IoT Spending This Year: $232 Billion; Biggest Revenue Growth: In-Store Marketing

Among other things, there are large dollar amounts involved in the Internet of Things.

Aside from the various projections of 20 billion or more Internet-connected devices coming, the investment from businesses is even more noteworthy.

U.S. organizations will invest more than $232 billion in Internet of Things hardware, software, services and connectivity this year, based on the latest worldwide spending forecast from the International Data Corp. (IDC).

That spending is going to be in this year, not some four or five years out, as projection of connected devices often reside.

IoT revenue also is expected to grow past $357 billion in three years, growing 16% a year.

While much of the investment is in business areas such as manufacturing and transportation, the innovation that will result from the investments will ultimately extend to all areas of consumer activity.

Some of the same learnings from creating and implementing smart buildings will migrate to homes.

While the building IoT technology will be more industrial strength (with the associated costs, of course), the extended result can be lighter versions of the same approaches to be transferred to smart homes.

But not all of the activity will be in areas such as manufacturing and transportation.

The areas that are projected to have the greatest revenue growth in the U.S. over the next three years are in-store contextualized marketing, connected vehicles and insurance telematics.

Brands and marketers will be involved in all of those.


The MediaPost IoT Marketing Forum is being held Aug. 3 in New York. Check it out the agenda here

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