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Pensonic eyes IoT market


Group chief executive officer Dixon Chew told StarBiz that it has become necessary for the company to explore this area because of the growth potential over the next five years. He said the IoT market was expected to grow on a compounded annual growth rate of about 15% per annum over the next five years.

Group chief executive officer Dixon Chew told StarBiz that it has become necessary for the company to explore this area because of the growth potential over the next five years. He said the IoT market was expected to grow on a compounded annual growth rate of about 15% per annum over the next five years.

GEORGE TOWN: Electrical and electronics manufacturer Pensonic Holdings Bhd is exploring the potential of the Internet of Things (IoT) business, and has put in place a five-year business plan besides joining an IoT consortium.

According to Cisco Systems Inc, a US technology company, the IoT market could be worth up to US$14 trillion by 2022.

   

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