Photo: iStock
Photo: iStock

“Internet of Things is on the eve of an outbreak,” Caixin reported, quoting Li Qiang, Jiangsu Provincial Party Secretary at the 2017 World Internet of Things Expo held on Sunday in Wuxi City, Jiangsu Province.

“The growth of Chinese Internet users is slowing, and the eyes of the entire technology industry are increasingly turning onto Internet of Things,” Li said in his speech.

“Internet of Things has become the strategic option for many countries to seize commanding power. Major technology giants have also began large-scale investment as well as mergers and acquisitions. A new industrial chain is about to form.”

In the Internet of Things era, Li believes a new generation of giant enterprises are likely to rise from start-up enterprises, and some might also may be formed by Internet giant transitions.

To foster the industry, the government should encourage experimentation, liberalize the market and promote the formation of Internet of Things through the construction of a public service platform, he said.