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IoT Spending in APAC to Reach $437B in 2025

Asia Pacific spending on IoT will expand by 9.6% in 2021, accelerating from 1.5% in 2020, according to IDC.

www.eetasia.com, Jan. 11, 2022 – 

Asia Pacific spending on Internet of Things (IoT) will expand by 9.6% in 2021, accelerating from 1.5% in 2020. The latest release of IDC's Worldwide Semiannual Internet of Things Spending Guide indicates a gradual growth of IoT market in the region across the forecasted years (2021-2025) and is expected to reach $437 billion by 2025 with a CAGR of 12.1%. This growth is driven by increased adoption of location tracking, facial recognition, remote working, cold chain logistics & tracking of vaccines, video-centric application, and deployment of 5G in the region.

"IoT in the Asia Pacific excluding Japan (APEJ) markets continues to grow steadily across multiple industries including transportation, retail, manufacturing, resources, and utilities driven by the increased capacity and reliability of fiber and cellular network infrastructure," says Bill Rojas, Adjunct Research Director at IDC Asia/Pacific. "In many Phase I projects enterprises focused on a single use case and on acquiring the data streams from single sources but as the organizations gain a deeper data-driven understanding of their operations, they can start to use other data sources (such as geolocation, machine maintenance data, weather, transactions activity, vehicular telemetric traffic data, and so on) to improve their analytics and expand beyond the original use case."

Discrete and process manufacturing will be the largest source of IoT spending in APEJ, with one-third of the shares in 2021, followed by consumer and government, respectively. Businesses continue to open, and economic activities get back to normal, which has increased the confidence of the organizations. Accelerating technology investments, especially in manufacturing, retail, transportation, construction, and consumer sectors are on focus. Industries that will experience the fastest growth in 2021 are Construction and Retail, with a growth of 13.1% and 13%, respectively.

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