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BlackBerry to leverage Internet of Things market growth

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BlackBerry announces its IoT platform

At the most recent Consumer Electronics Show in Las Vegas, BlackBerry (BBRY) announced that it’s jumping on the IoT (Internet of Things) bandwagon. BlackBerry’s interest in the IoT began with Project Ion that the company launched in May 2014.

IoT involves wireless devices that are connected to one other through the Internet. For example, home devices such as air conditioners, washers, and refrigerators could be connected. Security systems such as alarms and cameras, and energy devices such as thermostats could also be part of the IoT.

The IoT market includes connected devices used in the automotive and healthcare sectors. During the show, BlackBerry said that its IoT platform will be powered by QNX technology, which we looked at previously in this series.

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Tech players investing in IoT market to leverage growth

The IoT market is thought to be one of the next big growth areas in the tech sector. According to a report from Semico Research, and as the chart above shows, IoT-connected devices are expected to increase from 13 billion in 2014 to 35 billion in 2020.

To leverage this growth potential, many tech players are investing in IoT. In December 2014, Cisco (CSCO) announced that it would develop software to analyze data from connected devices. Also in 2014, Google (GOOG)(GOOGL) made one of its largest acquisitions yet when it bought out the maker of smart smoke detectors, Nest Labs, for $3.2 billion.

Meanwhile, Qualcomm (QCOM) acquired UK semiconductor company CSR for $2.48 billion. CSR specializes in making chips that go into connected devices. And recently, Apple (AAPL) introduced new applications such as HomeKit to connect devices. For more on this, read Apple’s entry into new markets could maintain its stock momentum.

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