CHINA VS USA: CHINA WILL WIN THE RACE OF INTERNET OF THINGS
As per the global market research company International Data Corporation (IDC), China will outperform the UnitedStates in 2024 in the China vs. USA race to become the world’s largest Internet of Things (IoT) market. At the cusp of another technological revolution, the current fact remains. A few new technologies such as 5 G, Internet of Things, artificial intelligence, robotics, 3D printing, autonomous systems, cloud computing, and blockchain are driving the revolution, all driven by data. It’s interesting that, under the influence of Trump, the US went the other direction to China. In August, Trump signed a $716 billion defence strategy bill as well as tightening legislation to curb Chinese participation in US innovation. China’s investment in management platforms is vital to its ability to oversee and provide infrastructure on a global scale. The Industrial IoT (IIoT) is the location where the money is at the end of the day. The Americas rules the world in IoT ventures covering: Connected Industries (45 percent), Connected Building (53 percent), Connected Vehicle (54 percent), Smart Energy (42 percent), Connected Health (55 percent), Smart SupplyChain (49 percent), and Smart Retail Chain (49 percent), as per a January 2018 IoT Analytics study (53 percent ). According to the report’s numbers, China’s IoT spending is expected to hit around US$300 billion by 2024, with the compound annual growth rate staying at 13 percent over the next five years.