Global IoT technology market to reach $318 billion by 2023, says GlobalData — from which-50.com
Excerpt:
The global market for Internet of Things (IoT) technology, which consists of software, services, connectivity, and devices, reached $130 billion in 2018, and is projected to reach $318 billion by 2023, at a compound annual growth rate (CAGR) of 20 per cent, according to GlobalData.
GlobalData forecasts show that solutions for government, utilities and manufacturing dominate the market, with a total of 58 per cent of the opportunity in 2018 and a slighter smaller 55 per cent of the market in 2023, as others such as travel and leisure and retail grow their respective shares. Energy and transportation are other major verticals, with a combined 15 per cent of the market in both 2018 and 2023.
Also see:
- As digital technology pervades the utility industry so too does the risk of cyber attacks — from by which-50.com by Joseph Brookes
Excerpt:
Smart metres and IoT have the potential to optimise performance and maintenance of the billions of dollars worth of infrastructure in Australian utilities. But each new device creates a potential access point to systems that are not designed with cyber security in mind and, in some cases, are already exposed.