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Unlocking the untapped potential of IoT in utilities

The Internet of Things is already causing waves across both the consumer and business landscapes, with market intelligence company IDC projecting worldwide spending to reach $772bn in 2018 – an increase of 14.6 per cent over the $674bn that spent in 2017.

While the consumer segment is forecast to lead the way in IoT spending over the next three years, the business world isn’t far behind. Utilities is one of a cluster of industries expected to fully embrace and benefit from IoT technologies in the coming years, with an expected global market worth of $890 billion by 2020 according to statistics firm Statista.

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