Ministry of Industry and Information Technology and other nine departments: By 2028, the scale of the core Internet of Things industry will exceed 3.5 trillion yuan.

The Ministry of Industry and Information Technology and nine other departments have recently jointly issued the “Action Plan for Promoting Innovative Development of the Internet of Things Industry (2026–2028).” The plan makes clear that through five major initiatives—advancing innovative upgrades of Internet of Things devices, enhancing the service effectiveness of IoT platforms, cultivating IoT application scenarios, strengthening the network infrastructure foundation of the IoT, and fostering an ecosystem for the development of the IoT industry—it will promote innovative development of the IoT industry, further accelerate the comprehensive integration of IoT technologies into all areas of production, consumption, and social governance, promote deep integration between the digital economy and the real economy, and help develop new-quality productive forces. The Action Plan states that by 2028, new IoT technologies, new products, and new models will continue to emerge; the industry’s innovation capability will continue to strengthen; breakthroughs will be achieved in key technologies including sensing, networking and communications, data processing, and security; the level of intelligence in endpoints and platforms will be significantly improved; over 50 advanced and applicable standards will be developed and revised; 10 application areas with billion-level connections and 15 application areas with ten-million-level connections will be cultivated and built; the number of IoT endpoint connections will strive to reach a hundred-billion-level scale; and the scale of the IoT core industry will exceed 3.5 trillion yuan.