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SEPTEMBER 2019        TAP TIMES          -16-           Hardware spending is close behind at
                                                                $91.6 billion led by more than $74.8 billion
                                                                in module/sensor purchases.
               Asia-Pacifi c will be 2019
                 spending leader in IoT                         IoT software spending is forecast to to-
                                                                tal $39.3 billion in 2019 and will see the
                                                                fastest growth over the fi ve-year forecast
                                                                period (2018-23) with a CAGR of 14.4 pe-
        SINGAPORE—The latest update of the
        IDC Worldwide Semiannual Internet                       riod.
        of Things Spending Guide reveals that
        the Asia/Pacifi c region will be the
        global leader for Internet of Things                    Services spending
                                                                Services spending will also grow faster
        (IoT) spending in 2019 with around
        35.7 percent ofworldwide spending.                      than overall IoT spending with a CAGR of
                                                                12.6 percent.

                                                                “In Asia/Pacifi c, there is considerable sup-
        The U.S. will be in second place                        port and mandates from governments,
        A/P will be followed by the U.S. and West-
        ern Europe with 27.3 and 21.2 percent of                such as PRC, South Korea, Taiwan, Hong
                                                                Kong and Singapore, to promote the de-
        the WW IoT Spend in 2019 respectively.
                                                                velopment of IoT across all major indus-
                                                                tries, particularly energy and resources,
        China is the top spender in the region with             transportation, manufacturing, agriculture,
        $168.6 billion accounted for the year 2019
        followed by South Korea and India with a                government, healthcare, and retail,” noted
                                                                Ashutosh Bisht, IDC senior research man-
        spending of $26.2 billion and $20.6 billion
        in 2019 respectively.                                   ager for Asia/Pacifi c.

                                                                In the PRC and Hong Kong, individual mu-
        IoT services is the largest technology
        group in 2019 with $94.6 billion going to-              nicipalities have embarked on Smart City
                                                                zones oftentimes in cooperation with local
        ward traditional IT and installation services
        as well as non-traditional device and op-               universities and businesses,” he added.
        erational services.
                                                                “Willingness towards the implementation
                                                                of 5G infrastructure will help to accelerate
                                                                         IoT growth of applications that will
            Top Use Case Based on 2019 Market Value
                                                                         benefi t from low-latency and more
                                                                           bandwidth such as video-centric

                                                                           The three commercial industries
                                                                           that will spend the most on IoT
                                                                           solutions throughout the forecast
                                                                           are discrete manufacturing, pro-
                                                                           cess manufacturing, and utilities.

                                                                           Together, these three industries
                                                                           will account for nearly 40 percent
                                                                           of the worldwide spend total in
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