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Chinese IoT market reaches USD 90 bln in 2014

2015-09-25 12:01:00| Telecompaper Headlines

(Telecompaper) China's Internet of Things (IoT) industry reached a value of CNY 580 billion (approximately USD 90 bln) in 2014, which represents a growth of 18.46 percent year-on-year, according to a report issued by Xinhua News Agency on an IoT expo in Wuxi City, east China's Jiangsu Province. The study also found that IoT technologies have continued to integrate with both traditional industries (agriculture and manufacturing) and emerging industries (new energy and new materials). The report further shows that the major challenges faced by the Chinese IoT market include its reliance on imports of sensor and chip technology, as well as issues in application, information and data security.

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