A new report claims that Federal Agencies are spending more money on the internet of things and sensor-driven technology than anything else.
NASA uses a number of connected devices and sensor network to observe various patterns on space and earth. Joining the same league, country’s Homeland Security Department uses the same network for keeping an eye on the national border, while Pentagon helps federal soldiers to get situational awareness with the aid of internet of things.
Research Analysis firm Govini conducted a study, which revealed that the government spent over $8.8 billion on the internet of things technology in fiscal 2015. Defense expenses shared the maximum share of this amount. It’s 20% more than what the government spent in the fiscal year 2014. If both the years are compared, one can notice that the expenses related to sensor technologies have increased 56% while cloud storage costs have surged 48%.
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Out of all the expenses on sensor technologies, 88% have been made in the last four years. Large contractors, such as Raytheon, BAE Systems, Lockheed Martin and Northrop Grumman covered a significant part of the internet of things supply. Going forward, these expenses may notice a further hike. More details can be found here.