According to a report from global research firm Omdia, the APAC region is set to witness unprecedented IoT growth.
The researchers note that APAC has lagged behind in ‘Full IoT Deployment’ within enterprises (38% for APAC versus 42% in the ‘Rest of the World’). However, spending is on the increase and the spare growth capacity is set to cause a surge in adoption.
Over 38.9 billion IoT devices are forecast to be deployed by 2030. Revenue from cellular IoT modules is also set to continue growing (22%) between 2021 and 2026, while a decline of one percent is expected over the same period in the Rest of the World.
“This is no longer driven by just the desire to improve business processes, but by a critical mass of external factors from economic, social, and technological viewpoints,” explained Omdia.
“Alibaba, Tencent, and Baidu are among the tech giants driving China’s rapid adoption of the IoT. Consequently, the IoT has branched out and grown across other industries including manufacturing, healthcare, and retail.”
Omdia conducted its Asian IoT Megatrends report on behalf of connectivity provider Telenor IoT.
“Clearly, digitalisation and sustainability are moving to the core of companies’ future strategies. IoT and digitalisation are no longer an option for enterprises in the region, but a necessity—as technology hardware, connectivity, and software take centre stage in the digital future,” commented Seth Ryding, CSO and Head of Telenor IoT Asia.
“As no other region is poised for IoT growth on the scale of APAC, the mega-trends set out in this report can be used as a valuable guide for enterprises looking to be successful in an increasingly connected future.”
Telenor highlights the challenges that APAC nations face, especially with extreme population growth in cities. Combined with ageing populations, the IoT will be critical for meeting demands for energy, urban mobility, elderly care, and more.
A full copy of the report is available here.