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How New Technology Is Changing Business Models
The Internet of Things (IoT) industry has been the home of intensive innovation and significant transformation over the last few years. Nowhere have those innovations been more impactful than in the business models that those technologies enable. While traditional business models continue to drive significant revenues across the board, there are a range of hybrid and entirely new models that will begin to shape the future of the space. Certainly, the future of the IoT and smart home space is bright indeed, both from a consumer and enterprise standpoint. Analysts at Strategy Analytics have predicted that the potential smart home market will be worth $130 billion by 2020, and continue to grow at a CAGR of 23.48 percent during the period 2016-2020, according to a separate report.
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