China's IOT market size to top 200 bln yuan in 2010

The market size of China's Internet of Things (IOT) industry is expected to top 200 billion yuan (about 30 billion U.S. dollars) in value this year, a report said Thursday.

The market size of the sector is further forecast to top 750 billion yuan by 2015, said an IOT report compiled and released Thursday by the Xinhua News Agency.

Last year, the IOT technologies were used in a range of areas including home safety, electric power safety, public security, health monitoring, and environmental protection, creating businesses worth 170 billion yuan, said Zhou Xisheng, vice president of Xinhua News Agency while announcing the report.

The report was released at the three-day 2010 International Internet of Things (sensor network) Conference and Exhibition, which opened Thursday in Wuxi, east China's Jiangsu Province.

The report said the government should roll out relevant policies that would unite efforts from companies, industrial associations and academic institutions in research and development of IOT technologies.

It also said more capital should be invested in IOT research efforts in order to push forward technological innovation and improve global competence.

Source: Xinhua