015. Statista. Accessed September 01, 2024. https://www.statista.com/statistics/486016/spend-on-internet-of-things-as-share-of-revenue-by-industry/
Tata Consultancy Services. (2015). Spending on "Internet of Things" as a percentage of company revenue worldwide as of May 2015, by industry sector. Statista. Statista Inc.. Accessed: September 01, 2024. https://www.statista.com/statistics/486016/spend-on-internet-of-things-as-share-of-revenue-by-industry/
Tata Consultancy Services. "Spending on "Internet of Things" as a Percentage of Company Revenue Worldwide as of May 2015, by Industry Sector." Statista, Statista Inc., 30 Jul 2015, https://www.statista.com/statistics/486016/spend-on-internet-of-things-as-share-of-revenue-by-industry/
Tata Consultancy Services, Spending on "Internet of Things" as a percentage of company revenue worldwide as of May 2015, by industry sector Statista, https://www.statista.com/statistics/486016/spend-on-internet-of-things-as-share-of-revenue-by-industry/ (last visited September 01, 2024)
Spending on "Internet of Things" as a percentage of company revenue worldwide as of May 2015, by industry sector [Graph], Tata Consultancy Services, July 30, 2015. [Online]. Available: https://www.statista.com/statistics/486016/spend-on-internet-of-things-as-share-of-revenue-by-industry/