The Internet of Things (IoT) is gaining traction amid the global digital transformation. With favorable government policies and breakthrough technical advancements, we think IoT companies Cisco Systems (NASDAQ:), Emerson Electric (NYSE:), NXP Semiconductors (NASDAQ:), and PTC Inc. (NASDAQ:) should grow substantially in the coming months. Let’s discuss.
The internet of things (IoT) is one of the major drivers of the fourth industrial revolution, with significant advances made in the fields of machine learning (ML) and artificial intelligence (AI). IoT has vast implications for industries, devices, data analytics, and processing. As a result, the IoT market is expected to grow at a 25.4% CAGR to $1,854.76 billion by 2028.
The global semiconductor shortage is a significant hindrance to the IoT industry’s growth. However, a $250 billion bipartisan manufacturing and technology bill aimed at boosting chip production should address such barriers.
Hence, popular IoT-centered stocks Cisco Systems, Inc. (CSCO), Emerson Electric Co. (EMR), NXP Semiconductors N.V. (NXPI), and PTC Inc. (PTC) are expected to gain substantially in the coming months.
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