: Chinas IoT market to top 0bn in 2025: Report #IndiaNEWS #Science Beijing, Dec 6 | Chinas Internet of Things (IoT) market is expected to surpass 0 billion in 2025, according to an industry report.

Chinas IoT market to top 0bn in 2025: Report #IndiaNEWS #Science
Beijing, Dec 6 | Chinas Internet of Things (IoT) market is expected to surpass 0 billion in 2025, according to an industry report.
The figure will account for about 26.1 per cent of the total global IoT market volume, said a report released by research firm International Data Corporation (IDC).
In the next five years, Chinas spending on software, hardware and service will maintain steady growth, with hardware spending taking the lions share during the period, reports Xinhua news agency.
Internet of vehicles, smart metering, intelligent home and wearable terminals will see a rapid increase thanks to the construction of infrastructure including 5G, said the report.
The global spending on IoT will reach 4.28 billion this year, while in 2025 it will top .2 trillion with a compound annual growth rate of 11.4 per cent between 2021 and 2025.
There will be more growth in IoT because the hardware vendors work RD for expanding and developing it. Not only are the hardware vendors working for IoT growth, but there are network vendors who are investing more in the new network terminologies.
It is expected that IoT will grow more on an industry level. The manufacturing, logistics and transportation, automotive, and utilities will drive IoT and take it to the height of success.
Source: IANS
The post Chinas IoT market to top 0bn in 2025: Report appeared first on Bhaskar Live English News.

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