The market size of the Internet of Things is expected to reach $7.1 trillion by 2020, according to IDC. The Internet of Things (IoT) will connect formerly unconnected "things" to the Internet (think cars, shipping containers, livestock, etc.) so that they can collect and analyze data and automate systems. 

Major technology companies like Apple, AlphabetMicrosoftIntel, and many others have already moved into the space. But the big players aren't the only ones that will benefit from the IoT. Sierra Wireless (NASDAQ:SWIR) is a small-cap company that's already established itself as a leader in the IoT space, and it has plenty of room to grow. Click on the slideshow below to find out why Sierra Wireless is leading the competition, how the company's currently performing, and the risks investors should look out for. 

Chris Neiger has no position in any stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A and C shares), Apple, Qualcomm, Sierra Wireless, and Tesla Motors. The Motley Fool owns shares of Microsoft. The Motley Fool recommends Intel. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.