IoT: What is The Internet of Things?

With the Internet of Things (IoT) market growing, demand for IoT solutions and services is on the rise. This increase in demand from the market comes in response to a growing number of use cases for IoT (IoT Services Global Market Report 2021). In a report from McKinsey, the estimated economic value of IoT is between $5.5 trillion and $12.6 trillion worldwide, with IoT spending predicted to grow at a rate of 26.7% per year by 2021 and beyond.

IoT is a rapidly growing market, so it's important to understand what it is and how it works. The aim of this article is to explain what IoT is, in simple terms, and outline the phenomenon.

IoT - What is it and how does it work? 





01 February 2022