The scale of the Internet of Things industry has exceeded 600 billion yuan or will drive the development of the POS industry.

At the 5th China Internet of Things Conference, participants pointed out that in 2013, the scale of China's Internet of Things industry exceeded 600 billion yuan. The Internet of Things industry is shifting from a concept to an important component of stimulating information consumption. Industry insiders predict that by 2015, the scale of the Internet of Things industry is expected to be close to one trillion yuan, with an average annual compound growth rate of 35%.

Since the beginning of this year, many ministries and local governments have issued a number of policies to promote the development of the Internet of Things industry. In January this year, the Ministry of Agriculture launched an annual summary of the agricultural Internet of Things regional trial project in Shanghai. Yu Xinrong, deputy minister of agriculture, stressed that it is necessary to fully promote the construction of agricultural Internet of Things and accelerate the development of modern agriculture. It is understood that the Wisdom Wuxi Construction Three-Year Action Plan (2014-2016) has recently arrived, and will contribute nearly 100 million yuan each year to support the construction of smart cities.

Analysts pointed out that the Internet of Things will be widely used in smart logistics, mobile commerce, food traceability, smart home, smart city management, etc. These areas will drive IC cards, RFID tags, NFC smartphones, mobile POS machines, software platforms. And other related developments.

It is understood that the Ministry of Industry and Information Technology, the National Development and Reform Commission and other ministries and commissions have set up special projects for research and development, industrialization and information security of the Internet of Things, involving more than 10 billion yuan of investment. The demonstration of Internet of Things applications will be the focus of this year's special subsidies, especially in the areas of geographic information, smart cities, transportation and other cross-application demonstrations.