IDC: China's Internet of things is expected to spend nearly $300 billion in 2026

CTOnews.com January 6 news, IDC recently released the 2022 V2 version of IDC "Global Internet of things Expenditure Guide" (IDC Worldwide Internet of Things Spending Guide).

According to IDC, the global enterprise-level investment in the Internet of things is about $681.28 billion in 2021 (currently about 4.69 trillion yuan), and is expected to increase to $1.1 trillion in 2026 (currently about 7.57 trillion yuan), with a five-year compound growth rate (CAGR) of 10.8 percent.

CTOnews.com learned that IDC predicts that the IT expenditure of the Internet of things in China will be close to $298.12 billion in 2026 (currently about 2.05 trillion yuan), accounting for about 1x4 of the total investment in the Internet of things, which will lead the world. In addition, China's IT expenditure on the Internet of things grew steadily at a five-year CAGR of 13.4%, exceeding the global average.

▲ source IDC China during the five-year forecast period, manufacturing, government, public utilities, professional services and retail are the main end-users of China's Internet of things expenditure, accounting for 60% of China's Internet of things expenditure. In addition, this forecast increases the investment scale of the banking and construction industry in the Internet of things market.