From smart cities to connected homes to connected cars, across APAC, statistics reflect promising returns for tech companies and a range of industries already making a beeline for the region.
IHS predicts there will be at least 88 smart cities worldwide by 2025, and APAC will account for 32 of them or more than 30% share. According to forecast, the APAC smart home market will grow to USD26 billion in 2022 and surge to USD115 billion by 2030, accounting for more than 30% of global share.
The global connected car market is estimated to reach USD96 billion by 2022, at a CAGR of 20.1% in the period 2016–2022, with the APAC region recording a CAGR of 25% or more during the same period. And with 5G being a precursor to creating greater demand for internet of things (IoT) services, industry reports are also projecting adoption in APAC to reach 1.14 billion subscribers by 2024, accounting for 65% of global 5G subscriptions.
In this decade, we could certainly expect the world that we live in to be more predictive and personalized, as well as more pre-emptive to our needs, with a wide range of products and services being integrated into key interfaces and delivered to consumers as experiences powered by ambient computing.
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