Skip to main content

Smart Government Initiatives Drive the Internet of Things

The evolving Internet of Things (IoT) sector within the Asia-Pacific region will continue its rapid expansion, with the number of units connected to increase from 3.1 billion today to 8.6 billion by 2020, according to the latest market study by International Data Corporation (IDC).

Over this same period, the total Asia-Pacific excluding Japan (APeJ) market size will increase from $250 billion to $583 billion in revenue.

"The Internet of Things industry has matured considerably over the past year, with a number of large government initiatives across APeJ, and China in particular, driving demand," said Charles Reed Anderson, associate vice president at IDC. "This increase in market demand has led to an increased focus on IoT from the leading ICT vendors."

China will continue to dominate IoT within the Asia-Pacific region -- accounting for 59 percent of the APeJ market opportunity by 2020 -- and is one of the leading markets globally with nearly 1 out of every 5 units connected by 2020 to be in China.


Assessing Market Size vs Market Maturity

"While the market opportunity in China dwarfs the other leading countries like South Korea, India, Indonesia and Australia -- in terms of dollar value -- that doesn't mean it is the most mature," adds Anderson.

To assess the maturity of a market, IDC compare the total number of things connected to the overall population to get a connections per capita figure.

Based on this calculation, they discovered that the top three most mature markets were South Korea, Australia and New Zealand -- with China ranked sixth out of the 13 APeJ countries.

Their Iot market forecast also looks at which industries are the pioneers of Internet of Things applications. Not surprisingly, Government agencies currently lead the way, as national, regional and city governments attempt to leverage IoT solutions to drive new revenue streams, reduce costs and enhance citizen services as part of their Smart Government initiatives.

According to the IDC assessment, other leading industries in the nascent IoT marketplace include Utilities, Discrete Manufacturing, Healthcare and Retail.

It's important to understand which key industries are driving the local market, since each country has its own unique set of market development catalysts. As an example, the leading industries in Singapore are Telecoms, Consumer and Transport -- none of which are ranked in the APeJ top five industries for market opportunity.

Popular posts from this blog

2022 Tech Trends Outlook: What Happens Next?

This year may very well be another period of unprecedented challenges and opportunities. In 2022, several highly anticipated technology-related advancements will NOT happen, according to the predictions by ABI Research. Their analysts identify many trends that will shape the technology market and some others that, although attracting huge amounts of pundit speculation and commentary, are less likely to advance rapidly over the next twelve months. "The fallout from COVID-19 prevention measures, the process of transitioning from pandemic to endemic disease, and global political tensions weigh heavily on the coming year's fortunes," said Stuart Carlaw, chief research officer at ABI Research . What Won’t Happen in 2022? Despite all the headlines and investments, the metaverse will not arrive in 2022 or, for that matter, within the typical 5-year forecast window. The metaverse is still more of a buzzword and vision than a fully-fledged end goal with a clearly defined arrival d

Digital Transformation for the Oil and Gas Sector

The savvy CEOs of multinational organizations will accelerate their investment in digital transformation projects in 2022, and beyond, to improve their competitiveness. Every industry leader that is forward-looking will act swiftly to grasp the upside opportunity. Global oil & gas companies face a myriad of operational, commercial, and existential security threats. According to the latest worldwide market study by ABI Research, oil & gas firms apply digitalization to combat these threats and will spend $15.6 billion on digital technologies by 2030. Oil & Gas Digital Apps Market Development Investments in digitalization can help to analyze a supply pipeline’s condition, prepare for fluctuations in the changing prices for oil and gas, as well as aid action plans to create more sustainable operations and transfer to producing renewable energy sources. "Safety and Security are top priorities for oil & gas operators. Data analytics allied with IoT platforms have become

How Ride-Sharing Apps Changed Local Transport

Building on significant advances in disruptive mobile app technology, ride-sharing services have emerged to become a popular means of urban mobility. This is unsurprising given the advantages of ride-sharing options over traditional transport modes, such as buses and more expensive taxis. Innovative ride-sharing platforms enable app users to customize their journeys according to real-time phenomena, such as nearby traffic conditions, time of day, and rider demand. However, this is not to say that ride-sharing services are perfect. The popularity of ride-sharing has resulted in some additional traffic congestion in major cities already struggling to control this issue, while the widespread disruption caused by the pandemic affected most stakeholders within the local transportation value chain. Ride-Sharing App Market Development According to the latest worldwide market study by Juniper Research, ride-sharing spending by consumers globally will exceed $937 billion by 2026 -- that's c