The term Internet of Things (IoT) describes a network of physical and virtual devices that are able to communicate autonomously with each other using the Internet Protocol (IP). The Internet of Things market contains important applications of IoT technologies. These include Smart Home technologies and Smart Finance technologies. Each category is segmented into pure IoT revenues from dedicated hardware, platforms, services, and connectivity.
Market values represent pure IoT revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.