China IoT Market, By Hardware (Processor, Memory Device, Logic Device, Sensor, Connectivity IC), By Service (Professional Services, Managed Services), By Platform (Device Management Platform, Application Management Platform, Network Management Platform), By Software (Real-Time Streaming Analytics, Application and Network Security, Data Management, Remote Monitoring System, Network Bandwidth Management) By Application (Consumer Electronics, Building Automation, Industrial, Automotive & Transportation, Healthcare, Retail, Oil & Gas, Agriculture, Others) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: October 2021
  • Report ID: BWC21135
  • Available Format: PDF
  • Page: 118

Report Overview

China IoT market is growing at a high CAGR as smartphones and 5G networks are becoming more popular, along with the launch of a wide range of IoT devices across the country.

China IoT Market- Industry Trends & Forecast Report 2027

The China IoT market is growing at the CAGR of 23.1% in the forecast period. The growth of the China IoT market is attributable to the increasing digital ecosystem and expanding IoT hardware manufacturing realm in China, along with growing penetration of tech giants offering IoT management platforms. Furthermore, government initiatives towards the development of smart cities are also fueling the growth of the China IoT market.

China IoT Market- Overview

The Internet of Things (IoT) device is a network of hardware and devices that are embedded with sensors, software, and data processing abilities. Through this amalgamation of software and hardware, IoT devices form a network of interconnected devices that collect and exchange data with each other as well as other non-IoT devices in the system. The most commonly used IoT devices are fitness trackers, medical sensors, smart security systems, smart fire alarms, smart bicycles, etc.

China IoT Market Forecast and Trends

Growth Drivers

Introduction Of 5G Networks

China officially launched 5G services in November 2019 and since then, the adoption of IoT devices has witnessed a significant boom. 5G networks provide significantly enhanced cellular bandwidths, making it easier for the IoT to connect multiple devices. Before 5G, all networks had restricted bandwidth, further constrained device connections, and challenging security. Furthermore, the growing usage of 5G networks and IoT in numerous sectors such as healthcare, transportation, and others is driving the growth of the China IoT market.

Availability of a Large Range of IoT Products

With the major growth potential of the China IoT market, several companies, both global and regional, are increasingly launching a wide range of IoT devices to exploit the market. Several technologies and smartphone giants are also entering this market, which is expected to widen the product and service range of IoT devices. Furthermore, the number of companies offering IoT solutions and services, such as professional and managed services, etc., is also influencing the growth of the China IoT market.

Restraints

Privacy and Security Concerns with IoT Devices

One of the major threats to the growth of the China IoT market is privacy and security concerns. Because of insecure connections and data storage, IoT-enabled devices, sensors, and software have created significant concerns. Furthermore, one of the most typical concerns with IoT is a lack of device authentication, as well as inadequate or no encryption. Unauthorized personnel may gain access as a result, resulting in data breaches. Due to this, a large population is reluctant towards the adoption of IoT, which is restricting its market growth.

Impact of COVID-19 on China IoT Market

In contrast to their counterparts in other countries, IoT devices in China thrived after the Coronavirus outbreak. During the period of quarantine and lockdown, IoT emerged as an effective solution in response to the COVID-19 pandemic as it enabled the tracking of patients' vital statistics. Advanced IoT solutions, including remote monitoring systems, can help hospitals and clinics treat patients in quarantine while maintaining social distance. Furthermore, IoT solutions also helped in the efficient management of vaccine supply chains from countries, which led to the growth of the IoT market in China.

China IoT Market - By Hardware

Based on hardware, the China IoT market is segmented into the processor, a memory device, logic device, sensors, and connectivity IC. Among these, the sensors segment dominates the market because of their wide product range that caters to the needs of various industries, such as heart rate sensor, soil humidity sensor, chemical sensor, blood glucose sensor, image sensor, humidity sensor, etc. These sensors are capable of detecting external movements and changes and convert them into valuable data and send it to local storage systems, such as smartphones. This is why its market is growing at such a high rate.

China IoT Market - By Service

Based on services, the China IoT market is categorized into professional services and managed services. The professional services segment accounted for the largest share in the China IoT market in 2020 and is likely to maintain its dominance even during the forecast period. The rising number of IoT devices is spurring the growth of this segment. In addition, recent developments in wireless technology and the need for operational efficiency in several sectors, including healthcare, are propelling the growth of professional services.

China IoT Market - By Platform

Based on platforms, the China IoT market is segmented into device management platform, application management platform, and network management platform. Among these segments, the device management platform holds the largest market share because of the increasing number of IoT devices. Chinese consumers are flooded with IoT products such as smart home security systems, activity trackers, digital twins, AR glasses, etc., most of which are consumer goods. This plays a crucial role in driving the growth of device management platforms in the China IoT market.

Competitive Landscape

The leading players in the China IoT market are IBM Corp., Microsoft Corp., Alibaba Group Holding Ltd., Huawei Investment & Holding Co., Ltd., Xiaomi Inc., MediaTek Inc., Qualcomm Inc., China Mobile Ltd., China Telecom Corp. Ltd., Cisco Systems Inc., and other prominent players.

There are several large companies that dominate the China IoT market, including IBM, Microsoft, and Xiaomi. Regional players, however, also have a larger share of the market and a more thorough penetration of their offerings. These companies offer a wide range of products and services that have been tailored to meet the demands of various industries. In addition, competitive strategies like partnerships, mergers, acquisitions, collaborations, etc., are also prevalent in this market.

Recent Developments

  • In October 2021, Carrier Global, a US-based home appliance corporation, announced its expansion in the Chinese market with the launch of the innovative Kidde MOON series of smart home/Internet of Things (IoT) devices.
  • In September 2021, XINYI Information Technology, a Chinese Internet of Things (IoT) chips developer, announced to have secured around 500 million yuan (USD 77.5 million) in the Series B round of financing for further product R&D and improved supply chain.

Scope of the Report

Attributes

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Million

Product Service/Segmentation

By Hardware, By Service, By Platform, By Software, By Application

Key Players

IBM Corp., Microsoft Corp., Alibaba Group Holding Ltd., Huawei Investment & Holding Co., Ltd., Xiaomi Inc., MediaTek Inc., Qualcomm Inc., China Mobile Ltd., China Telecom Corp. Ltd., Cisco Systems Inc., and other prominent players.

 

By Hardware

  • Processor
  • Memory Device
  • Logic Device
  • Sensor
  • Connectivity IC

By Service

  • Professional Services
  • Managed Services

By Platform

  • Device Management Platform
  • Application Management Platform
  • Network Management Platform

By Software

  • Real-Time Streaming Analytics
  • Application and Network Security
  • Data Management
  • Remote Monitoring System
  • Network Bandwidth Management

By Application

  • Consumer Electronics
  • Building Automation
  • Industrial
  • Automotive & Transportation
  • Healthcare
  • Retail
  • Oil & Gas
  • Agriculture
  • Other
  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Key Market Segments
  2. Research Methodology
    1. Qualitative Research
    2. Methodology
    3. Regional Split of Primary & Secondary Research
    4. Secondary Research
    5. Primary Research
      1. Breakdown of Primary Research Respondents, By Region
      2. Breakdown of Primary Research Respondents, By Industry Participants
    6. Market Size Estimation
    7. Assumptions for the Study
    8. Market Breakdown & Data Triangulation
  3. Executive Summary
  4. Industry Insight and Growth Strategy
    1. Value Chain Analysis
    2. DROC Analysis
      1. Market Drivers
        1. Introduction Of 5G Networks
        2. Availability Of Large Range Of IoT Products
      2. Market Restraints
        1. Privacy And Security Concerns With IoT Devices
      3. Market Challenges
        1. Traditional Government Structure
      4. Market Opportunity
        1. Increasing Use Of IoT Devices In Healthcare And Medical Industry
        2. Positive Influence of the COVID-19 Pandemic
    3. Recent Developments
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Buyers
      2. Bargaining Power of Suppliers
      3. Intensity of Rivalry
      4. Threat of New Entrants
      5. Threat of Substitutes
  5. China IoT Market Overview
    1. Market Size & Forecast by Value, 2017-2027
    2. Market Size and Forecast, By Segment
      1. By Hardware
        1. Processor
        2. Memory Device
        3. Logic Device
        4. Sensor
        5. Connectivity IC
      2. By Service
        1. Professional Services
        2. Managed Services
      3. By Platform
        1. Device Management Platform
        2. Application Management Platform
        3. Network Management Platform
      4. By Software
        1. Real-Time Streaming Analytics
        2. Application and Network Security
        3. Data Management
        4. Remote Monitoring System
        5. Network Bandwidth Management
      5. By Application
        1. Consumer Electronics
        2. Building Automation
        3. Industrial
        4. Automotive & Transportation
        5. Healthcare
        6. Retail
        7. Oil & Gas
        8. Agriculture
        9. Others
  6. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis (2020)
    3. Competitive Benchmarking by Operating Parameters
  7. Impact of COVID-19 on China IoT Market
  8. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. IBM Corp.
    2. Microsoft Corp.
    3. Alibaba Group Holding Ltd.
    4. Huawei Investment & Holding Co., Ltd.
    5. Xiaomi Inc.
    6. Mediatek Inc.
    7. Qualcomm Inc.
    8. China Mobile Ltd.
    9. China Telecom Corp. Ltd.
    10. Cisco Systems Inc.
    11. Other Prominent Players
  9. Key Strategic Recommendations

 

List of Figures

 

 

Figure 1: China IoT Market Segmentation

 

Figure 2: China IoT Market Value Chain Analysis,

 

Figure 3: Company Market Share Analysis, 2020

 

Figure 4: China IoT Market Size, By Value (USD Billion), 2017-2027

 

Figure 5: China IoT Market Share (%), By Hardware, By Value, 2017-2027

 

Figure 6: China IoT Market Share (%), By Service, By Value, 2017-2027

 

Figure 7: China IoT Market Share (%), By Platform, By Value, 2017-2027

 

Figure 8: China IoT Market Share (%), By Software, By Value, 2017-2027

 

Figure 9: China IoT Market Share (%), By Application, By Value, 2017-2027

 

 

List of Tables

 

 

Table 1: China IoT Market Size, By Hardware, By Value, 2017-2027

 

Table 2: China IoT Market Size, By Service, By Value, 2017-2027

 

Table 3: China IoT Market Size, By Platform, By Value (USD Billion), 2017-2027

 

Table 4: China IoT Market Size, By Software, By Value (USD Billion), 2017-2027

 

Table 5: China IoT Market Size, By Application, By Value (USD Billion), 2017-2027

 

Table 6: IBM Corp. Financial Analysis

Table 7: IBM Corp. Business Overview

Table 8: Microsoft Corp. Financial Analysis

Table 9: Microsoft Corp. Business Overview

Table 10: Alibaba Group Holding Ltd. Financial Analysis

Table 11: Alibaba Group Holding Ltd. Business Overview

Table 12: Huawei Investment & Holding Co., Ltd. Financial Analysis

Table 13: Huawei Investment & Holding Co., Ltd. Business Overview

Table 14: Xiaomi Inc. Financial Analysis

Table 15: Xiaomi Inc. Business Overview

Table 16: Mediatek Inc. Financial Analysis

Table 17: Mediatek Inc. Business Overview

Table 18: Qualcomm Inc. Financial Analysis

Table 19: Qualcomm Inc. Business Overview

Table 20: China Mobile Ltd. Financial Analysis

Table 21: China Mobile Ltd. Business Overview

Table 22: China Telecom Corp. Ltd. Financial Analysis

Table 23: China Telecom Corp. Ltd. Business Overview

Table 24: Cisco systems Inc. Financial Analysis

Table 25: Cisco systems Inc. Business Overvie

Market Segmentation

By Hardware

  • Processor
  • Memory Device
  • Logic Device
  • Sensor
  • Connectivity IC

By Service

  • Professional Services
  • Managed Services

By Platform

  • Device Management Platform
  • Application Management Platform
  • Network Management Platform

By Software

  • Real-Time Streaming Analytics
  • Application and Network Security
  • Data Management
  • Remote Monitoring System
  • Network Bandwidth Management

By Application

  • Consumer Electronics
  • Building Automation
  • Industrial
  • Automotive & Transportation
  • Healthcare
  • Retail
  • Oil & Gas
  • Agriculture
  • Other
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Frequently Asked Questions:

Ans: China IoT market is expected to grow at the CAGR of 23.1% by 2027.
Ans: The major factors driving the growth of the China IoT market are the introduction of 5g networks and availability of a large range of IoT products.
Ans: The key players in the China IoT market are: IBM Corp., Microsoft Corp., Alibaba Group Holding Ltd., Huawei Investment & Holding Co., Ltd., Xiaomi Inc., MediaTek Inc., Qualcomm Inc., China Mobile Ltd., China Telecom Corp. Ltd., Cisco Systems Inc., and other prominent players.
Ans: The consumer electronics segment accounted for the largest share in the China IoT market.
Ans: Privacy and security concerns with IoT devices act as a major restraining factor for the growth of the China IoT market.