Angus Loten: IT Spending Cuts Spare the Internet of Things

The shaky economy and uncertain global markets are taking a toll on corporate IT spending, resulting in slashed technology budgets and job cuts, as CIO Journal reported Monday. Across the board, IT spending had already dropped by 5.8% by the end of 2015, compared to a year earlier, according to researcher Gartner Inc.

Yet despite the cuts, Gartner predicts global spending on the Internet of Things to jump by 22% in 2016, to $235 billion. It expects the bulk of the gains to be driven by business spending on external services to design, install and operate IoT systems