The Internet of Things is an important technical support for the development of smart meters, and the Internet of Things itself focuses on expanding the application field, which can expand many new markets for the instrumentation industry and create greater value, such as energy saving and emission reduction, urban planning, environmental monitoring and other fields can be further improved by smart meters as the source.
The domestic industrial chain and industrial system of the Internet of Things have taken shape, and the industrial scale has grown rapidly. At present, China's automatic control, information sensing, radio frequency identification and other technologies and industries required for the development of the Internet of Things have been mature or basically mature, communication operators and system equipment providers have reached a world-class level, and downstream applications are constantly expanding. At present, the Internet of Things has been more mature in security monitoring, intelligent transportation, smart grid, intelligent logistics and so on.
At present, the scale of China's Internet of Things market continues to expand. In 2016, the scale of China's Internet of Things industry reached 930 billion yuan, an increase of 24% year-on-year, and it is expected that by 2020, the overall scale of China's Internet of Things industry will exceed 1.8 trillion yuan.
Figure 4: Size and growth of China's Internet of Things market from November to 2017 (unit: 100 million yuan)