American shoppers will have to pay between $1.6 billion and $3.2 billion more for connected devices such as gateways, modems, routers, smart speakers, smartwatches and other Bluetooth enabled products.

A revolution has occurred. Those with a view of major developed economies over the last roughly twenty years say it happened “quietly,” as the businesses of these economies began investing more in intangible assets—such as design, branding, research and development, and software—than in tangible assets, like machinery, buildings, and computers. 

With negligible hardware advances, the growing condition monitoring software and analytics segments help maintain revenues.