Smart Cities to Fuel Growth of Asia-Pacific's Internet of Things Market by 2026, Finds Frost & Sullivan

APAC IoT market is expected to reach $436.77 billion in revenue by 2026; spending on smart cities accounts for almost one-third of the market. SANTA CLARA, Calif., April 22, 2021 /CNW/ -- Frost & Sullivan's recent analysis finds that Asia-Pacific's Internet of Things (IoT) market is rapidly being transformed by Mega Trends, including the integration of edge-computing networks into IoT systems and new narrow-band (NB) IoT deployments. Driven by growing investments in 4G/LTE and 5G, reduced IoT sensor costs, and government support, the buoyant APAC IoT market is expected to reach $436.77 billion in revenue by 2026 from $96.92 billion in 2020, growing at a compound annual growth rate (CAGR) of 28.52%.