Research: China IoT Market is expected to Worth 121.45 Billion USD by 2022
August 26, 2016
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According to the new market research report “China IoT Market by Hardware (Processor, Memory, Logic, Sensor, & Connectivity), Software (Real-Time Streaming, Network Security, Data Management, Remote Monitoring, & Bandwidth Management), Platform, Service, and Application – Global Forecast to 2022“,published by MarketsandMarkets, the market is expected to reach USD 121.45 Billion by 2022, at a CAGR of 41.1% between 2016 and 2022.
The major factors driving this market are the growing demand for smartphone and other connecting devices, the increasing internet penetration, rising trends of industrial automation, and mainstream adoption of cloud computing.