Singapore, Feb 18 (Ians) The spending on Internet of Things (IoT) in the Asia-Pacific region will rebound in 2021 to reach $288.6 billion at a compound annual growth rate (Cagr) of 11.7 per cent, according to a new Idc report.
On a geographical perspective, China, Korea, and India will account for more than three quarters of overall IoT spending in the region in 2021, followed by Australia and Indonesia.
Countries that will see the fastest IoT spending are China, Malaysia and Hong Kong.
The Asia-Pacific spending on IoT was deeply impacted in 2020 due to the pandemic hitting major economies in the region, with spending growth descending to 7.1 per cent (YoY) -- down from the 12.5 per cent forecast prior to Covid-19.
Industries which were highly impacted by the pandemic suffered reduced IoT investments in line to their reduction in overall It spend.
With resumption of economic activities in the region due to better control of pandemic,...
On a geographical perspective, China, Korea, and India will account for more than three quarters of overall IoT spending in the region in 2021, followed by Australia and Indonesia.
Countries that will see the fastest IoT spending are China, Malaysia and Hong Kong.
The Asia-Pacific spending on IoT was deeply impacted in 2020 due to the pandemic hitting major economies in the region, with spending growth descending to 7.1 per cent (YoY) -- down from the 12.5 per cent forecast prior to Covid-19.
Industries which were highly impacted by the pandemic suffered reduced IoT investments in line to their reduction in overall It spend.
With resumption of economic activities in the region due to better control of pandemic,...
- 2/18/2021
- by IANS
- GlamSham
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