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As the smartphone and tablet markets saturate and mature, device vendors and consumers are looking toward new smart connected devices that will expand the frontiers of usefulness and entertainment value, while driving growth for device vendors, software developers, software vendors and other adjacent market sectors. While “wearables,” portable devices that often interface with users’ smartphones, have attracted the greatest attention, TBR believes the larger potential market is in fixed devices in the home. The leader in this category is the Nest thermostat, offered by the Nest Labs, now a subsidiary of Google. We think the consumer IoT will complement and often lead the commercial IoT, and together, they will fuel a wave of innovation and expansion in all segments of IT.