And Asia Pacific will be at the forefront of adoption of the IoT, according to data published today by IDC.
IDC said that by 2020, 8.6 billion things will be connected and between then and now the total revenues from the Asia Pacific region – excluding for some reason Japan – will amount to $583 billion.
Charles Reed Anderson, the head of the IoT for Asia, said that there is a number of government initiatives, particularly in China, driving demand.
He said China will dominate the region, accounting for 59 percent of the market by 2020 and will dominate the world too, accounting for one in five every units in the country.
But even though China dwarfs the other Asian countries, it isn’t the “most mature”. Anderson believes South Korea, Australia and New Zealnd are showing the most maturity.
IDC tots up 43 device segments for the IoT, 19 industry verticals, and 12 components in the IoT web.