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Internet of Things Spending to Reach $1.2 Trillion in 2022- IDC

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International Data Corporation (IDC) reports on Internet of Things shows that spending will experience a compound annual growth rate (CAGR) of 13.6% over the 2017-2022 forecast period and reach $1.2 trillion in 2022.

 

The forecast is based on the latest research in the burgeoning IoT technology market, which offers business investment opportunities across a spectrum of industries and illuminated through use case implementations.

 

As the diverse IoT market reaches broad-based critical mass, innovative offerings in analytics software, cloud technologies, and business and IT services have expanded rapidly.

 

Carrie MacGillivray, group vice president, Internet of Things and Mobility, said, “The IoT market is at a turning point – projects are moving from proof of concept into commercial deployments.

 

“Organizations are looking to extend their investment as they scale their projects, driving spending for the hardware, software, services, and connectivity required to enable IoT solutions.”

 

The intersection of multiple technology domains is one key to successfully understanding and developing a supply-side product and market development strategy.

 

The IDC IoT Spending Guide is an industry defining market intelligence tool that details end-user adoption and spending across multiple segmentations.

 

Marcus Torchia, research director, Customer Insights & Analysis, said, “The latest IoT Spending Guide release fully aligns to IDC’s Industry Taxonomy.

 

“We now forecast all 20 standard IDC Industries,”

 

“As a result, we are proactively mapping IoT use cases that have segmentations in shared domains, such as in Smart Cities and Digital Transformation investment areas.

 

“As a part of these improvements, IoT supports spending forecasts for 100 use cases.”

 

Forecast highlights show that the consumer sector will lead IoT spending growth with a worldwide CAGR of 19%, followed closely by the insurance and healthcare provider industries.

 

From a total spending perspective, discrete manufacturing and transportation will each exceed $150 billion in spending in 2022, making these the two largest industries for IoT spending.

 

From an enterprise use case perspective, vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) solutions will experience the fastest spending growth (29% CAGR) over the forecast period, followed by traffic management and connected vehicle security.

 

The Worldwide Semiannual Internet of Things Spending Guide forecasts IoT spending for 14 technologies across 20 vertical industries in nine regions and 53 countries through 100 use cases.

 

 

Unlike any other research in the industry, this comprehensive spending guide was designed to help vendors clearly understand the industry-specific opportunity for IoT technologies today.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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MTN, Lynk Global Make Africa’s First Satellite-to-Mobile Call

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MTN South Africa, in partnership with Lynk Global, has successfully conducted Africa’s first satellite-to-mobile phone call touted as a groundbreaking development.

MTN, Lynk Global Make Africa’s First Satellite-to-Mobile Call

This historic trial, conducted in Vryburg, North West province, marks a major step toward bridging connectivity gaps in underserved and rural regions across the continent.

The test involved making a voice call using a standard smartphone connected via a low-Earth orbit (LEO) satellite.

This innovative approach eliminates the need for traditional network infrastructure, providing a viable solution for remote areas with limited or no mobile coverage.

According to Charles Molapisi, CEO of MTN South Africa, this initiative aligns with the company’s broader strategy to extend network coverage to hard-to-reach areas.

“This achievement demonstrates our commitment to leveraging cutting-edge technology to ensure connectivity for all, regardless of location,” Molapisi stated.

The trial also assessed SMS capabilities over the LEO satellite connection, proving the technology’s potential for widespread application.

With successful implementation, satellite-to-mobile communication could revolutionise telecommunications in Africa, enabling digital inclusion and economic opportunities in regions previously disconnected from mainstream networks.

This milestone underscores the growing role of satellite technology in Africa’s telecommunications landscape.

By integrating satellite solutions with existing mobile networks, MTN and Lynk Global aim to provide seamless connectivity that overcomes traditional infrastructure challenges.

 

 

 


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Smart Treasure Investment Team’s Initiatives Eradicate Poverty, Says Aminu

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Samson Aminu
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Samson Aminu, also known as Smile, has described the Smart Treasure Investment Team (ST Team) as a transformative force that has empowered its members and significantly contributed to poverty eradication.

Samson Aminu

Aminu, a VIP 9 member of the team, shared his experiences on Friday during the official car presentation ceremony held at the regional office in Lagos. Having recently received a Lexus RX350 and an international vacation from the team, Aminu recounted how the organization has positively changed his life.

“The Smart Treasure Investment Team has really imparted my life positively and changed my status from zero to hero,” he said.

He revealed that his first earnings through the team allowed him to relocate to a new apartment and acquire gadgets. “I’ve purchased various items for myself and my family, and established an operational center in Ilorin,” he added.

The ST Team, according to Aminu, aligns its activities with the United Nations’ 16 Sustainable Development Goals (SDGs), which include youth empowerment, poverty eradication, support for education in rural areas, and community service.

“The ST Team has come to eradicate poverty in Africa and across the globe. We are teaching people how to catch fish by themselves and making them financially stable,” Aminu explained.

He highlighted the organization’s initiatives such as providing allowances to civil servants, feeding the elderly, orphans, and widows, and investing in agriculture to sustain local communities.

“If the ST Team lasts long for another three years, the government would be grateful to this project as it would bring peace and comfort to the society,” Aminu said.

He applauded the leaders of the organization, Dr. Harold and Mentor Tina, for their sincerity, honesty, and dedication to humanity. “I urge the government to support this project, which has brought significant change to Nigeria in just two years,” he said.

Aminu, who has over 15 years of experience in multilevel marketing, commended the team for its exceptional standards and sustainability.


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15-Year-Old Autistic Artist, Kanye, to Unveil World’s Largest Art Canvas on Autism Awareness Day

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Kanyeyachukwu Tagbo-Okeke, affectionately known as Kanye, has become a beacon of inspiration for Nigeria’s youth. The 15-year-old autistic artist is set to unveil what is expected to be the world’s largest art canvas by an individual on April 2, 2025, World Autism Awareness Day, at Eagles Square in Abuja.

Kanye’s journey began at the tender age of two when he first showed a proclivity towards art. Despite facing challenges associated with autism, Kanye has flourished as an artist, earning accolades and the nickname “Young Picasso” for his exceptional abstract paintings.

The young prodigy’s attempt at breaking the Guinness World Record started in November. 2024, as part of the Zeebah Foundation’s ‘Impossibility Is A Myth’ project. This initiative not only showcases Kanye’s extraordinary talent but also aims to raise funds for a state-of-the-art autism resource center in Abuja, highlighting the need for greater support and inclusion for individuals with autism.

Kanye’s story aligns with MTN Nigeria’s recent “Go Make A Difference” (Go M.A.D) campaign, which encourages Nigerians to take bold steps and create positive impacts in their communities. Onyinye Ikenna-Emeka, MTN’s Chief Marketing Officer, emphasised how Kanye embodies the Go M.A.D philosophy: “MTN’s mission is to connect people all over the world. Kanye is connecting art lovers, and people all over the world as well. He is a true icon, breaking barriers and proving that nothing is impossible”.

The unveiling event will be attended by key dignitaries, including FCT Minister Nyesom Wike, and Minister of Arts, Culture, Tourism and the Creative Economy, Hannatu Musawa. This high-profile support underscores the significance of Kanye’s achievement and its potential to inspire change.

Kanye’s father, Tagbo Okeke, stressed that this record attempt goes beyond personal achievement. “We started this awareness campaign to tell parents that no child should be left behind, that they are Fabulous, Autistic and Talented,” he said. The family’s efforts, including opening a gallery in Abuja where art therapy workshops are conducted, demonstrate their commitment to supporting others on the autism spectrum.

As Nigeria’s youth witness Kanye’s remarkable journey, many are inspired to make their own difference, regardless of the challenges they face. Kanye’s story proves that with determination, support, and the right tools – such as those provided by initiatives like MTN’s Go M.A.D campaign – young Nigerians can achieve extraordinary feats and create meaningful change in their communities.

Kanye’s upcoming unveiling of his monumental artwork is not just a personal triumph; it’s a powerful statement about inclusion, perseverance, and the limitless potential of Nigeria’s youth to make a difference.


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