Internet of things (IoT)-compatible devices have been widely implemented over the last five years and growth in the segment is almost certain to continue. Cisco estimates that the number of connected devices will increase from 16 billion (as of 2015) to 26 billion by 2025. This development has been highly visible in the consumer goods sector, with widespread adoption of activity trackers from companies such as Fitbit and smart thermostats from Nest, Honeywell and others. Use of IoT by businesses for business is increasing dramatically as well. With data becoming one of the most valuable corporate assets for any business, smart devices are adding to the treasure trove.

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