Global Internet of Things (IoT) spending will grow at a CAGR of 17 per cent from $698.6 billion (€638 billion) in 2015 to nearly $1.3 trillion in 2019, according to latest projections from IDC. On a geographic basis, Asia-Pacific is the clear leader when it comes to IoT spending with more than 40 per cent of the worldwide total coming from this region in 2015. The research company further noted that North America and Western Europe are the second and third largest regions respectively, with combined spending of more than $250 billion in 2015. The regions that will experience the fastest growth in IoT spending over the five-year forecast period are Latin America (26.5 per cent CAGR), followed by Western Europe, and Central and Eastern Europe. Release