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The Internet of Things (IoT) is a rapidly growing field that has the potential to revolutionize the way we interact with technology. IoT refers to the network of physical objects connected to the internet that can communicate with each other and share data. IoT software is an integral part of this ecosystem, enabling devices to communicate with each other and with cloud-based platforms. This article explores the various types of IoT software, the development process, and what affects IoT software development costs. Additionally, it looks at the most promising sectors for IoT software development, such as manufacturing, healthcare, transportation, and smart homes and buildings.