IoT (Internet of Things) is defined as the connection between any of the physical objects with network. Smart home is the most popular example consumer IoT.
The rising number of internet users & adoption of smart devices, growing awareness about fitness & growth in disposable incomes in developing economies are boosting the growth of the market. Government funding in R & D related to IoT is the key opportunity of the global consumer IOT market.
Consumer preference for improved convenience & better lifestyle, the growing significance of home monitoring from remote locations, and government rules for security of IoT devices are also propelling the growth of the global consumer IOT market. However, risks of data privacy, breaches associated in data security are limiting the growth of the market.
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