Technological Advancement In Communication Sector Is Envisioned To Bolster The Growth Of Internet Of Things (Iot) Market, According To Research Nester
“ Internet of Things (IoT) Market: Global Demand, Growth Analysis & Opportunity Outlook 2023” Global internet of things (IoT) market is segmented into product type such as components and software. Among these segments, components segment is expected to occupy the top position in the market. Riding on the back of factors such as advancements in electronics components, decreasing prices of electronic devices, raising personal disposable income of the population and setup of smart cities, IoT market is anticipated to witness greater number of connected devices in near future. Further, the demand for IoT devices is increasing due to their high end connectivity and multiple options of connection via wireless services. The advancement in IoT devices such as wireless switch plugs, smart watches and bands, smart glasses and others are gaining momentum among the tech savvy population. The global internet of things (IoT) market is expected to register a 17.56% CAGR over the forecast pe