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Aug 24, 2020 (AmericaNewsHour) —
Internet of Things Market valued approximately USD 171 billion in 2017 is anticipated to grow with a healthy growth rate of more than 23.4% over the forecast period 2017-2025. The global Internet of Things (IoT) market is driven by growth of Wireless Networking technologies, rising adoption of cloud platform, and increasing demand for connected devices. Moreover, other factors such as increasing internet and smart phone penetration across the world, increasing demand for smart electronics are fueling growth in the market.
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The regional paradigm of global Internet of Things Market is dominated by North America which is currently holding 32% of the total revenue share in 2016. Early adoption of technology in various industry verticals is the primary reason for growth. With these developments,