According to the document, the Internet of Things (IoT) market is growing rapidly. In 2016 there were over 6.4 billion connected devices and investments in smart home technologies are expected to reach $63 billion by 2020. The IoT market in Brazil was valued at $1.35 billion in 2016 and is predicted to reach $3.29 billion by 2021, representing significant growth. Key sectors for IoT growth include automotive, utilities, agribusiness, and manufacturing.