This new IDC report provides a comparative assessment of APeJ countries’ readiness for sustained IoT adoption, as well as their ability to facilitate its accelerated development. The report reveals that the countries at the top of the index like South Korea, Singapore and New Zealand ranked well in all measures of stature, business readiness and technological preparedness.

Other countries included in the benchmarking exercise are China, Taiwan, Hong Kong, Australia, India, and ASEAN countries namely Malaysia, Thailand, Indonesia, Philippines and Vietnam.

IDC predicts that the APeJ loT market will grow from $335.6 billion in 2016 to $565.5 billion in 2020 as the global IoT landscape continues to mature. 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.

“Countries at the top of the index are more likely to have adaptability for efficiencies that IoT solutions can create, be more conducive for business and product innovation, and more likely to have access to the technologies that align with IoT use cases,” says Hugh Ujhazy, Associate Vice President for the IoT research, IDC Asia Pacific.

Ujhazy adds, “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.”