The Situation

The freight train that is the Internet of Things (IoT) is gaining steam. Machina Research expects the global IoT market to more than quadruple between 2014 and 2024, growing from $900 billion to $4.3 trillion. Within the next eight years, Machina estimates there will be 30 billion connected IoT devices; investment in IoT will be upwards of $1.6 trillion.

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There are a few major trends driving the rapid increase in data traffic on the network. At the top of the list is the Internet of Things (IoT), 5G and the convergence of mobile broadband and media traffic.

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