Asia-Pacific region continues strong adoption of mobile technologies
The Asia-Pacific region continues to be a leader in adopting new mobile technology and devices.
For example, spending on the Internet of Things (IoT) in the region is forecast by Frost & Sullivan to reach $58 billion by 2020, up from $10 billion this year. This marks a compound annual growth rate, or CAGR, of 34 percent.
Australia, China, Japan, Singapore and South Korea are early adopters of IoT technology, but India, Indonesia, Malaysia and Thailand will be the fastest growth IoT market in the region through 2017, predicts the market research firm.
"The Asia Pacific region is characterized by a large presence of manufacturing economies and has one of the largest production networks in the world. This is expected to drive spending on Internet of Things applications in telematics and supply chain visibility. Internet of Things spending in the manufacturing industry is expected to be one of the fastest growing markets in APAC, growing at a rapid rate CAGR of 52.7 percent between 2014 and 2020," says Andrew Milroy, vice president of the Asia-Pacific ICT practice at Frost & Sullivan.
While logistics and transportation make up the bulk of the IoT spending, the consumer segment is forecast to see "phenomenal growth" through 2017, says Milroy.
At the same time, the IoT market could face some challenges, including security and information privacy concerns, a lack of standardization and data sharing framework and power supply constraints.
In addition to being an early adopter of IoT tech, China is also one of the fastest growing and largest markets for mobile devices. In May, tablet shipments in China rose by 14.6 percent year-over-year reaching 1.9 million units, according to the latest IDC stats.
Shipments of commercial tablets reached 2.7 million in the first five months of 2014, while shipments of consumer tablets totaled 8.4 million units.
For the second half of 2014, IDC expects dominant tablet suppliers Apple and Samsung to face increasing competition from Chinese suppliers Huawei, Coolpad and Xiaomi.
- check out the Frost & Sullivan release
- see the IDC stats
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