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China IoT market value in 2020 estimated at CNY690 billion
China’s IoT application market value rose from CNY531.8 billion (US$80.5 billion) in 2018 to over CNY600 billion in 2019 and will grow to CNY690 billion in 2020, according to industry sources.
China, to mitigate the impacts on economic development from the coronavius outbreak, has made policies to boost 5G infrastructure construction, deployments of electric vehicle-use power charging facilities, and development of AI, big data centers and IoT, the sources said.
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