Global EditionASIA 中文双语Français
Business
Home / Business / Technology

China's IoT market set to grow

By Ouyang Shijia in Wuxi | chinadaily.com.cn | Updated: 2018-09-16 13:38
Cao Wenzhong, vice-president of China Economic Information Service, makes a speech on China's IoT market. [Photo by Xiao Da/chinadaily.com.cn]

China's internet of things (IoT) market was worth more than 1.19 trillion yuan ($174 billion) last year, according to a report released on Sept 13 by China Economic Information Service.

The Annual IoT Industry Development Report of China revealed that the national IoT market grew by an incredible 1 trillion yuan between 2009 and 2017, with over 25 percent compound annual growth during that period.

According to the report, the IoT market will continue to grow rapidly over the next few years, and is expected to hit 1.5 trillion yuan by the end of this year.

The Annual IoT Industry Development Report of China was released by China Economic Information Service in Wuxi, Jiangsu province on Sep 14, 2018. [Photo by Xiao Da/chinadaily.com.cn]

But Cao Wenzhong, vice-president of China Economic Information Service, said that there are still challenges ahead, during a press conference in Wuxi, Jiangsu province.

We need to see more investment in IoT research and development, with China actively participating in the process to set international standards, he said.

 

 

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US