8. China is betting big on the Industrial Internet of Things (IIoT)

China is betting big on the Industrial Internet of Things (IIoT).

The Chinese government projects the country’s Industrial Internet of Things to grow to 450 billion RMB (about $65 billion) by 2020 – occupying roughly one quarter of China’s whole IoT market. The IIoT segment in China has maintained a growth rate of more than 25 percent. At present, Chinese enterprises whose status can be described as Industrial 3.0 know they need a lot of improvements, especially in cost control, production efficiency and process management.

 

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