The Internet of Things (IoT) market in China is expected to surpass $300 billion in 2025, according to IDC.
IoT market in China will account for about 26.1 percent of the total global IoT market volume, Xinhua news agency reported.
Internet of vehicles, smart metering, intelligent home and wearable terminals will see a rapid increase thanks to the construction of infrastructure including 5G.
The global spending on IoT will reach $754.28 billion this year. IOT spending in 2025 will top $1.2 trillion with a compound annual growth rate of 11.4 percent between 2021 and 2025 driven by manufacturing, logistics and transportation, automotive, and utilities.