Why the IoT market is predicted to double by 2021 - reaching $520 billion
- Bain predicts the combined markets of the Internet of Things (IoT) will grow to about $520bn in 2021, more than double the $235bn spent in 2017.
- Data centre and analytics will be the fastest growing IoT segment, reaching a 50% Compound Annual Growth Rate (CAGR) from 2017 to 2021.
- IoT customers are planning and executing more proof of concept pilots, with many balancing their expectations regarding broader adoption.
- Cloud service providers (CSP) are emerging as influential providers of IoT services, consulting and analytics for enterprises, leaving smaller opportunities for other providers in niche...