HOME › Press Releases › China IoT Market worth 121.45 Billion USD by 2022
China IoT Market worth 121.45 Billion USD by 2022
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.
Browse 45 market data Tables and 70 Figures spread through 184 Pages and in-depth TOC on "China IoT Market - Global Forecast to 2022"
Early buyers will receive 10% customization on reports.
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 specially 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).
MarketsandMarkets is the world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India