South Korea tops IDC’s Asia Pacific 2017 IoT readiness index

South Korea tops IDC’s Asia Pacific 2017 IoT readiness index
The top three countries in Asia Pacific excluding Japan (APeJ) that are the most capable and ready to generate efficiencies linked to IoT solutions are South Korea, Singapore and New Zealand, says a new IDC report.

South Korea ranked well in all measures of stature, business readiness and technological preparedness. Singapore and New Zealand also did fairly well in these measures. Other countries included in the benchmarking exercise are China, Taiwan, Hong Kong, Australia, India, and ASEAN countries (Malaysia, Thailand, Indonesia, Philippines and Vietnam).

The APeJ loT market is forecast to grow from $335.6 billion in 2016 to $565.5 billion in 2020 as the global IoT landscape continues to mature, IDC says. With such growth and business opportunities at hand, loT vendors and service providers are faced with an increasingly complex set of choices as to which markets to enter to gain the most value and globalize their offerings.

The IDC report provides a comparative assessment of APeJ countries’ readiness for sustained IoT adoption, as well as their ability to facilitate its accelerated development.

“Knowing where a country stands in the loT index will help global and local IT vendors identify the opportunities that lie ahead of them as they line up their strategies at federal, local, and enterprise levels,” says Hugh Ujhazy, Associate Vice President for the IoT research at IDC Asia Pacific.

Some highlights from the assessment

South Korea scores extremely high on all measures, including IoT spending as a percentage of GDP. It show that South Korea is performing well on current IoT-specific spending levels and has a strong business environment that fosters innovation and promotes attractive investment opportunities for IoT vendor and end users.

Singapore’s cloud infrastructure, broadband penetration plus ease of doing business and startup/ business friendly government environments make it an excellent incubator for IoT solutions in the region.

New Zealand scores exceptionally high on measures such as ease of doing business and startup procedures, government effectiveness, regulatory quality, and innovation, all of which point to necessary components for a business environment that is ready for the growth of the IoT.

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