China's IOT Ecosystem Takes Shape, Size Exceeds USD140 Billion
Dou Shicong
/SOURCE : Yicai
China's IOT Ecosystem Takes Shape, Size Exceeds USD140 Billion

(Yicai Global) Nov. 10 -- China is building its Internet of things (IOT) ecosystem and has made significant achievements in formulating international standards, with the number of patent applications rising every year, an official from the Ministry of Industry and Information Technology said at the 2017 China Internet of Things Conference.

The conference opened yesterday in Fuzhou, in China's southeastern Fujian province. Fuzhou Economic and Technological Development Zone is China's fourth national IOT park and leads the country in innovative applications of narrowband Internet of Things (NB-IOT) technologies, state-run Xinhua News Agency quoted the official as saying.

The size of China's IOT industry rose from USD25.62 billion (CNY170 billion) in 2009 to CNY930 billion last year. A sophisticated industrial chain has formed, covering chips, sensors, terminal equipment, application software and communications networks. China has deployed more than 100 million machine-to-machine terminals.

IOT technologies have come to bear on a massive scale in various fields, including retail, transport, logistics, environmental protection, healthcare and security under pilot programs.

However, China's IOT industry still trails that of developed nations in core chips, high-end sensors and smart hardware products, the official said, adding that potential problems also remain in network and information security.

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Keywords: Things of Internet , Fuzhou , Ministry of Industry And Information Technology