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The statistic presents the spending on "Internet of Things" as a percentage of company revenue worldwide as of May 2015, by industry sector. The value of spend of the global insurance industry on "Internet of Things" constituted *** percent of the insurance companies' revenues.

Internet of Things – additional information

The “Internet of Things” (IoT) is a term used to describe the digital hardware and software that is embedded in gadgets from cameras to coffee makers and those digitally connected ‘things’ that use the internet and wireless communication networks. As of ***, most spending on the Internet of Things as a percentage of company revenue occurred within the travel, transportation and hospitality sector, but significant spending also occurred within industrial manufacturing, media and entertainment and of course telecommunications.

Investing company revenue in the IoT, has been and is projected to generate significant revenue in the future. In 2020, IoT is expected to generate *** billion euros in global revenue and the number of connected devices worldwide will exceed ** billion. The IoT market is growing fast and in 2014 it was already worth billion U.S. dollars.

The IoT trend and its impact on products and services will also ultimately shape the products and services of the future and many companies are hoping to achieve greater accessibility to information, increased customer satisfaction and lower costs among other gains by capitalizing on IoT. It seems like “smart” things will be a much larger part of our lives in the future.