Wuxi’s IoT industry continues to accelerate
With more investments in the internet of things (IoT) industry from various domestic firms and the expansion of the IoT applications market to foreign countries, Wuxi’s IoT industry has accelerated, promoting an industrial agglomeration effect.
Among the major firms seeking IoT business opportunities in Wuxi are Alibaba, China Electronics Technology HIK Group Co Ltd (CETHIK), AstraZeneca and Huawei, which invested in the Hongshan IoT town for a string of IoT projects in November last year.
Wuxi companies have signed contracts to build IoT projects in more than 400 cities from over 30 countries, including Envision’s smart wind management system Wind OS™, BayNexus’ medical IoT platform, Wisen’s monitoring system and Fofia’s animal ID microchips.
The city has promoted IoT to the country by conducting 17 key demonstration projects confirmed by national management departments, including an IoT-based electric vehicle anti-theft system project for the Ministry of Public Security which has been promoted in 16 provinces.
Wuxi also encourages corporations to explore new business models, develop new products, provide new services and seek out value added service in the IoT industry. World Sensing Net (WSN)’s IoT finance, Chigoo Interactive Technology’s "i3Q cTrolley", Heilan Group’s smart storage and CR Pharmaceutical’s logistics intelligence have all achieved prominent results.
At the end of 2016, there were nearly 2,000 IoT companies in Wuxi, earning revenues of 204.5 billion yuan ($30.23 billion), increasing 9.3 times from 2009. An IoT industry chain, including sensors, communications, On-Line Transaction Processing (OLTP) and basic support, has rapidly formed in Wuxi.