China Internet of Things Market Research Report

technology | Arif

Sep 12, 2021

China Internet of Things Market by Hardware and by Application

 

The GMI Research predicts that the China Internet of Things Market will perceive an accelerating demand over the forecast period. This is because of the initiation of innovation IoT-based solution, ongoing technological developments, rising favourable and strategic initiatives by the government of various counties as well as the amplifying allowances and their potential to sustain, administer, certify, and configure the software.

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Introduction of the China IoT Market

Internet of Things is a kind of IT infrastructure used to proffer sophisticated services by connecting the manual and virtual things based on information technologies. It is not a single technology but is a combination of software and hardware enabling the physical devices to bind to the internet to accumulate and share data information. In other words, the increasing usage of Internet of things across every industry has made the world more intelligent and responsive through the collaboration of digital and physical environment.

Key Players of Market:

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

China IoT Market Dynamics

The accelerating penetration of connected devices, seepage of the internet, and smartphones is elevating the growth of the China internet of things market industry size. In addition, the increasing execution of mechanization across several industries and the acquisition of cloud computing is paving the market growth. Besides this, the government across various countries has introduced enormous initiatives to encourage the endorsement of the internet of things. For example, the Chinese Government declared a "Made in China 2025" initiative focussing on modifying China into a hub for progressive manufacturing and upgraded industrial economy by high-tech industries such as modernized robotics and artificial intelligence, next-generation information technology, and agriculture technologies. Furthermore, the emphasis of various emerging countries to launch industry-specific solutions and cross-domain mergers to develop a valuable environment, which is another factor propelling the internet of things market growth.

Additionally, as per the market research report, the increasing implementation of internet of things licensed network technologies because of the swift digitalization throughout the nation, as well as the acceleration in smart city initiatives, have bolstered the market growth. On the other hand, as per the China Internet of Things (IoT) Market Forecast, the complicated infrastructural network and excessive power consumption by connecting devices are projected to hinder the market share.

Hardware Segment Drivers

Based on hardware, the memory device is contemplated to witness faster growth over the forecast period. The persistent need to update data in the IoT devices and the initiation of less energy-consuming and better performance chips has stimulated the adoption of the memory device's thereby driving the China IoT Market Size.

Software Segment Drivers

As per the software segment, data management is speculated to lead the market with the highest market share in the near future. This is mainly because of the compounding number of obstacles faced by the contributors for the administration of data effectively, which in turn, is encouraging the application of these data management program to control massive amount of data. In addition to it, the data management software proffers beneficial advantages to the enterprises, which includes its assistance in recognising errors, fabricate the appropriate changes according to the situation, oversee the structureless and structured data, and extricate priceless perceptions from extensive data. Thus, all this together is encouraging the internet of things market growth.

Platform Segment Drivers

The device management platform, as per the platform segment, is contemplated to witness a higher Compound annual Growth Rate during the coming period. This is because of their potential to allow organization to sustain, supervise, validate, provision, and frame the firmware and software of devices. Besides this, the efficient device management is required to perpetuate and generate security and productively connect Internet of Things devices which further impels the market growth.

Services Segment Drivers

On the basis of services segment, the managed services are expected to increase at a remarkable rate in the market during the coming years. This is crucially owing to the exacerbating function of services segment to aggrandize the overall customer experience and assisting organizations to retain their positions in the market. Furthermore, the ameliorating espousal of digital technology and IT expenditure on safety services are other factors likely to provide enormous growth opportunities for the market growth.

Application Segment Drivers

Based on application, automotive & transportation are projected to dominate the market over the coming years. The rigorous demand for IoT, primarily in the surface transportation system and the evaluation of engine performance with the control of air temperature and assistance in administering the speed, has supplemented the market growth.

China Internet of Things Market Segmentation:

Segmentation by Hardware
  • Sensor
  • Pressure Sensor
  • Image Sensor
  • Heart Rate Sensor
  • Temperature Sensor
  • Flow Sensor
  • Others
  • Memory Device
  • Connectivity IC
  • Bluetooth
  • Near Field Communication
  • Bluetooth Low Energy
  • Wi-fi
  • Zigbee
  • Others
  • Processor
  • Application Processor
  • Microcontroller
  • Digital Signal Processor
  • Logic Device
Segmentation by Software
  • Remote Monitoring System
  • Real-Time Streaming Analytics
  • Data Management
  • Application & Network Security
  • Network Bandwidth Management
Segmentation by Platform
  • Application Management Platform
  • Device Management Platform
  • Network Management Platform
Segmentation by Services
  • Professional Services
  • Managed Services
Segmentation by Application
  • Automotive & Transportation
  • Consumer Electronics
  • Healthcare
  • Industrial
  • Agriculture
  • Building Automation
  • Oil & Gas
  • Retail
  • Others

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