Who is going to take the lead on the Internet of Things tomorrow? Probably China.
The Internet of Things is already in rapid growth in China. Inspired by the success of Nest or Fitbit in the US, all of the major Chinese web properties— Alibaba, SINA, Baidu, Tencent — as well as Chinese smartphone maker Xiaomi are looking at ways to use connected devices as a means to increase market share and advertising revenue.
“The Chinese Internet of Things market already breaks 500 billion Yuan.”
Currently, four major clusters of industries for IoT have been created in the Yangtze River Delta, Pearl River Delta, Circum-Bohai-Sea and Midwest, and three national industrial demonstration bases for IoT have been established in Wuxi, Chongqing and Hangzhou. According to the latest stats, the industrial size of IoT in China has exceeded RMB 500 billion Yuan in 2013 with an annual compound growth rate of almost 30 percent.
“Accelerating promotion and in-depth application of the Internet of Things in various fields such as industry, agriculture and modern service industry will greatly urge China to grasp the initiative in the new round of global economic structural adjustment and industrial reforms based on information technology and drive fundamental transformation as a way of economic development towards innovation-orientation.” – Cao Shumin, director of China Academy of Telecommunication Research of MIIT
The Ministry of Industry and Information Technology (MIIT) is expected to carry out demo projects for the IOT typical applications in public security, urban administration, healthcare, energy conservation and environmental protection, and elderly care services. 80 demo projects and 10 inter-provincial projects led by 35 enterprises are already scheduled. China is also formulating a total of 49 national standards for IoT. Standard draft of “Overview to IoT” led by China has become the first general standard on a global scale.