Taiwan to benefit from emerging IoT, big data sectors

28 May

Big data and the Internet of Things (IoT) will bolster Taiwan’s information services industry, helping it to grow from NT$156.7 billion (US$25.2 billion) in 2015 to NT$176.3 billion (US$5.78 billion) in 2018, according to the Market Intelligence & Consulting Institute (MIC).

Big data is a term that describes the use of predictive analytics to extract value from a large amount of information while the IoT refers to connecting different devices, including smartphones, home appliances and entertainment systems to each other and the Internet.

Meanwhile, MIC expects the cloud technology-based segment in the information services sector to be the top performer, enjoying a 9.3% increase in its compound annual growth rate over the next four years, ahead of 4.2% increase in the system integration segment, and a 3.8% increase in the outsourcing segment.

Taiwan’s software industry will also benefit from the emerging big data and IOT sectors, the Want China Times reported. The island’s software industry is forecast to increase from NT$71 billion (US$2.3 billion) this year to NT$80.3 billion (US$2.6 billion) in 2018.

In Taiwan’s software industry, the embedding software segment is expected to grow the fastest at 9% on a compound annual basis, followed by the package software segment at 6.6%, and solutions for corporations at 2.8%, MIC said.

(picture: wikipedia)

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