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Harnessing IIoT to Create Sustainable Manufacturing Growth
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The pervasiveness of digital technologies has reached a state of ubiquity in consumer products. Digitisation is gradually penetrating the manufacturing sector in order to produce cheaper and better consumer products. At times of uncertain and volatile economic conditions, manufacturers are seeking competitive advantages by modernising and upgrading their production methods. Industrialised nations such as Germany have paved the way forward in digitising their manufacturing capabilities through Industrie 4.0 or in broader terms, the Industrial Internet of Things (IIoT). This manufacturing transformation is rapidly catching on in Asia-Pacific with Japan, South Korea, and Singapore leading the way. Governments in APAC are looking to IIoT as a viable way to create sustainable manufacturing growth and affirm their role in the global supply chain. However, not all countries in APAC are ready for IIoT. In this study, Frost & Sullivan investigates the role of governments in promoting IIoT in APAC through initiatives, action plans, and funding schemes. As the manufacturing economies in APAC gradually embrace the fourth industrial revolution, bridging the gaps in infrastructure capacity is a prominent factor. Profiles of 8 export-intensive economies in APAC and their “IIoT-readiness” ranking are provided. The latter is a Frost & Sullivan methodology that utilises key economic indicators to objectively rank the Top 8 IIoT-ready countries in APAC. Specifically, this report addresses the following points: • How are governments supporting Industrial Internet of Things initiatives? • Which government agencies are contributing towards the development and deployment of the Industrial Internet of Things? • How much funding is available to manufacturers seeking assistance from public institutions? • Which countries in Asia-Pacific are ready to implement Industrial Internet of Things solutions? • What are the necessary foundations for the implementation of Industrial Internet of Things solutions? • How will the Industrial Internet of Things affect the workforce and what are the government’s responses to this? The outcome of this research pinpoints these strategic imperatives for growth: • IIoT adoption may lead to implementation of Smart Cities initiatives • Solution providers should position themselves to address this opportunity • Spending on IIoT solutions in emerging economies is likely to come from government agencies instead of the private sector • Marketing and business development campaigns should be appropriately aligned. IIoT solutions need to be tailored • Governments need to wholeheartedly follow through on their industrial digitisation plans, otherwise any prior investments will be futile • Whilst the fourth industrial revolution is beginning to take shape, government agencies should keep abreast with innovative developments and prepare for the next paradigm shift
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