Market size and future development trend of China's IoT industry

The Internet of Things industry in China is currently one of the fastest growing industries, combining the physical and digital worlds to achieve intelligent management of the Internet of Things. With the development of internet technology, the market size of the Internet of Things industry is rapidly expanding and is recognized as one of the important areas for future economic development.

According to the 2023-2029 China Mobile IoT Industry Market Panorama Survey and Investment Outlook Report released by Market Research Online, the size of the IoT market in China reached 174.86 billion yuan in 2017, an increase of 14.2% compared to 2016. In 2018, it is expected that the IoT market size will reach 202.7 billion yuan, an increase of 16.3% compared to 2017. In the next five years, the scale of China's IoT market is expected to reach 3.5 trillion yuan, with a growth rate of over 20%.

With the continuous development of IoT technology, the development trend of the future IoT industry will be very obvious. Firstly, the Internet of Things technology will become more widespread. With the development of small sensors and wireless communication technology, the Internet of Things technology will become more energy-efficient, environmentally friendly, and easier to promote to many fields such as industry, automobiles, agriculture, and healthcare.

Secondly, IoT technology will develop towards intelligence, enhancing the complexity of modern intelligent management systems, achieving intelligent management, and making IoT technology more efficient. In addition, the development of cloud computing and big data technology will also bring more application scenarios to the Internet of Things industry. In the future, IoT technology will provide more intelligent applications for various industries, thereby achieving sustainable development of the IoT industry.

In summary, the market size and future development trend of China's IoT industry are very obvious. With the further development and popularization of IoT technology, the IoT industry will usher in faster development in the future. The size of China's IoT market is expected to reach 3.5 trillion yuan in the next five years, with a growth rate of over 20%.