mickey: The reference in your post is to an old, outdated IDC report. Below are some comments (amounts) from newer IDC reports, which appear to have substantially reduced the projected future amount.
Nov 7,2014. A newly released IoT ecosystem forecast from International Data Corporation (IDC) provides much needed clarity, defining the hardware, software, services, connectivity, and security that make up the evolving IoT ecosystem. The worldwide IoT market is forecast to grow from $1.3 trillion in 2013 to $3.04 trillion in 2020 with a compound annual growth rate (CAGR) of 13%.
According to a new International Data Corporation (IDC) Spending Guide, worldwide spending on the Internet of Things (IoT) will grow at a 17.0% compound annual growth rate (CAGR) from $698.6 billion in 2015 to nearly $1.3 trillion in 2019.
IDC periodically issues updated reports on their worldwide IoT market outlook. These reports are priced at $4,500. For those interested in seeing the actual report cited in your post, a copy is available at: