According to Gartner, by 2020, the Internet of Things (IoT) installed base, excluding PCs, tablets, and smartphones, will reach 26 billion units, empowering a market worth of $3 trillion. By 2025, the total global worth of IoT technology could be as much as $6.2tr – most from devices in health care ($2.5tr) and manufacturing ($2.3tr). Another analysis estimates that blockchain will add $3.1tr in business value by 2030.
IoT, to put it simply, is a network of interrelated physical objects accessed through the internet. IoT technologies allow data collection, remote monitoring, and the control of devices. The growth of IoT was made possible by a number of significant technological achievements. This connectivityprogress was enabled in part by a breakthrough in the value of sensors and bandwidth as well as inexpensive processing and the development of the most recent version of internet protocol: IPv6.
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