Big data & the Internet of Things to add £322BN to UK economy by 2020

Big data and IoT will boost the economy by double the amount that is currently spent on education, NHS and defence budgets, according to research.

Big data analytics and the Internet of Things (IoT) are expected to add £322 billion to the UK economy from 2015 to 2020, according to new research by the Centre for Economics and Business Research (Cebr).

This is twice the size of the combined education, NHS and defence budgets for 2014-15, and 22% of the UK?s net public debt (circa. £1.5 trillion in 2014-15).

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