20 Mar '17, 12am

China bets big on Industrial IoT

China bets big on Industrial IoT

China is pushing hard to develop the Industrial Internet of Things (IIoT) in the country. The Chinese government projects the country’s Industrial Internet of Things to grow to RMB450 billion (about $65 billion) by 2020—occupying roughly one quarter of China’s whole IoT market. The IIoT segment in China has maintained a growth rate of more than 25%. Figure 1: Growth forecast of China's IIoT (Source: China's Ministry of Industry and Information Technology) At present, Chinese enterprises whose status can be described as Industrial 3.0 know they need a lot of improvements, especially in cost control, production efficiency and process management. Nevertheless, the Chinese government is betting big on IIoT. In the context of encouraging energy conservation and green environmental protection, China has fostered a process of manufacturing upgrades in recent years. Based on the I...

Full article: http://www.eetasia.com/news/article/china-bets-big-on-ind...

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