Asia-Pacific Industrial IoT Platform Market, Forecast to 2021
Frost & Sullivan’s Mega Trends research shows that the next generation will have very different needs from the consumers of today. This new generation desires unique and personalized products, quickly and on-demand.
In the face of these changes in society, industrial companies are starting to react and change to remain competitive. To meet the needs of the consumers of tomorrow, industrial companies need to adapt and offer unique products targeted at profitable sub-segments, with highly flexible and agile operations.
However, most industrial companies in developing nations are still leveraging low-cost labor instead of investing in IoT. In more developed regions of the Asia-Pacific, many companies still exhibit a “wait and see” mindset, keeping abreast of the potentials benefits of IIoT, while still resistant to move forward from legacy and familiar work processes.
By using IoT sensors and data analytics, Industrial IoT projects can help companies gain visibility of operations so that managers can make decisions based on quantified data. This can lead to more efficient and agile operations, reducing unscheduled downtime and waste, while enhancing competitiveness.
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