Priceonomics Data Studio: The IoT Data Explosion: How Big Is the IoT Data Market?

A decade ago, it likely seemed unthinkable that our refrigerators could tell us when we were running low on milk, our doorbells could record our visitors, and our audio speaker system could also “accidentally” order toys online. And yet, here we are in the era of the “Internet of Things”, sometimes abbreviated as IoT, where these sorts of devices have exploded in popularity and are literally everywhere.

The Internet of Things typically refers to adding network connectivity to everyday objects or devices that previously were not internet-enabled. As Tony Fadell, founder IoT trailblazing company Nest commented, a hallmark of the Internet of Things space is to work on “unloved” and sometimes “utilitarian” devices (think smoke detectors, doorbells, and other sensors) and add never-before-possible functionality via network connectivity.

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