China IoT market is expected to witness a significant growth with the CAGR of approximately 22.7% during the forecast period. China is estimated to be the leading IoT market in Asia Pacific region. The market size of the China’s IoT market is estimated to be $56.4billion in 2017. The IoT in the appearance of the “Internet Plus” part of “Made in China 2025” plan is considered as a big deal in an economy has vast potential. Increasing number of smart phone users in China is one of the major factors that is driving the growth of the market.
Rising investments from telecommunication companies has been one of the major factors driving the market growth. For instance, China’s telecom companies made a big announcement to invest about $180 billion from 2015 to 2017 in both fixed-line and wireless connectivity. The cloud computing acts as a strategic priority for government and it has been included it in the nation’s 12th Five-Year Plan. Moreover, the National Development and Reform Commission (NDRC) launched pilot cloud schemes in collaboration with Ministry of Industry and Information Technology. These schemes were implemented in five cities including Beijing, Hangzhou, Shanghai, Shenzhen and Wuxi.
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China IoT market is segmented on the basis of infrastructure, vertical, and application. Based on the infrastructure, the market is segmented into platform, mobile networks and access technologies, cloud solutions/storage and processing, analytics, and security. Based on the vertical, the market is segmented into healthcare, energy, public & services, transportation, retail, individuals, and others (manufacturing). Healthcare segment includes health, pharmaceuticals segment, and biotechnology. Public & Services includes government, BFSI, others (hospitality and entertainment).transportation segment include aerospace, automotive, rails and systems, and marine. Further, based on the infrastructure, the market is segmented into smart home, smart wearable, smart cities, smart grid, industrial internet, connected cars, connected healthcare, and others (toys and drones).
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China IoT Market Segmentation
By Infrastructure
· Platform
· Mobile Networks and Access Technologies
· Cloud Solutions/Storage and Processing
· Analytics
· Security
By Vertical
· Healthcare
· Health
· Pharmaceuticals Segment
· Biotechnology
· Energy
· Public & Services
· Government
· BFSI
· Others (Hospitality and Entertainment)
Transportation
· Aerospace
· Automotive
· Rails And Systems
· Marine
· Retail
· Individuals
· Others (Manufacturing)
By Application
· Smart Home
· Smart Wearables
· Smart Cities
· Smart Grid
· IoT Industrial Internet
· IoT Connected Cars
· IoT Connected Healthcare
· Others (Toys And Drones)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
