According to the new market research
report “China IoT Market by Hardware (Processor, Memory, Logic,
Sensor, & Connectivity), Software (Real-Time Streaming, Network Security,
Data Management, Remote Monitoring, & Bandwidth Management), Platform,
Service, and Application - Global Forecast to 2022”, the China IoT market is
expected to reach USD 121.45 Billion by 2022, at a CAGR of 41.1% between 2016
and 2022. The major factors driving this market are the growing demand for
smartphone and other connecting devices, the increasing internet penetration,
rising trends of industrial automation, and mainstream adoption of cloud
computing.
Agriculture application expected to grow at
the highest CAGR during the forecast period
With the advent of IoT in agriculture, famers
or growers can remotely access the field, crop, or land and apply the right
amount of fertilizers or nutrients at the right place. It helps minimize the
wastage of agricultural resources such as irrigation water, soil, fertilizers,
and others and also helps achieve enhanced productivity and higher yield. IoT
helps in maintaining safety in food production as it provides information on
the ingredients of food packaging. The growing demand for enhanced agriculture
production is expected to drive the China IoT market.
Device management platform to hold the largest
market and witness the highest CAGR during the forecast period
The device management platform is expected to
hold the largest market and to grow at the highest CAGR during the forecast
period. This growth is attributed to the fact that organizations
using IoT devices require applications and platforms to manage the information
and applications.
Connectivity ICs to hold the largest market
share by 2022 and experience rapid growth during the forecast period
The market for connectivity ICs is expected to
hold the largest share of the China IoT by 2022. Connectivity IC’s help connect
a large number of devices with each other and the Internet. In the China IoT
market, there are a growing number of companies providing low-power wireless
network connectivity especially for IoT applications.
The report profiles major players in the China
IoT market including hardware providers such as Xiaomi Inc. (China), Qualcomm
Incorporated (U.S.), MediaTek Inc. (Taiwan), and Huawei Investment &
Holding Co., Ltd. (China); network providers such as China Mobile Limited (Hong
Kong), China Unicom (Hong Kong) Ltd. (Hong Kong), and China Telecom Corporation
Limited (Beijing); and software providers such as International Business
Machines (IBM) Corporation (U.S.), Microsoft Corporation (U.S.), and Alibaba
Group Holding Ltd. (China).
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