IoT in the APAC except Japan markets continue to expand steadily across numerous industries including transportation, manufacturing, resources, and utilities. Use-cases connected to healthcare such as bedside telemetry, and remote healthcare monitoring will continue to be one of the swiftest-growing use-cases.
FREMONT, CA : Incremental growth of the IoT market in APAC across the predicted years (2022-2025) and is anticipated to surpass $437 billion by 2025 with a CAGR of 12.1%. This evolution is steered by improved adoption of location tracking, facial recognition, cold chain logistics & tracking of vaccines, and deployment of 5G in the territory.
IoT in the APAC except Japan markets continue to expand steadily across numerous industries including transportation, manufacturing, resources, and utilities pushed by the improved ability and dependability of fibre and cellular network infrastructure. In multiple Phase-I projects, companies concentrated on a single use case and on obtaining the data streams from single origins but as the associations achieve a more in-depth data-driven comprehension of their processes, they can begin to use other data sources, such as geolocation, machine maintenance data, transactions activity, and more, to enhance their analytics and extend past the initial use case.
Discrete and process manufacturing will be the biggest source of IoT spending in APEJ, followed by consumers and the government, respectively. Companies continue to extend economic activities to get back to normal, which has boosted the enthusiasm of the associations. Accelerating technology acquisitions, particularly in manufacturing, retail, construction, and consumer sectors are in focus. Sectors that will encounter the quickest growth are Construction and Retail.
Use cases that are pushing IoT spending growth are manufacturing operations, omnichannel operations, smart homes, and freight monitoring, which follow a comparable pattern—with spending evolution as host sectors. The use-cases connected to healthcare such as bedside telemetry, and remote healthcare monitoring will continue to be one of the swiftest-growing use-cases, along with omnichannel operations and connected vehicles. From a geographical standpoint, China, Korea, and India will account for more than three-fourths of total IoT spending throughout the forecast period, followed by Australia and Indonesia. Improved focus on developing smart infrastructures is the main driving element for the IoT growth in the countries across the APAC region.