Published on 20 Oct 2024 on Insider Monkey · via Yahoo Finance
Is Alphabet Inc. (GOOGL) the Best IoT Stock To Buy Now?
We recently compiled a list of the 10 Best Internet of Things (IoT) Stocks to Buy. In this article, we are going to take a look at where Alphabet Inc. (NASDAQ:GOOGL) stands against the other IoT stocks.
The Internet of Things (IoT) is a vast network connecting physical objects to the internet. Industries are embracing IoT technologies for applications like smart manufacturing and supply chain management. Enterprise IoT spending is expected to slow down in the second half of this year due to economic concerns which will affect corporate spending in general. However, corporate spending on IoT will rebound in 2025. The global market for IoT is expected to grow at a rate of 24.3% annually between 2024 and 2032. In 2032, it is expected to reach a value of $4,062.34 billion.