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Internet of things (IoT) Technology Market

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Internet of things (IoT) Technology Market

The IoT technology market is expected to grow at a healthy rate in the coming years. There are many driving factors for this growth, including technological advancements, improving IT infrastructures, growth of 5G communications, rising demand for data centres and cloud solutions, and the rising adoption of wireless sensors in the industry (industry 4.0) and urban infrastructure (smart cities).

 

There are immense growth opportunities for the IoT technology market in the North American and Asia-Pacific regions, especially in key markets like the USA, China, Japan, and South Korea. 

 

The main restraints for the growth of this market include high power consumption by connected IoT sensors/devices and security and data privacy concerns.

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