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Internet of Things (IoT) environment consists of an enormous smart device that communicate with each other, so they can gather and transmit the sensing information into IoT network. Besides, IoT has now a wide range of live applications such as transportation, smart home, healthcare, industry, smart environment, smart city as well social gaming robots and personal. In parallel, Industrial Internet of Things (IIoT) is empowered by more momentum as businesses integration between Artificial Intelligence (AI), Big-data and IoT technologies. According to the International Data Corporation (IDC), the worldwide market for IoT solutions including intelligent systems, connectivity services, infrastructure, applications, security, analytics, and professional services has observed an annual growth rate of 20% CAGR (Compound Annual Growth Rate). Furthermore, IoT will play a crucial role in the near future as per the worldwide statistics. It is expected that there will be a considerable amount of cash flow through the worldwide market in the upcoming years for IoT. At the same time, this paper explicitly provides forecast statistics between 2020 till 2030, as it helps organizations and decision makers in many areas, such as industrial and manufacturing, healthcare and lifestyle, energy and utilization, and many other areas related to IoT spending by sector that show expected growth forecasted in this paper.
Al-Sarawi et al. (Wed,) studied this question.