The Internet of Things – the network of physical objects embedded with electronics, software, sensors, and network connectivity that enables them to collect and exchange data – will help turn China’s ICT sector into a $6 trillion industry by 2025 and a major driver of the country’s economy, the US-based market research company IDC predicted this week. With annual growth predicted to average 7%, opportunities for investors and enterprises would also increase accordingly.
The sector was poised to embrace four new landscapes by 2025 – the economic, technological, user and ecological – IDC China’s MD Kitty Fok told a seminar in Beijing yesterday, and was about to embark on a transformational journey from a supporting to a leading role within business.
In the new technological landscape, the Internet of Things and intelligent hardware would become ubiquitous, she said, while secure cloud services would become as an essential part of infrastructure as water and electricity are today.
Big data assets would drive innovation in artificial intelligence and user experience, she added. By 2025, IDC is predicting that over 80% of organisations in China will have become technology driven and that the average Chinese consumer will own five digital devices.
Internet of Things set to turn China’s ICT sector into $6trn industry
Source: chinadaily