We live in a world where everything is connected. We have various electronic gadgets in a home and in office which are already connected with the Wi-Fi. Now we are expecting that many more devices will come in future to help us and improve the connectivity. 5G is the new sensation of the China market.
We all know that China is the world's number one market in IOT. China has bought new telecom technology that has created a buzz in recent days, i.e. data analytics and 5G. By these both China will be able to dominate the IOT market globally. According to the research, China is considered the world's biggest market for IoT and it has held almost 22℅ market shares. Many Chinese M2M deployments have done by the traditional B2B approach. Chinese IOT market is faster than the GDP growth and it is assumed that by 2020 it will be 20%-30%.
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From a report, it is clear that the combination of IOT, AI i.e. artificial intelligence and data analytics has transformed the industrial sector by including smart tools into our day to day life. Whether its home appliances like smart refrigerators or smart washing machines or smart home lighting or smart air conditioners or even smart vehicles. All of these are connected to your handheld mobile device and can be controlled through that. All of these has contributed a lot in making life easier through these smart tools as they tend to save a lot of our time. Weather getting up in the morning to getting your breakfast prepared to ride to the office to scheduling your meetings to book a restaurant table for your date to through delivery apps from your desired food joint to booking holidays all of these can be done from one place and IoT devices are contributing a lot into it. Some of the famous leading Chinese companies who are taking a lead in this field are China Mobile, China Unicom, Asia Pacific telecom group, and Taiwan mobile. By 2025 it is estimated that the IOT connection will reach 13.8 billion globally. It is quite clear that IOT will improve our lifestyle, even in daily activities too. It has made our life smarter, productive and easier.
Now IOT gets into every business in China. It is not only restricted into the manufacturing but also in the industrial sector, city service, agriculture, retail, and healthcare too. Have you heard about bike share services? i.e. MO bike or Ofo. You can take the bike in rent for your convenience and can pay off by the bike mob application. These IOT multi-colored bikes are everywhere. You can hire from anywhere and can park anywhere. After parking, you just need to stop your ride from your mobile app. In China, many new companies open their business in IOT service. Like smart ride sharing. Maybe it is a hotel or any other public place Wi-Fi always link the network for communicating.
There is no doubt that the Chinese government has always encouraged IOT development. As per them, it is important for the national power. Since 2010 Chinese Government started enforcement and they were confident that by 2020 they will reach to the market of 163 billion. A few years back the annual growth was 20% and today the economic information service says that the by 2020 the market will reach up to 230 billion. China government provides special tax breaks to those who are into manufacture ring business. Now a days China actively recruiting data scientist, artificial intelligence experts and machine learning developers from the United States’ tech companies and across the world actively to make more lead into IOT market and trying a reach a sweet spot in this industry so that no one can touch them and every other company from other nations will reach out to these Chinese Multinationals to buy there IOT technologies. Just like they have captured smartphone markets today same they want for the IOT market as well.
Today many IOT company has grown up worldwide. Apart from the China Government support, you cannot neglect the IOT Company’s power. The new entrepreneurs are taking risks to develop the business. The mobile operator in China will provide reliable, secure and intelligent connectivity throughout the country. The IOT, i.e. internet of things will cross the market by 5 billion in 2025 and China will lead the position. Two third connections will come from China. So, it’s quite obvious how China is ruling the IOT world and will continue to do the same in the future.
The intensity of IOT in China so much and We have so many benefits from the IOT. Sharing a bike is a bright example. So, for this reason, people Seek strong demand for those products which are connected? For an example MO bike, station less bicycle connected with Vodafone. In the Chinese market, the competition is always intense