The Internet of Things (IoT) is a network of physical devices, vehicles, home appliances and other items embedded with electronics, software, sensors, actuators and connectivity which enables these things to connect and exchange data.

IoT requires inter-networking infrastructure as well as endpoints – the objects or ‘things’ themselves. The estimated value of IoT will be $7 trillion by 2020.

The Industrial Internet refers to the extension of the Internet into manufacturing systems such that machines can communicate with each other in real time without human intervention using sensors and actuators. It is expected to have an impact on industry productivity similar to that achieved by earlier general purpose technologies like steam power during the industrial revolution

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