China’s Xinhua agency has reported that the country’s Internet of Things (IoT) business has recorded revenue at about 73 percent in 2018 from a year earlier.
It has quoted a report from the Ministry of Industry and Information Technology. Among other reasons, the news agency attributed the fast growth of the IoT market in China to 4G and due to a rise in use of smartphones, along with other reasons.
The country’s three major telecom service operators — China Telecom, China Mobile and China Unicom — saw their IoT users increase by 400 million in 2018, bringing the total number of to 671 million at the end of last year.
Tech and internet giants such as Huawei and Alibaba also entered the industry, which made IoT part of ordinary people’s lives, said the report.