worldwide spending on IoT by 2023 was 1.1 trillion U.S. dollars, as estimated in 2019. Region-wise, the Asia Pacific region held the largest share of the IoT market. North America came in second, followed by Europe, Middle East and Africa.
As of 2020, 749 billion U.S. dollars were expected to be spent on the Internet of Things (IoT) technology worldwide. Despite being an increase from the year before, the 2020 spending will grow less than originally forecast, due to the global coronavirus pandemic. The prognosis for Prognosis of worldwide spending on the Internet of Things (IoT) from 2018 to 2023 (in billion U.S. dollars)
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IDC. (June 18, 2020). Prognosis of worldwide spending on the Internet of Things (IoT) from 2018 to 2023 (in billion U.S. dollars) [Graph]. In Statista. Retrieved March 05, 2021, from https://www.statista.com/statistics/668996/worldwide-expenditures-for-the-internet-of-things/
IDC. "Prognosis of worldwide spending on the Internet of Things (IoT) from 2018 to 2023 (in billion U.S. dollars)." Chart. June 18, 2020. Statista. Accessed March 05, 2021. https://www.statista.com/statistics/668996/worldwide-expenditures-for-the-internet-of-things/
IDC. (2020). Prognosis of worldwide spending on the Internet of Things (IoT) from 2018 to 2023 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: March 05, 2021. https://www.statista.com/statistics/668996/worldwide-expenditures-for-the-internet-of-things/
IDC. "Prognosis of Worldwide Spending on The Internet of Things (Iot) from 2018 to 2023 (in Billion U.S. Dollars)." Statista, Statista Inc., 18 Jun 2020, https://www.statista.com/statistics/668996/worldwide-expenditures-for-the-internet-of-things/
IDC, Prognosis of worldwide spending on the Internet of Things (IoT) from 2018 to 2023 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/668996/worldwide-expenditures-for-the-internet-of-things/ (last visited March 05, 2021)