By The Nation
The projection is in its latest “Worldwide Semi-annual Internet of Things Spending Guide Asia/Pacific (excluding Japan)”, which was released on Tuesday.
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China will account for 64.2 per cent of the overall spending ($187.3 billion) in Asia-Pacific excluding Japan in 2018 and likely maintain its dominance with a five-year compound annual growth rate of 12.8 per cent during the forecast period, 2017-22.
Adoption of IoT technology in other countries in the region is also steadily gaining ground, with South Korea and India accounting for 9.8 per cent and 8.8 per cent respectively of overall technology spending in 2018.