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According to analyst firm ITC, global spending on IoT technology reached $700 billion in 2016 and is expected to increase to $1.
3 trillion
by 2020.
Global IoT spending reached $1.
3 trillion by 2020
The ITC published a survey based on a survey of more than 300 institutions across six industries, one of which is energy
.
The report shows that in the energy sector, 35% of manufacturers have fully deployed IoT applications, compared to 37%
across all industries.
The top IoT applications that currently generate additional revenue for energy companies are in the maintenance area, such as smart technology reporting damage
.
Despite this, only 1% of energy and utility companies have implemented large-scale IoT initiatives
in the maintenance space.
The top IoT application currently driving cost reduction is smart metering, but only 12% of companies have launched such initiatives
.
Some 77% of energy and utility companies said uncertainty about regulations and standards was a major barrier
to implementing large-scale IoT systems.
75% of respondents said cybersecurity is a real obstacle.
，
According to analyst firm ITC, global spending on IoT technology reached $700 billion in 2016 and is expected to increase to $1.
3 trillion
by 2020.
Global IoT spending reached $1.
3 trillion by 2020
3 trillion by 2020
The ITC published a survey based on a survey of more than 300 institutions across six industries, one of which is energy
.
The report shows that in the energy sector, 35% of manufacturers have fully deployed IoT applications, compared to 37%
across all industries.
The top IoT applications that currently generate additional revenue for energy companies are in the maintenance area, such as smart technology reporting damage
.
Despite this, only 1% of energy and utility companies have implemented large-scale IoT initiatives
in the maintenance space.
The top IoT application currently driving cost reduction is smart metering, but only 12% of companies have launched such initiatives
.
Some 77% of energy and utility companies said uncertainty about regulations and standards was a major barrier
to implementing large-scale IoT systems.
75% of respondents said cybersecurity is a real obstacle.
，
