Strong Govt Support Fuels Growth of Internet-of-Things Market in China, States Netscribes08 May 2012 • by Natalie Aster
Key factors driving the growth of IoT market in China include industry applications, rise in use of smartphones, widespread usage of internet, cost reduction, infrastructural advantage, and supply and demand drive.
China had witnessed intense IoT applications in the domains such as ITS, smart manufacturing, agriculture, smart grid and healthcare. Smartphones sales here are estimated to rise to 137 mn units by the end of 2012 while internet population in China is estimated to rise by 17% during 2007-15 which will further drive the domestic IoT market. Inverse relation between price of sensing and use of sensory devices attracts clients to use more sensing applications.
The new report “Internet of Things Market in China 2012” by Netscribes finds that Chinese industries using mature sensor technologies will boost the domestic IoT market. China’s IoT market is also driven by its infrastructural advantage coupled with strong supply and demand cues.
The report begins with the definition of Internet of Things (IoT) and its key characteristics followed by a basic structure of IoT. A clear distinction between Internet and IoT is also demonstrated followed by an illustration on the network and evolution of IoT alongwith its everyday applications.
Internet of Things Market in China 2012
Published: April, 2012
Price: US$ 795,00
The market overview section provides the domestic market size and growth potential of IoT for the period 2010-2020. Furthermore, the report identifies major IoT hubs alongwith those cities having strong growth potential in the context of IoT in China. In addition, the report delves into the sectors of focus having IoT relevance in China followed by the advantages and disadvantages of IoT.
Players operating in the market also face challenges which are impeding their development and growth. Major challenges identified in the report include lack of unified standards, safety & privacy concerns, high application cost, and lack of understanding IoT.
The report finds that lack of unified standards in China’s IoT market hinders the industrial cooperation. Furthermore, privacy protection must cover technical solutions, as well as regulatory, market-based and socio-ethical consideration as security concerns increases among consumers. High costs of sensors or RFID tags coupled with lack of understanding of IoT impedes growth prospects.
The report highlights key initiatives taken by the China Central Government and China's Ministry of Finance for the development of domestic IoT market. The section also provides a layout of the IoT investment focus according to the 12th Five Year Plan of China.
Key trends in the IoT market include industry growth led by applications, emerging integrated platforms and emerging business models. Major partnerships taken place during 2010-12 in the China’s IoT market are also included in the report.
The competition section outlays the competitive landscape of the IoT market in China briefing about the domestic and foreign players existing in the market. This section provides a three dimensional analysis of key players’ revenues, profits and market capitalization. The report also features brief profiles of major domestic and foreign players in the market with a snapshot of their corporation, financial performance, business highlights and their product portfolio, providing an insight into the existing competitive scenario.
Key takeaway section summarizes the entire market in terms of opportunities, trends and challenges persisting in the IoT market in China.
More information can be found in the report “Internet of Things Market in China 2012” by Netscribes (India).
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