Internet of Things revenue is projected to spike big time next year, growing 116 percent and hitting the $2 billion dollar mark.

The top activity, according to MachNation’s "IoT Application Enablement Platform ScoreCard for 2016," is within the smart homes, smart cities, industrial, manufacturing, healthcare, retail, automotive and transportation segments.

"The IoT application enablement space is the most rapidly developing piece of the IoT technology stack," said Dima Tokar, co-founder and CTO, MachNation, in a press release. "There are many choices out there, but there is a big difference between the strongest and weakest vendors in the market."