Internet of things (IoT) business in China is flourishing. According to a report from Ministry of Industry and Information Technology, the revenue raised by 73% in 2018, comparing to the year before. Three main county’s telecom services – China Mobile, China Telecon and China Unicom saw the number of their IoT users increasing by 400 million in 2018, with the total number of 671 million at the end of the year.
What exactly is IoT?
Internet of things is a system of connecting any electronic device to Internet, such as cellphones, washing machines, lamps, fridges, coffee machines, headphones and similar. It also applies to specific parts of machine-like engines. A thing for IoT can also be a person with a heart monitor implant, sensors in cars which alter the driver how to park the car etc. All these objects are able to transfer data over the network. IoT is used by a huge number of industries – it makes everyday life easier and more productive. Connectivity is improving energy efficiency, manufacturing and healthcare and it is enabling the rise of smart cities.
The appliances of IoT technology are numerous. We will present some examples from everyday life in China: sharing/rental economy: Organizations are offering product to rent for a certain period of time. We use many of these products on a daily basis, such as shared umbrellas, shared charging points, shared massages pods, Express cabinets and many others. All these devices are connected to internet. The best examples are sharing bikes companies such as Mobike, Ofo etc which allow their customers to unlock and rent the bike for a short period of time, with the help of their smartphones and park it later wherever they want. Other examples of IoT appliances are in China among others are: smart smoke detectors, smart parking, smart cities such as Longhua district in Shenzhen and many others.
Here are the examples of some startups that rely on IoT technology that got notable investments in 2018:
#Tuya – https://en.tuya.com/company– Tuya is an IOT solutions provider that helps manufacturers develop their app and bring their product to market and at competitive prices.
#Terminus Technologies – http://en.tslsmart.com/– Terminus Technologies is an Enterprise services company.
#Roadstar AI – http://roadstar.ai/– Roadstar.ai empowers cars and trucks with artificial intelligence, so as to make transportation safer, more enjoyable, more efficient.
#Helian Health – http://www.helianhealth.com/– Helian Health is a Chinese hospital WiFi and cloud-based app provider.
IoT market in China will still grow due to the constant use of smartphones and extensive usage of internet. The fact that tech giants such as Huawei and Alibaba also entered the industry which made it indeed ordinary part of people’s lives. 2019 will for sure bring a lot of innovations, we should stay updated and follow the trends this magnificent industry is brining! It is definitely a great time to be in China and witness the spectacular technological development on a daily basis! Stay tuned!