- [Instructor] IoT market is basically the places
where IoT systems are used, physical or virtual,
and what fuel the development of the new IoT applications.
The market for IoT is global.
Here are a couple of the common players
that contribute to its growth:
Commercial and retails, research and academia,
government and utilities, and business and innovation.
One of the common examples of IoT in retails
is e-commerce or online shopping.
In retails, an example of using IoT solution
is enabling a full and easy shopping experience
for customers by using different user-friendly apps
and providing smart payment solutions.
Using IoT not only improves operational efficiency,
but also enhances the customer experience
to gain competitive advantages.
The IoT in commercial market has two categories:
online and offline.
The online, like the different apps and websites,
used for online shopping.
The offline includes manufacturers
producing smart appliances, building automation devices
and personal devices.
Research and academia contribute to IoT market.
Research means creating the theories,
new products and materials for IoT growth.
The research can be done within academia or research centers
within government and companies.
In academia, IoT has been implemented
in the form of e-learning.
Many educational institutions now use online teaching,
and many programs are now fully done online.
Online courses outside academia,
like the one you're currently taking on LinkedIn Learning,
is also part of IoT markets.