Daily Management Review

The Internet Of Things Taking China by Innovation Hits Ninety Billion Dollar


09/25/2015


The loT industry that weaves traditional devices to the internet is valued at ninety billion dollar.



Nanjing – 24 September 2015 – The reports state that the “loT” industry or the “Internet of Things” at China acquired the value of “580 billion yuan” which is equivalent to “90 bln U.S. dollars”. A report that was published on Thursday, the 24th of September 2015, informed that the said figures were from the year of 2014, whereby a yearly increment of “18.46 percent” has been observed.
 
The function of the loT is to connect “traditional devices” to the Internet. The term “traditional devices” includes various home appliances. Given the innovative scope of the system loT has turned out to be a “powerful driving force” which demonstrates the strength of innovation and boosts China’s economic growth, reported “Xinhua News Agency” which was a part of the exposition on loT that was held in Wuxi City, situated in the eastern province of Jiangsu in China.
 
Furthermore, the news agency stated in its report that:
“China's IoT technologies have continued to integrate with both traditional industries like agriculture and manufacturing and rising industries such as new energy and new materials”.
 
There are four centres of loT industry, formed by the country of China, which are situated in “Yangtze River Delta, Pearl River Delta, Bohai Rim, and central and western China, with Yangtze River Delta”, informed the report. These four centres are at the steering wheel of the leadership when it comes to the “industrial scale”.
 
Moreover, the challenges faced by the loT industry if China were also enlisted in the said report, whereby it covered topics like “reliance on importation of sensor and chip technology, problems in application, information and data security”. 





References:
http://news.xinhuanet.com
 







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