`The China IoT market size projected to grow at a CAGR of 41.1%”
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 driving factors for the China IoT market are growing demand for smartphone and other connecting devices, increasing internet penetration, rising trends of industrial automation, and mainstreaming of cloud computing.
Connectivity device type is expected to hold the largest market share by 2022. The connectivity of IoT is vital to connect devices with each other and the internet. With the advent of technology upgradation there is increase in numbers of companies providing low power wireless network connectivity that is specially designed for IoT applications
“Application and network security by software to be the fastest-growing market during the forecast period”
The market for application and network security is expected to grow at the highest CAGR during the forecast period. Increasing demand for application security products and services by both enterprises and small and medium-sized businesses (SMBs) across different markets due to increasing adoption of web services and business process integration, is further expected to drive the market.
“Managed services to be the fastest-growing market during the forecast period”
The market for managed services is expected to grow at the highest CAGR during the forecast period. Managed services in IoT helps in enhancing the service interaction, customer experience, and overall operational efficiency. It offers technical skills that are required to maintain and update software in the IoT ecosystem.
In the process of determining and verifying the market size for several segments and subsegments gathered through the secondary research, extensive primary interviews were conducted with key people. The break-up of profiles of primary participants is given below:
- By Company Type: Tier 1%–20 %, Tier 2%–45% and Tier 3%–35%
- By Designation: C level Executives– 50%, Director-level – 35%, and Manager level – 15%
The report also profiles major players in the China IoT market? 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.
Reasons To Buy the report:
From an insight perspective, this research report has focused on various levels of analysis?industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the China IoT market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on IoT offered by the top players in China IoT market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the China IoT market
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the China IoT market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the China IoT market