The Internet of Things is on the rise, creating a new multi-billion dollar market. Our graphic illustrates the projected growth. According to the University of Jyväskylä in Finland, the total market could reach around US$1.8 trillion by 2020. Machine-to-machine devices would account for the largest share, generating approximately US$950 billion in revenue. In 2013, this figure was around US$225 billion. Consumer electronics currently remains the top segment, but the Finnish university predicts that growth in this area will be lower.
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