Why do many lead with the "smart refrigerator" as the poster child for IoT? A smart appliance requires a "smart consumer" which makes it a niche market at best.
What's different now? Cheap sensors, cheap modems (wired and wireless), cheap broadband connectivity, remote (i.e., cloud) intelligence?
When you put everything in the "IoT bucket" of course it's going to be a multi-trillion dollar market. It's analogous to tire manufactures including the price of vehicles in their market size calculation.
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