Beijing, China will surpass the US to become the world’s largest Internet of Things (IoT) market in 2024.
China’s spending on IoT is expected to reach around $300 billion by 2024, with the compound annual growth rate to stand at 13% in the next five years, data from global market research firm International Data Corporation (IDC) showed.
In 2024, the country’s spending on IoT will account for 26.7% of global spending in the sector, followed by the United States at 23.8% and western Europe at 23.4%, IDC data showed.
+INFO: BusinessInsider
