About the IoT Market in China
The IoT technology helps connect any device to the internet. Devices such as smartphones, household appliances, and wearable devices can be part of the IoT ecosystem and can be controlled through the internet. The IoT works as the core of modern concepts such as smart homes, smart shopping, smart transportation, and smart healthcare. The IoT has started to scale and deliver real changes across the Chinese economy. The nation is becoming a global leader in adopting the IoT and is firmly establishing itself as the manufacturing hub of the world with the help of the technology. Chinese manufacturers are rapidly adopting new technologies such as 3-D printing, robotics, and artificial intelligence and enabling local players from China to strengthen their economic and global footprints
Technavio’s analysts forecast the IoT market in China to grow at a CAGR of 18.99% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the IoT market in China for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of IoT components, which include connected devices equipped with radio frequency identification (RFID) and near-field communication, sensors, gateways, networking components, supervisory control and data acquisition, and complex event processing.
Technavio's report, IoT Market in China 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – IoT Market in China 2016-2020
Technavio recognizes the following companies as the key players in the IoT market in China:
Other Prominent Vendors in the market are: Broadlink, Gizwits, Ayla Network China, Lifesmart, Yeelink, Landing Technology, Orvibo, MXchip, and Phantom.
Commenting on the report, an analyst from Technavio’s team said: “A trend which is propelling market growth is the expansion of the semiconductor industry. The IoT is one of the big drivers of the semiconductor industry. Due to the growth of the IoT in the automotive and industrial markets, the demand for semiconductors is increasing. China alone consumes 56.5% of the semiconductor chips manufactured across the world. The country will continue to expand its semiconductor leadership and increase its market share during the forecast period.”
According to the report, a key growth driver is the growing role of Chinese mobile operators in IoT. During 2014-2015, 4G mobile networks started to replace 3G in China, and most of the smartphone manufacturers' product lines switched to 4G. By the end of 2015, the 4G mobile phone market had produced more than 95 million smartphones, representing about 20% of the mobile phone market in China. The 4G mobile networks offer better internet speeds to handheld devices. This enables the hassle-free operation of IoT solutions from remote locations.
Further, the report states that one challenge that could restrict market growth is the growing complexity of the IoT infrastructure.
Other Prominent Vendors in the market are: Broadlink, Gizwits, Ayla Network China, Lifesmart, Yeelink, Landing Technology, Orvibo, MXchip, Phantom.
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