The Internet of Things (IoT) is a network of physical objects equipped with technology to sense and communicate, significantly altering decision-making processes. By 2020, IoT is projected to reach 26 billion units, contributing an estimated $15 trillion to global GDP by 2030, and potentially saving governments $4.6 trillion in the next decade. Key applications include connected vehicles, health monitoring, and retail inventory control, demonstrating extensive implications across various sectors.
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