Worldwide spending on the Internet of Things will total nearly US$773 billion this year, IDC has predicted.
The IoT will sustain a compound annual growth rate of 14.4 percent, and spending will hit $1.1 trillion by 2021, according to the firm's forecast late last year.
Consumer IoT spending will total $62 billion this year, making it the fourth largest industry segment, after manufacturing, transportation and utilities. The leading consumer use cases will be related to the smart home, including home automation, security and smart appliances, IDC said.
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