Spending on the Internet of Things in CEE will reach $11.2 billion

Spending on the Internet of Things (IoT) in Central and Eastern Europe (CEE) is forecast to reach $11.2 billion in 2018, an increase of 15.5% over 2017, says a new report of the International Data Corporation (IDC). The industries that are expected to spend the most on IoT solutions in 2018 are manufacturing ($2.2 billion), transportation ($1.6 billion), and utilities ($1.2 billion). Consumer IoT purchases will grow faster than the market average, making it the third largest segment in 2018 at $1.2 billion. The leading consumer use cases will be related to the smart home, such as home automation, security, and smart appliances.


“Internet of Things is affecting our lives in tangible ways. Four years ago, we were talking about smartphones. Now we are heading towards smart homes, smart cars, smart cities. IoT becomes an obligatory characteristic for the success of the business. Companies from different sectors – from IT to healthcare and agriculture are investing more and more in IoT, said Albena Spasova, President of the Management Board of the International Cyber Investigation Training Academy.


On May 15, in Novotel Sofia, the International Cyber Investigation Training Academy in partnership with Right Image and with the support of: IDC Bulgaria, VMWare, HPE, Bulgarian Association of Information Technologies, Automotive Cluster Bulgaria, LIBRe Foundation, Eleven Ventures and media partners: Your Business Magazine, information agency BGNES, Technews.bg, Seenews.com and Kaldata.com is organizing the IoT Adventure Forum 2018 (https://iotadventureforum.com).


The IoT Adventure Forum 2018 comes with top industry keynote speakers, six dedicated tracks, case studies, workshops and expo zone, covering the entire Internet of Things ecosystem including smart transportation and cities, developing for the IoT, connected industry, consumer IoT, IoT innovations and technologies and privacy and security.


„With this forum we would like to unveil the curtain and address challenges and identify opportunities within IoT. IoT should be top priority not only for cities and municipalities, but also for governments. Many countries have national IoT strategies. The European Commission is also investing more and more in IoT. In Bulgaria we have many companies developing and implementing IoT as well asmunicipalities that are successfully implementing IoT, said Albena Spasova.


IoT Adventure Forum 2018 will celebrate and recognize the best IoT projects, solutions and startups in five categories:


  • Smart City
  • IoT for Business
  • Consumer IoT
  • IoT Startup
  • Special prize: IoT for Society


Submissions for the competition will stay open until 18:00 of April 30, 2018. An Advisory Board consisting of IoT influencers and prominent experts will evaluate the applications and announce the winners at the Award Ceremony of the IoT Adventure Forum 2018.