Driving Business Value Through IoT Adoption
Ken Ting, TZ Limited Executive Director and Company Secretary, recently gave a keynote presentation showcasing TZ’s IoT developments and capabilities at IoT Asia, Singapore 2015. TZ was also an exhibitor at the event showcasing their PAD SMArt Locker technology and IXP Data Center security solutions.
According to a recent IDC report (February 2015), the Internet of Things market size in Asia Pacific excluding Japan (APeJ) will grow from USD 408 billion in 2013 to USD 862 billion in 2020, a CAGR of 11.3%. Significant growth also is forecast in the number of autonomous intelligent/embedded systems, or “things”,that will connect to the internet in APeJ, with the number growing from 2.59 billion in 2013 to 8.98 billion in 2020.
So what is driving IoT solution adoption in Asia Pacific? From the supply side, the past year has seen an explosion of new IoT-related solutions, including consumer wearables devices, smart home products and industrial IoT solutions, and these solutions are being increasingly adopted across the consumer, enterprise and government segments. From the demand side, the presence of a strong manufacturing base with pervasive wireless and wireline broadband infrastructure presents the most ideal environment for IoT to flourish. As expected, the Asia Pacific markets of Australia, China Hong Kong, New Zealand, Singapore, South Korea and Taiwan are leading the way on a “things” per capita basis, with a significant gap between the more developed countries and the developing markets of ASEAN and India.
(Source by: IDC Asia Pacific, Research Partner, IoT Asia 2015)