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China and India will have a particularly large effect
A new report has forecast that the Asia Pacific region will play a major part in the growth of the Internet of Things. Between now and 2023, the industry is expected to reach 724 billion US dollars, up from under 600 billion US dollars in 2015. With the growth equalling 13% each year, it is reported that Asia will be responsible for 36% of the growth, with North America taking 24% of the share. The report points to high-investment initiatives launched in both China and India as having a large effect on the report’s findings.
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