Daily Management Review

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


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”. 


Science & Technology

China takes the lead in quantum cryptography

Gartner: Chinese smartphones lead sales

Bitcoin Mining Worsens Global Warming Effect

Europe overtakes US by number of patents for self-driving car technologies

Samsung introduces display technology for folding screens

How retailers use technologies to increase sales

Facebook releases videochat devices Portal and Portal Plus

Smartphone makers will pay for pre-installing Google apps‍

Five loudest data leaks

Airbus announces Moon exploration competition

World Politics

World & Politics

Tumblr, Facebook wage war against adult content

Arrest of Huawei’s top manager endangers US-China trade truce

Has Macron given up to Yellow Vests?

What to expect from G20 Buenos Aires summit?

China steps up space race with the US

Climate change will cost US $ 500 billion a year

China manages to stop growth of big cities population

Donald Trump thanks Saudi Arabia for low oil prices