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The Asia Pacific Internet of Things (IoT) industry is expected to reach USD436.8 billion by 2026. The region's combined investment in smart cities is approximately a third of the total.
FREMONT, CA: The Asia Pacific Internet of Things (IoT) industry is expected to reach USD 436.8 billion by 2026. According to Frost & Sullivan, the region's IoT market is fast changing due to big trends including edge computing and new narrow-band (NB) IoT installations. The APAC IoT market's expected revenue in 2026 will exceed USD96.9 billion in 2020, according to Frost & Sullivan. The value for 2026 reflects a CAGR of 28.52 %. Increased investments in 4G/LTE and 5G, lower IoT sensor prices, and government assistance could help accelerate this expansion. The region's combined investment on smart cities is approximately a third of the total, followed by transportation and logistics and manufacturing.
According to Frost & Sullivan ICT research analyst Hemangi Patel, the APAC area contributes for around 40% of worldwide Low Power Wide Area (LPWA) connections, with narrow-band IoT (NB-IoT) accounting for 97%. Globally, the COVID-19 epidemic slowed clients' transformation journeys in various industries, according to Frost & Sullivan research. However, opportunities for IoT providers should develop over the next five years as the sector matures. The analytical group believes telecom operators would be able to benefit from the region's predicted IoT industry expansion. To achieve this, telecom suppliers need to expand their service portfolios to include connection management, data security, and data routing.
Furthermore, Frost & Sullivan recommends that cloud providers incorporate collaboration capabilities that allow clients to exchange information on a single platform. Manufacturers and smart cities efforts also create opportunities for suppliers that can offer integrated IoT solutions and build horizontal skills. The industry is adopting new technologies like predictive maintenance and remote monitoring. Smart cities need smart lighting, security, and trash management, according to the business. Ingram Micro, a worldwide technology distributor, said in April last year that it will develop global IoT centres of excellence, focusing on important verticals, services, and solutions.