China Internet of Things New Species Enterprise Report Released: Wuxi Ranks Fourth, Suzhou and Nanjing Enter the Top Ten
Wuxi, Suzhou, and Nanjing have made significant strides in the field of Internet of Things (IoT) new species enterprises, according to the recently released “China Internet of Things New Species Enterprise Development Report 2023.” The report, unveiled in Wuxi on October 23, provides insights into the latest trends, investment patterns, and urban distribution of IoT new species companies in China.
The data showcased in the report reveals that China is set to witness a total of 168 new IoT species companies in 2022. Wuxi secured the fourth position, boasting nine companies, while Suzhou and Nanjing made it to the top ten.
Prepared by Great Wall Strategy Consulting, the report illustrates the growth of new IoT species companies across various sectors. In terms of the perception layer, network layer, platform layer, and application layer of the IoT industry, 59, 7, 8, and 94 new species companies emerged respectively. These companies are spread over 32 different tracks that encompass AISoC chips, communication chips, satellite communications, cloud services, collaborative robots, and warehousing and logistics robots.
Of the 59 new species companies in the perception layer, 52 are focused on the chip field. The network layer has seen the emergence of seven new species companies, with two tracks—satellite and 5G communications—gaining significant attention. The platform layer, on the other hand, witnessed the rise of eight new species companies specializing in cloud services, big data, and blockchain. Meanwhile, the application layer saw 94 new species companies making major breakthroughs in medical robots across 18 tracks.
The report also highlights the city-wise distribution of these new IoT species companies. The five major cities—Beijing, Shanghai, Shenzhen, Guangzhou, and Wuxi—are home to 113 new IoT species companies, accounting for 67.3% of the total count in China. Among these cities, Beijing boasts 40 companies, Shanghai has 32, Shenzhen has 24, Wuxi has 9, and Guangzhou has 8. Hangzhou and Suzhou both have 7, while Nanjing has 6.
In terms of urban agglomeration, the Yangtze River Delta has witnessed the emergence of 72 new IoT species companies, followed by the Beijing-Tianjin-Hebei region with 44, and the Guangdong-Hong Kong-Macao Greater Bay Area with 34. These three areas account for 42.9%, 26.2%, and 20.2% of the total count of new IoT species companies in China, respectively.
Furthermore, the report sheds light on the distribution of these new species companies in national high-tech zones. Out of the total, 112 companies are located in national-level high-tech zones, which accounts for 66.7%. Notably, Beijing Zhongguancun Science and Technology Park leads the way with 40 new species companies, followed by Shanghai Zhangjiang High-tech Industrial Development District with 23, Shenzhen High-tech Industrial Development Zone with 10, and Wuxi High-tech Industrial Development Zone with 7.
The report predicts that China’s IoT unicorn companies’ total valuation will surpass $120 billion in 2022, with an average valuation of $2.51 billion. These new species enterprises are increasingly becoming key drivers and growth points in the IoT sector under the new economic conditions. For various regions, fostering these enterprises and building an innovation and entrepreneurship ecosystem for them are vital measures for industrial upgrades and promoting high-quality economic development.