The latest global semiannual Internet of Things Spending Guide from International Data Corporation, IDC, released at the weekend has revealed that organizations in the Middle East and Africa, MEA, will invest more than $6.6 billion in Internet of Things, IoT, hardware, software, services, and connectivity in 2016.
The global ICT consulting and advisory services firm expects IoT revenues in the region to increase at a compound annual growth rate (CAGR) of 21.3 per cent over the next four years to total more than $14.3 billion in 2020.
Manufacturing and transportation are the vertical industries leading the way in terms of IoT investment in MEA, with both expected to spend an estimated $1.1 billion each in 2016. The next largest industry, utilities, is expected to see IoT investments of almost $800 million in 2016.
The IoT use cases receiving the greatest levels of investment from MEA organizations across these three industries are manufacturing operations, which supports digitally-executed manufacturing.
