The report forecasts the IoT market in China to grow at a CAGR of 18.99% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: A trend which is propelling market growth is the expansion of the semiconductor industry. The IoT is one of the big drivers of the semiconductor industry. Due to the growth of the IoT in the automotive and industrial markets, the demand for semiconductors is increasing. China alone consumes 56.5% of the semiconductor chips manufactured across the world. The country will continue to expand its semiconductor leadership and increase its market share during the forecast period.
According to the report, a key growth driver is the growing role of Chinese mobile operators in IoT. During 2014-2015, 4G mobile networks started to replace 3G in China, and most of the smartphone manufacturers' product lines switched to 4G. By the end of 2015, the 4G mobile phone market had produced more than 95 million smartphones, representing about 20% of the mobile phone market in China. The 4G mobile networks offer better internet speeds to handheld devices. This enables the hassle-free operation of IoT solutions from remote locations.
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?