Global IoT spending to grow 24% in 2021, led by investments in IoT software and IoT security

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Key Insights Overall enterprise Internet of Things (IoT) spending grew 12.1% in 2020 to $128.9 billion.Asia-Pacific (APAC) saw the fastest growth (17.0%), followed by North America (14.9%) and Europe (9.7%).2021 IoT spending for enterprises is expected to grow 24.0% in 2021.Beyond 2021, it is expected that IoT spending will grow at 26.7% annually. More about the data Why it matters? Technology markets are re-accelerating in 2021 as COVID-19 fades.IoT remains a high-growth market with opportunities across the entire technology stack. Spending on enterprise IoT solutions grew 12.1% in 2020 to $128.9 billion, according to IoT Analytics’ latest update on the