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Many analysts concede on the projection that, Asia Pacific Internet of Things Market is expected to report highest growth in the years 2017-2023.
Increasing awareness, high penetration of Internet and falling price of sensors and modules, Technological advancements in various countries like China, Japan and India, rapidly growing online population demanding interconnectivity of objects, advanced sensor technologies and evolution of high speed networking technologies and its potential to streamline and deliver greater time and cost savings are and will be the market drivers for growth of Internet of things market in Asia Pacific region.
For those who are unfamiliar, Internet of things refers to networking of physical objects by using embedded actuators, sensors and other devices that can collect or transmit information about the objects. The information collected from these devices is then analyzed to optimize, services, products and operations.