Shanghai IoT Industry

　　The Internet of Things (IoT) industry, a key component of the information technology industry, has seen significant growth globally in recent years. The following is a detailed analysis of the IoT industry:

　　I. Industry Overview

　　1.Definition

　　Internet of Things (IoT) refers to the connection of any object to a network through information sensing devices and according to an agreed protocol, where objects exchange information and communicate through information dissemination media to achieve intelligent identification, positioning, tracking, supervision and other functions. The Internet of Things originated in the field of media and is the third revolution of information technology industry.

　　2. Industry Chain Structure

　　The industry chain of Internet of Things can be divided into upstream RFID, sensors, chip manufacturers, application equipment providers, midstream telecom operators, middleware and application developers, and then downstream system integrators and direct customer-facing service providers.

　　Market Status

　　1. Global Market

　　According to the forecast of the World IoT Congress, the value of the global digital economy driven by IoT technology will exceed $20 trillion in 2024 and is expected to exceed $40 trillion by 2030.

　　The number of IoT connections continues to grow, and the number of global IoT device connections has reached about 16.8 billion in 2022 and continues to grow rapidly.

　　2. China Market

　　China has made remarkable achievements in the field of IoT and has become one of the largest IoT markets in the world. It is predicted that the number of IoT connections in China is expected to exceed 2.3 billion in 2024, with a year-on-year increase of 30%.

　　In terms of market size, the national IoT market will be approximately RMB 3.05 trillion in 2022, a year-on-year increase of 15.97%. By 2023, the market size is even higher at 3.5 trillion yuan, and the national IoT market is expected to reach 4.31 trillion yuan in 2024.

　　The application scope of China's IoT industry continues to expand, covering a wide range of fields such as manufacturing, agriculture, transport and vehicle links, medical care, and public life.

　　Third, technological progress

　　IoT technology continues to innovate and is beginning to involve multiple fields such as artificial intelligence, big data, cloud computing, and so on.

　　As a technology-intensive industry, IoT gateway involves a variety of hardware functions such as sensing, communication, computing, interaction, etc. Large-scale enterprises spanning the entire industry chain have not yet emerged, but there is sufficient competition in the industry, especially in areas such as communication modules.

　　Development trend

　　1. Continuous growth in market size

　　It is expected that in the next few years, the size of the global Internet of Things market will see rapid growth. China in the ‘14th Five-Year Plan’ period, the Internet of Things industry will also maintain rapid growth, the average annual compound growth rate of about 23% -26%.

　　2. Application areas continue to expand

　　IoT technology will further penetrate into industrial R & D, manufacturing, management, service and other business processes, as well as agriculture, transport, retail and other industries.

　　Consumer Internet of Things application market potential will be gradually released, whole-house intelligence, health management wearable devices, smart door locks, car intelligent terminals and other consumer areas of the market to maintain high growth.

　　3. New smart city full landing

　　The construction of new smart cities will bring IOT scale application and open-loop application, and promote the wide application of IOT technology in urban governance, public services and other fields.

　　4. Security is becoming increasingly important

　　With the increasing number of IoT devices, security issues are becoming more and more prominent. More security awareness and funds need to be invested to ensure the security and stability of the IoT environment.

　　V. Summary

　　As an important part of the information technology industry, the Internet of Things industry has a broad development prospect and great market potential. With the continuous progress of technology and the expansion of application fields, the IoT industry will continue to maintain a rapid growth trend, providing strong support for the digital transformation and intelligent upgrading of the global economy. At the same time, it is also necessary to pay attention to security issues to ensure the healthy development of IoT technology.