NANJING, Aug. 31 (Xinhua) -- The application value of the Internet of Things (IoT) in China is widely recognized and its industrial and consumer section is playing an outstanding role, according to the Annual Report on the Development of China’s Internet of Things (2016-2017).
The report, compiled by Jiangsu Center of China Economic Information Service, will be released in Wuxi on September 1, 2017 as one of the important events of the forthcoming World Internet of Things Exposition 2017.
A survey on China in the telecom giant Vodafone’s IoT Barometer 2016 indicates that 91% of interviewees believed that IoT is the key to an enterprise’s success in the future and 94% believed that IoT will bring about practical value if appropriate time and capital are invested on it.
According to CCID, the market size of the Industrial Internet of Things (IIoT) in China was RMB189.6 billion in 2016. By 2020, it will account for 25% in China’s IoT industry and its market size will exceed RMB450 billion.
As the greatest field where China’s IIoT is applied, manufacturing spends the most on IoT (including operation, management of production assets, maintenance and on-site services). According to IDC, the expense for IoT by Chinese manufacturers will reach as high as 127.5 billion US dollars (approximately equivalent to 848.3 billion yuan) by 2020 .
Over the recent years, the consumer IoT market, especially intelligent hardware, has entered a boom period. Data by CCID shows that the market size of intelligent hardware in China was 103.98 billion yuan in 2016, up by 141.6% year on year.
Currently smart home takes up the largest share in the intelligent hardware market, with a proportion of 35.7%. The second is personal wearable equipment, which accounts for 20.8%. Intelligent traffic equipment and medical equipment account for 15.7% and 5.5% respectively, and other products account for 22.3%.
As the demand for intelligent personal assistants is becoming larger, the market share of intelligent hardware with the voice interaction functionality will further rise. Foreign companies such as Amazon, Google, Apple and Microsoft, are rivaling fiercely on the personal assistant market. China’s Baidu and Tencent developed DuerOS and Xiaowei intelligent voice platforms respectively to cooperate with hardware manufacturers to launch products. Alibaba Artificial Intelligence Laboratory (A.I.Labs) has released the Tmall Elf X1, which has a built-in Chinese man-machine interaction system. (Contributed by Chen Xixi, Zhao Ding; edited by Huang Xiaolan)
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