APAC Becomes the Leading IoT Global Spender

The private and government enterprises of the Asia-Pacific region are making heavy investments in the Internet of Things (IoT) technology for enhancing efficiency and productivity and building the smart city foundations. The region is anticipated to turn out as the leader of IoT spending across the globe for the current year. This region is currently boosting near about 37% of the global spend. This numerical is followed by Western Europe and the United States with near about 26% of the global share.

By the recent Worldwide Semiannual Internet of Things Spending Guide of the International Data Corporation (IDC), China was the leading spender of the Asia Pacific (APAC) region in 2018, with a total bill of 159.1 dollars. This was followed by South Korea and India with total spending of 22.6 billion dollars and 19.6 billion dollars respectively. By the year 2022, the anticipated APAC spending would most expectantly rise to 381.8 billion dollars.

The Senior Research Manager of IDC, Ashutosh Bisht said, “The per capita IoT spending among the APEJ countries is quite varied, it is primarily related to the demographics, broadband penetration, coverage and capacity of the nation’s infrastructure, including telecommunications, modernity of commercial buildings, firm demographics, highways, and electricity/gas/water distribution.”

Further, he added, “South Korea is the top APEJ country in terms of per capita IoT spending followed by Australia and New Zealand. The key drivers of IoT penetration will include the proliferation of cloud-based back-end services for data acquisition and analytics, and 5G fixed wireless deployments that are expected in Australia, New Zealand, and the Philippines before 2020.”

As per the latest IoT news, the three highest-spending industries in the year 2018 are- Discrete Manufacturing (43.9 billion dollars), Process Manufacturing (33.2 billion dollars), and Utilities (20.1 billion dollars).