Global IoT market to expand from NT$97.6 billion to NT$362 billion in 2020
TUV Rheinland shared market research data on IoT in its paper titled "2017 Taiwan IoT Technology White Paper".
Finding reported in the release includes:
1. It is estimated that the number will increase to 204 million in 2020, 3.2 times higher than that of 2015, and over 60% will be used in the consumer market.
2. The scale of the global IoT market will expand from NT$97.6 billion to NT$362 billion in 2020, with a compound annual growth rate (CGAR) of 30%.
3. The scale of Taiwan's IoT market will increase from NT$3.7 billion in 2015 to NT$14 billion in 2020, with CGAR (Compound Annual Growth Rate) at 30.5%, a little higher than that of the global market.
4. Over 180 Taiwanese businesses are engaging in IoT development at the application layer, network layer, and perception layer; businesses at different levels are facing different challenges. To application layer providers, creating differentiated and localized innovative thinking is the main challenge. To network layer providers, how to build an open and interoperable platform to form a scale and thereby accelerate the development of Taiwan's IoT ecosystem against the globally versatile IoT standards is the main challenge. To perception layer suppliers, how to improve the core sensor technology and the competence for hardware and software integration is the main challenge of development.
Lot more information is covered in the paper which is available at:
Download now at https://go.tuv.com/TW-2017IOT-whitepaper