Says China will continue to dominate the APAC region, accounting for 59% of the APeJ market opportunity by 2020
As per IDC Asia/Pacific Internet of Things (IoT) industry will continue its strong growth, with the number of units, or “things”, connected to increase from 3.1 billion to 8.6 billion by 2020.
Over this same period, the total Asia/Pacific excluding Japan (APeJ) market size will increase from USD250 billion to USD583 billion.
“The Internet of Things industry has matured considerably over the past year, with a number of large government initiatives across APeJ, and China in particular, driving demand,” said Charles Reed Anderson, Associated VP, Head of Mobility and Internet of Things at IDC Asia/Pacific. “This increase in market demand has led to an increased focus on IoT from leading ICT vendors, as well as start-ups – with each keen to grab their share of the growing IoT market.”
IDC’s IoT Market Forecast shows that China not only will continue to dominate the Asia/Pacific region, accounting for 59% of the APeJ market opportunity by 2020, but also be one of the leading markets globally with nearly 1 out of every 5 units connected by 2020 to be in China. However, market size is not the same as market maturity.
“While the market opportunity in China dwarfs the other leading countries like South Korea, India, Indonesia and Australia in terms of dollar value, that doesn’t mean it is the most mature,” adds Anderson. “To assess the maturity of a market, we compare the total number of things connected to the overall population to get a connections per capita figure. Based on this calculation, we discovered the top three most mature markets were South Korea, Australia and New Zealand, with China coming in sixth out of the 13 APeJ Countries.”
