The valuation of the global Internet of Things (IoT) market is expected to hit $1.88 trillion (£1.25tn) by 2022, according to an analyst note from Hexa Reports. Growth in the Internet of
Things (IoT) market is expected on account of a rise in internet connectivity and the pervasiveness of technology. Additionally, the venture-capitalist investments of technology companies in industry
startups have created new opportunities of growth in the market. Industry growth is also set to be driven by the falling costs of internet enabled sensors, internet connectivity, and data processing.
Additionally, futuristic concepts such as connected wearable devices, connected vehicles, connected homes, connected cities, and the Industrial Internet of Things (IIoT) are set to provide new markets
over the next seven years.
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