China’s market for connected devices – including smartphones, tablets, M2M and other electronics – will be worth six times its present value by 2020, according to analysis conducted by Machina Research in conjunction with the GSMA. Currently, the market is valued at around US$116 billion, but this figure is expected to surpass US$700 billion over the next eight years.
Michael O’Hara, Chief Marketing Officer at the GSMA, said: “China is not only the world’s largest mobile market, with more than one billion total mobile connections, but is using this to its advantage by creating new applications, products and services that can improve people’s daily lives and advance its economy.”
He added: “China has positioned mobile technology at the centre of its expansion, from a booming car industry to the rapid development of new ‘smart’ cities, creating efficiencies and consumer benefits through cross-industry collaboration.”
Machina Research’s Director Matt Hatton added: “There is little doubt that the biggest impact in the region will be felt in China. As its economy continues to grow, China is increasingly turning to technological solutions to address some of the challenges caused by this growth, whether it is the use of smart meters to manage electricity demand, or road monitoring solutions to manage congestion caused by growing car ownership. The Chinese government has demonstrated its willingness to introduce innovative M2M technologies and embrace the Connected Life for the benefit of its citizens.”