April 13 (SeeNews) - Expenditure for IoT in Central and Eastern Europe (CEE) is expected to rise by an annual 15.5% to $11.2 billion (9.7 billion euro), market intelligence provider IDC said on Friday.
The three sectors which are expected to make the largest investments in IoT are manufacturing with $2.2 billion, transport with $1.6 billion and utilities with $1.2 billion, IDC said in a statement ahead of the IoT Adventure Forum, which will be held in Sofia on May 15.
The IoT market for consumers is also expected to grow strongly and reach $1.2 billion in 2018, dominated by smart devices, security, automation and robotization of smart homes.
According to IDC, worldwide spending on IoT is expected reach $772.5 billion in 2018, an increase of 14.6% compared to the $674 billion spent in 2017.
The IoT Adventure Forum 2018, which will take place at Novotel hotel in Sofia, comes with top industry keynote speakers, six dedicated tracks, case studies, workshops and expo zone, covering the entire Internet of Things ecosystem including smart transportation and cities, developing for the IoT, connected industry, consumer IoT, IoT innovations and technologies and privacy and security.
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