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Consumer products, durable goods, cars and trucks, industrial and utility components, sensors, and other everyday objects are being combined with Internet connectivity and powerful data analytic capabilities that promise to transform the way we work, live, and play. The Internet of Things (IoT) refers to the use of intelligently connected devices ranging from thousands of sensors in remote locations to data mining in cloud, IoT creates new unique possibilities for products and services. Internet of Things is rapidly becoming more mature and is ubiquitous. The Internet of Things is an emerging topic of technical, social, and economic significance.
The technology has evolved from buzz word to something more substantial, creating real value for businesses. Projections for the impact of IoT on the Internet and economy are impressive, with some anticipating as many as 100 billion connected IoT devices and a global economic impact of more than $11 trillion by 2025.