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Laxman Pai, Opalesque Asia: Through the application of Internet of Things (IoT) technologies, private capital is delivering smart homes, factories, and cities in APAC, changing the way people live, work, and play, said Preqin.
By 2023, APAC expenditure on IoT is likely to near $400bn, excluding Japan. The region led the US and Europe in IoT spending last year, with China, India, and South Korea recording the biggest outlay among APAC countries.
Preqin data suggests there is a strong investor appetite for the sector in APAC. Between 2015 and 2019, the number of APAC IoT venture capital deals grew at a CAGR of 38%, while aggregate deal value registered a CAGR of 86% over the same period.
Despite headwinds caused by COVID-19, 159 IoT venture capital transactions took place in APAC in H1 2020, up 38% from the same period last year. Besides, Q2 2020 saw $969mn in aggregate deal value, representing a 66% increase compared with Q2 2019.
Investors continue to pour capital into the smart home sector. Preqin data shows that $1bn was raised over 50 transactions last year for APAC start-ups targeting smart home use-cases. That translated to a CAGR of 27% and 77% for deal count and value respectively between 2015 and 2019.
APAC is set to see exponential growth in the smart home industry, with market size projected to reach $14bn this year, according to a report by global consultancy firm AT Kearney.
By 2030, this is forecasted to grow almost 10x to $116bn, account...................... To view our full article Click here
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