They don’t call it the “Internet of Everything” for nothing. These days, almost every product is eligible to become part of the Internet of Things (IoT)—from the electric toothbrush to the jet engine. The addition of internet connectivity has become a key ingredient of a new generation of “smart products,” i.e., devices that combine sensing, processing, and communications capabilities with internet-based services and applications. The world’s leading businesses are rushing to offer these smart IoT products to gain an edge over the competition. Because of this, the total available market for IoT devices is expected to double during the next three years, rising to about 1.6 billion units in 2019, up from 800 million in 2016, according to a forecast compiled by Cypress Semiconductor.