Expenditures in Europe on the Internet of Things in 2021 are estimated at $ 200 billion

Moscow. the 9th of June. INTERFAX.RU – Expenditures on the Internet of Things (Internet of Things, IoT) in Europe in 2021 will exceed $ 200 billion, while their double-digit growth rates will continue until the end of 2025, analysts of the research company International Data Corporation (IDC) predict.

“Despite the global impact of the COVID-19 pandemic, IoT costs continue to rise, albeit at a slower pace than in previous years,” they said.

In 2021, the bulk of IoT spending will be on hardware (modules and sensors), while software costs will increase at the fastest pace in the coming years, the researchers believe.

Consumer demand will play an important role in home automation solutions, including remote monitoring and control.