Vice President of Huawei Enterprise BG: China will become the world’s largest IoT market in the future

According to news on October 22, the 2023 World Internet of Things Wuxi Summit was held on October 21. During the summit, Xue Ming, Vice President of Enterprise BG of Huawei and Director of the National Broadband Mobile Communications Core Network Engineering Technology Research Center, published the "Intelligent Connectivity of Everything" ：Consolidating the cornerstone of the digital economy” keynote speech.

Xue Ming believes that the next 10 years will be the golden period for the development of the Internet of Things, in which all devices, terminals and sensors will be based on IoT (Internet of Things, Internet of Things) to achieve full perception and digitization of the Internet of Things. The Internet of Things will develop to hundreds of billions of connections in the next 5-10 years, creating a trillion-dollar market. At the same time, he also said that 25.9% of this market will come from China, and China will become the world's largest IoT market.

During the 2023 World Internet of Things Expo held at the same time, Xu Xiao, Vice Minister of the Ministry of Industry and Information Technology, said that the Ministry of Industry and Information Technology will implement the deployment of the National New Industrialization Promotion Conference, formulate relevant policies and measures, promote the construction of new infrastructure such as the Internet of Things, and accelerate the advancement of new industrialization .

It is understood that according to data from the Ministry of Industry and Information Technology, as of September this year, the number of cellular IoT end users in my country reached 2.148 billion, the number of IoT companies exceeded 8,000, and the industry scale was close to 3 trillion yuan, maintaining a rapid growth trend. In addition, my country has now built the world's largest narrowband IoT, 4G and 5G networks, which can provide differentiated network services based on the needs of various application scenarios.

According to research by market research firm IDC, 60% of enterprises are currently using or will soon use IoT services.

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