IoT spend in Europe will reach almost $230bn in 2023 - IDC

European organisations are expected to spend around $227bn (£179bn) on Internet of Things (IoT) technology in 2023, according to IDC. IoT-related spending is expected to continue to expand at a five-year compound annual growth rate (CAGR) of 11 per cent, reaching almost $345bn (£272bn) by 2027. IoT development in Europe reflects enterprises' evolving digital transformation investment objectives related to cost reduction, process streamlining, automation, and enhanced customer experience...