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The Internet of Things (IoT) is becoming increasingly popular due to advances in technology such as lower power chips, better connectivity, and AI and ML. A McKinsey report projects that by 2030, IoT products and services will create between $5.5 trillion and $12.6 trillion in value. However, there are complexities that come with developing IoT solutions, such as developing sensing devices and generating insights. The semiconductor shortage and supply-chain disruptions caused by the coronavirus pandemic are also impacting suppliers and manufacturers.
