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The high penetration and usage of internet is one of the primary reasons behind the stupendous growth of the IoT or internet of things market. The market is anticipated to witness a high growth in the years to come on account of the growing number of low cost, smart connected devices such as media players, portable navigation device, and imaging devices. Organizations across the globe are implementing IoT solutions to optimize their processes and enhance their business efficiency.

A key trend, which is being observed in the market currently is the high demand for big data analytics as healthcare, manufacturing, energy and utilities, and transportation industries integrate analytics with IoT to gain insights on their data which is stored. IoT integrated with analytics offers the transfer of real time data seamlessly between networks and machines, enabling efficient management of humungous amount of data. The need to monitor and analyze data is expected to ensure a continued growth of the IoT market. Asia Pacific is currently leading in the IoT market and is expected to continue to retain its position on account of increased investments for the development of infrastructure and the adoption of advanced technologies.