China's IoT Platform will spend 6.22 billion U.S. dollars in 2021.

IDC recently released the "China Internet Platform Expenditure Forecasting and Analysis" research report. The report predicts that in 2021, China’s IoT platform will reach US$6.22 billion (approximately RMB 41.97 billion). This growth has benefited from the steady growth of the Chinese economy and the strong demand for emerging technologies from governments, manufacturing, public utilities and other industries. IDC expects that China's IoT platform spending will maintain a compound annual growth rate of 13.0% for the next four years (2017 to 2021). By 2021, China’s IoT platform will rank first among all regions in the world, and its global share will exceed 30%.

IoT ecosystem and platform promote mutual development

IDC believes that the Internet of Things is a comprehensive, multi-dimensional and complex ecosystem, and the Internet of Things platform is an important platform that connects all elements of the ecosystem. The IoT platform vendors can aggregate partners in the ecosystem, form industry alliances, explore business models, collaborate and divide labor, and promote IoT solutions in more application scenarios. These cooperation and trials have also promoted the evolution and improvement of the Internet of Things platform and formed a complementary benign development trend. For example, a solution provider who has been deeply involved in the industry for many years is more familiar with the development and characteristics of the industry than other partners. Based on this, through the existing experience and accumulation, IoT platform vendors can help them improve their platform. For example, a better digital model based on IoT products is defined on the platform. The open IoT platform also promotes business model innovations including application developers, platform providers, industry solution providers, and end users. For example, the tripartite model and the Quartet model are also in different industries and scenarios. Has achieved commercial success.

Modularization of platform will promote the application of Internet of Things from both sides of supply and demand

Different IoT users have different needs, and IoT users are different from traditional IT decision processes when making decisions. The deployment of IoT applications comes more from the needs of the enterprise business unit. These requirements are to deploy IoT solutions for specific business scenarios to improve the operational efficiency of one or more segments and reduce the overall cost of the enterprise. Due to the limited funds, most IoT users can hardly plan and implement an overall IoT solution for the enterprise through top-level design. Therefore, Internet of Things platform companies also need to provide a variety of services or product strategies, and develop different pricing strategies to serve users of the Internet of Things. This not only meets the needs of enterprises to steadily expand the application scenarios of the Internet of Things, but also forms a common growth with customers. Strong partnership. The functions of the Internet of Things platform are authorized and opened according to a certain combination. IDC defines it as a "modular IoT platform strategy." The modular IoT platform will also provide a more intensive, convenient, and friendly development environment for IoT application developers. Therefore, the modular IoT platform can promote the development and implementation of IoT solutions from both user and developer perspectives.

According to Cui Kai, research manager of China Telecom and Internet of Things Research Department at IDC, “In the next two years, more manufacturers and service providers will invest in and expand the IoT platform, and China’s Internet of Things platform will exhibit fierce competition. The promotion of manufacturers will accelerate the maturity and landing of Internet of Things technologies and solutions, and the Internet of Things platform will also play a significant role in it."

At the same time, IDC China will also carry out special research on the Internet of Things platform in 2018, select representative IOT platforms in China to conduct in-depth evaluations, and publish the China Internet of Things platform MarketScape report.

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