According to a recent IDC report (February 2015), the Internet of Things market size in Asia Pacific excluding Japan (APeJ) will grow from USD 408 billion in 2013 to USD 862 billion in 2020, a CAGR of 11.3%. Significant growth also is forecast in the number of autonomous intelligent/embedded systems, or “things”,that will connect to the internet in APeJ, with the number growing from 2.59 billion in 2013 to 8.98 billion in 2020.
So what is driving IoT solution adoption in Asia Pacific? From the supply side, the past year has seen an explosion of new IoT-related solutions, including consumer wearables devices, smart home products and industrial IoT solutions, and these solutions are being increasingly adopted across the consumer, enterprise and government segments. From the demand side, the presence of a strong manufacturing base with pervasive wireless and wireline broadband infrastructure presents the most ideal environment for IoT to flourish. As expected, the Asia Pacific markets of Australia, China Hong Kong, New Zealand, Singapore, South Korea and Taiwan are leading the way on a “things” per capita basis, with a significant gap between the more developed countries and the developing markets of ASEAN and India.
(Source by: IDC Asia Pacific, Research Partner, IoT Asia 2015)
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By being the first event of this kind here, we have seen a tremendous
amount of interest. We have had a lot of people at our stand, asking
question about what is IoT and what can we do with it. I am certainly
looking forward to the next edition of it; I think we are here at
the right time, there is a lot of interest and we should leverage
on it. Thomas Jakob, Managing Director
Asia Pacific, Bosch