What’s new: China’s Huawei Technologies Co. Ltd. and U.S. firms IBM Corp. and Microsoft Corp. have topped an annual ranking of the world’s 500 leading Internet of Things (IoT) firms.
The hard-tech focused ranking of companies that make IoT devices was published Friday by the Beijing-based industry group World Internet of Things Convention.
The group says it tracks a series of indicators including IoT research investment and output value, but does not release its detailed methodology. Companies are required to submit certain data to the group in order to be included.
Russia’s space agency Roscosmos was named fourth, above firms including Germany’s Bosch and Chinese electronics giant Haier.
The context: IoT refers to all kinds of objects — from watches to cars — that are able to connect to the internet and each other, as well as to the technology that facilitates those connections.
Wireless carriers and tech solution providers stand out in IoT development, He Qiang, general secretary of the Convention, told participants at a Friday meeting on the survey in Beijing.
Wireless carriers have taken advantage of their mass client base to expand their IoT business, while tech firms are selling IoT solutions, such as for smart manufacturing, which were initially developed for internal use, he said.
The value of China’s IoT market exceeded 1.7 trillion yuan ($251 billion) last year and is expected to top 2 trillion yuan this year, according to a report from the Internet Society of China, another industry group.
World Internet of Things Convention began publishing the survey in 2017. This year, firms from 91 countries and regions showed up in the ranking.
Related: Chinese IoT Platform Rootcloud Raises $122m Series C Led by IDG Capital
Quick Takes are condensed versions of China-related stories for fast news you can use.
Contact reporter Guo Yingzhe ([email protected]) and editor Heather Mowbray ([email protected])
Download our app to receive breaking news alerts and read the news on the go.
Get our weekly free Must-Read newsletter.