Federal IoT market to reach $3B by FY18

Mark Wisinger

By Kevin Shaker and Mark Wisinger, senior analysts

The internet of things today is what cloud was five to six years ago. A lot of people are interested in it and buying IT solutions that comprise IoT in disparate ways.

This is an exciting time for the IT industry because companies can influence how the market is shaped since it’s still so new. IoT is not a discrete technology but rather a wrapper encompassing many different technologies, and these solutions are ramping up in a big way through the growing amount of sensors and data.

The big picture projection is that $6 trillion will be spent on devices and IoT software across all industries in the next five years, according to Business Insider’s Business Intelligence research. We predict the federal IoT addressable market will hit $3 billion in FY18, up from $2.5 billion spent in FY16.

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