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Story summary
- The global Internet of Things market is projected to grow from $1,425.58 billion in 2024 to $5,372.46 billion by 2034, a 14.1% CAGR.
- North America leads the market due to its technological infrastructure and investment in IoT solutions.
- Asia Pacific shows the fastest growth, driven by industrial modernization and smart city initiatives.
- Amazon and IBM are expanding services and strengthening security measures, while privacy concerns and high costs remain challenges.
