Internet of things (IoT) is one of the disruptive technology, positively impacting industries by helping them monitor and optimize overall business processes and enhance customer’s experiences.
In layman terms, IoT is a complex network of low-cost but advanced sensors & actuators for data collection, monitoring, decision making, and process optimization. Where except for data collection, all the other processes can happen either locally at the device level or on the cloud with or without user interference.
As per the McKinsey Global Institute, insights on disruptive technology, by 2025, IoT has an estimated potential economic impact of $ 6.2 trillion annually from sized applications.
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