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The Internet of Things Market in China is part of Netscribes’ Information Technology Industry Series reports. The market will be boosted by the huge industry applications coupled with widespread adoption of internet in China.
The report begins with the definition of Internet of Things (IoT) and its key characteristics followed by a basic structure of IoT. A clear distinction between Internet and IoT is also demonstrated followed by an illustration on the network and evolution of IoT alongwith its everyday applications.
The market overview section provides the domestic market size and growth potential of IoT for the period 2010-2020. Furthermore, the report identifies major IoT hubs alongwith those cities having strong growth potential in the context of IoT in China. In addition, the report delves into the sectors of focus having IoT relevance in China followed by the advantages and disadvantages of IoT.
Key factors driving the growth of IoT market in China include industry applications, rise in use of smartphones, widespread usage of internet, cost reduction, infrastructural advantage, and supply and demand drive.
The report finds that Chinese industries using mature sensor technologies will boost the domestic IoT market. China had witnessed intense IoT applications in the domains such as ITS, smart manufacturing, agriculture, smart grid and healthcare. Smartphones sales in china is estimated to rise to 137 mn units by the end of 2012 while internet population in China is estimated to rise by 17% during 2007-15 which will further drive the domestic IoT market. Inverse relation between price of sensing and use of sensory devices attracts clients to use more sensing applications. China’s IoT market is also driven by its infrastructural advantage coupled with strong supply and demand cues.
Players operating in the market also face challenges which are impeding their development and growth. Major challenges identified in the report include lack of unified standards, safety & privacy concerns, high application cost, and lack of understanding IoT.
The report finds that lack of unified standards in China’s IoT market hinders the industrial cooperation. Furthermore, privacy protection must cover technical solutions, as well as regulatory, market-based and socio-ethical consideration as security concerns increases among consumers. High costs of sensors or RFID tags coupled with lack of understanding of IoT impedes growth prospects.
The report highlights key initiatives taken by the China Central Government and China's Ministry of Finance for the development of domestic IoT market. The section also provides a layout of the IoT investment focus according to the 12th Five Year Plan of China.
Key trends in the IoT market include industry growth led by applications, emerging integrated platforms and emerging business models.