China Internet of Things (IoT) Market

Internet of Things refers to a type of IT infrastructure for the information society that provides advanced services by interconnecting the physical and virtual things, which are based on information technologies. The Internet of Things (IoT) is not just a single technology but is a mixture of software and hardware and allows the physical devices to connect to the internet for collecting and sharing data information. With the accelerating implementation of IoT in every sector, the world around us has become smarter and more responsive by the merging of the digital and physical universes.

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The significant factors contributing to the growth of the China internet of things market include the accelerating adoption of connecting devices and smartphones, followed by the increasing penetration of the internet in the country. In parallel, the emerging implementation of automation in numerous industries and the rising adoption of cloud computing is creating innumerable growth opportunities in the market over the coming years. Focus on developing industry-specific solutions and increasing cross-domain partnerships to build an ecosystem of value is the critical success factor driving the growth of the market. The government is launching various initiatives and raising funds to promote the adoption of the internet of things. These programs have led to the development of transformative and innovative IoT based solutions. Smart city programs are projected to drive most of the IoT market in China, with the industrial & manufacturing sector and healthcare sector generating strong demand. China’s economy is largely adopting digitalization and is increasingly implementing IoT licensed network technologies, which will further energize the growth of the market. On the other end of the spectrum, the complex network infrastructure of IoT and the high consumption of power by the connecting devices are the major two factors that will have a negative impact on the growing demand of the market over the forecast period.

For instance, the government in China has released “Made in China 2025” initiative, aiming to transform China into a center for advanced manufacturing and upgrade the industrial economy by high-tech industries including next-generation information technology, advanced robotics and artificial intelligence, as well as agriculture technologies. This initiative has led to an increase in the demand for the internet of things in China.

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Based on hardware, the memory device segment is anticipated to increase at a higher compound annual growth rate during the forecast period owing to the continuous requirement for the updating of data in the IoT devices. The introduction of low-power consuming and high-performance chips has led to an increase in the memory device’s adoption, thereby driving the market growth of this segment.

On the basis of software, the data management segment is predicted to dominate the Internet of Things market in China. This is attributed to the increasing number of challenges faced by the providers for the management of data efficiently, which in turn, is promoting the usage of these data management software to manage huge amount of data. The data management software provides exceptional advantages to the organizations, such as it helps in identifying errors, make the desired changes as per the situation, manage the unstructured and structured data, and extract valuable insights from an enormous amount of data.

On the basis of the platform, the device management platform is anticipated to grow at a higher CAGR during the forecast period as it allows the organization to maintain, monitor, authenticate, provision, and configure the device firmware and software. Effective device management is essential for maintaining and creating security and effectively connect IoT devices.

Based on services, the managed services are expected to increase at a higher compound annual growth rate during the forecast period. This is attributed to the increasing role of services segment in enhancing the overall customer experience and helping organizations to maintain their positions in the market. The accelerating adoption of digital technology and IT spending on security services are some other factors that are surging the growth of this segment in the market.

Based on application, automotive & transportation segment is projected to lead the market over the forecast period. The strong demand for IoT in the surface transportation system is the key driver of the segment. IoT in automotive enables the evaluation of engine performance, controls the air temperature, and measures the physical health indicators, as well as provide assistance in the monitoring of speed and traffic counting.

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Various notable players operating in the China Internet of Things market include Mediatek Inc., China Unicom (Hong Kong) Ltd., IBM Corporation, Xiaomi Inc., Microsoft Corporation, Huawei Investment & Holding Co., Ltd., China Telecom Corp. Ltd., Qualcomm Inc., Alibaba Group Holding Ltd., and China Mobile Ltd. among others.

Key Market Developments:

• • In 2018, Alibaba and Mediatek Inc. entered into a collaboration for the initiatives of internet of things (IoT), which includes AI smart hardware, smart home protocols, and customized IoT chips. Through this collaboration, the companies aimed to encourage the development of a connected world. The companies also launched the first Smartmesh connectivity solution in China, which supports the many-to-many Bluetooth mesh technology.
  • In 2017, Mediatek announced the launch of the first narrowband internet of things (NB-IoT) System-on-Chip (SoC) and also entered into a collaboration with China Mobile. Through this collaboration, the companies planned the development of the world’s smallest NB-IoT module around the chipset.

China IoT market has been segmented on the basis of category and end-use. Based on category, the market is segmented into device hardware, systems integration, software solutions and network connectivity. Based on end-use, the market is segmented into manufacturing, automotive, agriculture, retail, healthcare, transportation and logistics and others.

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Key questions answered in this research report:

• • At what pace is the China Internet of Things market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the China Internet of Things market? What will be the impact of drivers and restraints in the future?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
  • Which Hardware generated maximum revenues in 2019 and identify the most promising Hardware during the forecast period?
  • What are the various application areas of the China Internet of Things market, and how they are poised to grow?

Market Segmentation

China Internet of Things (IoT) Market by Category

• • Device Hardware
  • Systems Integration
  • Software Solutions
  • Network Connectivity

China Internet of Things (IoT) Market by End-Use

• • Manufacturing
  • Automotive
  • Agriculture
  • Retail
  • Healthcare
  • Transportation and Logistics
  • Others

China Internet of Things Leading market players (Option 1: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Mediatek Inc.
  • China Unicom (Hong Kong) Ltd.
  • IBM Corporation
  • Xiaomi Inc.
  • Microsoft Corporation
  • Huawei Investment & Holding Co., Ltd.
  • China Telecom Corp. Ltd.
  • Qualcomm Inc.
  • Alibaba Group Holding Ltd.
  • China Mobile Ltd.