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IDC says manufacturing, transportation sectors will be biggest IoT spenders in 2016.
IoT spending in the U.S. will reach US$357 billion (€313.61 billion) in 2019, up from $232 billion this year.
According to figures published by IDC this week, this increase represents a CAGR of 16.1% between 2015 and 2019.
"We see strong opportunities across many industries," said Marcus Torchia, IoT research manager at IDC, in a statement on Wednesday.
"For example, in highly instrumented verticals like manufacturing and transportation, large data sets are used to optimize operational processes and extend the life of high capital cost assets. In other sectors like healthcare and consumer, IoT technology is being used to produce benefits that improve quality of life," he said.
IDC expects that manufacturing and transportation will be the two biggest industries for IoT investment this year, spending $35.5 billion and $24.9 billion respectively. Cross-industry investment, which represents IoT use cases common to all industries, such as smart buildings, for example, will see investment reach $31 billion this year.
Remote health management, smart grid, and smart home represent the next three largest IoT sectors, IDC said. The fastest-growing sectors over the 2015-2019 forecast period are expected to be in-store contextual marketing, connected vehicles, and insurance telematics.
"The long term opportunity for IoT vendors is helping to identify and create immediate and residual benefits for end users through their technologies," Torchia concluded.
