Upcoming Trends in Internet of Things Retrofitting for Smart Manufacturing in Asia/Pacific
Description
Upcoming Trends in Internet of Things Retrofitting for Smart Manufacturing in Asia/Pacific
The digital future of the manufacturing industry is built on the foundation of Industry 4.0. The process of converting outdated machinery to meet Industry 4.0 standards reduces the need to acquire new facilities and reequip plants. For long-term success, industrial organizations require linked processes and networked equipment. The widespread ideas that keeping up with technology and constantly changing customer requirements is linked to a short equipment life cycle are no longer valid. In the past few years, some of the prominent countries in Asia/Pacific had shown tremendous growth in terms of retrofitting Internet of Things (IoT) for manufacturing applications. By 2026, over half of all IoT devices are forecast to be transported to Asia/Pacific, a development that will radically transform the region's industrial landscape. Singapore, already a technological leader in Asia/Pacific, sees industrial IoT (IIoT) as a means of attracting new industrial investment. It is positioning itself as a thought leader in the field.According to Piyush Singh, senior market analyst, IDC's IoT Insights Team, "Most traditional manufacturing plants were not built with cybersecurity in mind, and because hacking technology has advanced, every point of connection increases the danger of cyberattacks and cybercrime, which can result in interference, remote access, intellectual property theft, and data loss or change. Retrofitting machinery with IoT capabilities is a cost-effective solution to update outdated pieces of equipment, especially when compared with totally replacing them."
Please Note: Extended description available upon request.
The digital future of the manufacturing industry is built on the foundation of Industry 4.0. The process of converting outdated machinery to meet Industry 4.0 standards reduces the need to acquire new facilities and reequip plants. For long-term success, industrial organizations require linked processes and networked equipment. The widespread ideas that keeping up with technology and constantly changing customer requirements is linked to a short equipment life cycle are no longer valid. In the past few years, some of the prominent countries in Asia/Pacific had shown tremendous growth in terms of retrofitting Internet of Things (IoT) for manufacturing applications. By 2026, over half of all IoT devices are forecast to be transported to Asia/Pacific, a development that will radically transform the region's industrial landscape. Singapore, already a technological leader in Asia/Pacific, sees industrial IoT (IIoT) as a means of attracting new industrial investment. It is positioning itself as a thought leader in the field.According to Piyush Singh, senior market analyst, IDC's IoT Insights Team, "Most traditional manufacturing plants were not built with cybersecurity in mind, and because hacking technology has advanced, every point of connection increases the danger of cyberattacks and cybercrime, which can result in interference, remote access, intellectual property theft, and data loss or change. Retrofitting machinery with IoT capabilities is a cost-effective solution to update outdated pieces of equipment, especially when compared with totally replacing them."
Please Note: Extended description available upon request.
Table of Contents
8 Pages
- Executive Snapshot
- Situation Overview
- Benefits of Retrofitting in APEJ
- Retrofit Wireless Connectivity
- Challenges of Retrofitting for Industry 4.0
- Security Issues in Smart Manufacturing
- Advice for the Technology Buyer
- Key Developments for Industry 4.0
- Impact of 5G on IT Spend
- Malaysia Receiving the Most Investments in 2021
- Domestic Initiatives in Australia to Address the Chip Shortage
- Singapore's 2030 Manufacturing Plan
- India–Singapore Summit 2022
- Summary
- Use Cases
- Learn More
- Related Research
- Synopsis
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