China Business Information Network news: The Internet of Things refers to the real-time acquisition of any object or process that needs to be monitored, connected, and interactive through various devices and technologies such as various information sensors, radio frequency identification technology, global positioning system, infrared sensors, laser scanners, and other necessary information such as sound, light, heat, electricity, mechanics, chemistry, biology, and location through various possible network access. Realize the ubiquitous connection between things and things, things and people, and realize the intelligent perception, recognition and management of goods and processes.

CS-1000 UTX1700PTFE

CS-1000 UTX1700PTFE

Global market size analysis

In recent years, the global Internet of Things industry has shown a rapid development trend, the rapid expansion of application fields, and the rapid integration of new technologies such as big data, artificial intelligence, cloud computing, and edge computing with the Internet of Things. Data show that the global Internet of Things market size in 2021 will reach 769.18 billion US dollars, and it is expected that the global Internet of Things market size will reach 954.55 billion US dollars in 2023.

Data source: IDC, China Business Industry Research Institute

Chinese market size analysis

Under the promotion of relevant national policies, China’s Internet of Things will continue to develop rapidly, and the scale of cellular Internet of Things end users of the three major operators in China continues to expand, and the development space of the Internet of Things is broad. Data show that in 2021, China’s Internet of Things market size reached 185.634 billion US dollars. In the future, the Internet of things has considerable room for growth, and it is expected that the market size of China’s Internet of Things will grow to $238.717 billion in 2023.