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Redding, California - July 4, 2024

South East Asia Industrial IoT Market to be Worth $6.87 Billion by 2030

South East Asia Industrial IoT Market by Component (Hardware, Platform, Services, Connectivity), Industry (Agriculture, Manufacturing, Energy & Utilities, Oil & Gas, Aerospace, Retail, Transportation & Logistics, Others), and Geography - Forecast to 2030

Meticulous Research^®—a leading global market research company, published a research report titled, ‘South East Asia Industrial IoT Market by Component (Hardware, Platform, Services, Connectivity), Industry (Agriculture, Manufacturing, Energy & Utilities, Oil & Gas, Aerospace, Retail, Transportation & Logistics, Others), and Geography - Forecast to 2030’

According to this latest publication from Meticulous Research^®, the South East Asia Industrial IoT market is projected to reach $6.87 billion by 2030, at a CAGR of 19.1% from 2024 to 2030. Some of the major factors driving the growth of this market are rising investments in Industry 4.0 technologies, government initiatives to promote industrial automation, and the growing need to improve productivity and efficiency. However, the lack of standardization and high capital & OpEx requirements restrain the growth of the South East Asia IIoT market.

The use of Industrial IoT for predictive maintenance and the proliferation of data centers is expected to create market growth opportunities. However, vulnerability issues with IoT devices and the lack of skilled professionals are major challenges for market growth. Additionally, the rising popularity of IIoT digital twins, the emergence of edge computing, and the rising adoption of smart manufacturing-as-a-service are some of the major trends in this market.

The South East Asia Industrial IoT market is segmented by component and industry vertical. The study also evaluates industry competitors and analyzes the country-level markets.

Based on component, the South East Asia Industrial IoT market is segmented into hardware, platforms, services, and connectivity. In 2024, the hardware segment is expected to account for the largest share of the South East Asia industrial IoT market. The large market share of this segment is attributed to factors such as consistent engagement of the industrial sector in improving efficiency, reducing costs, and increasing the Overall Equipment Effectiveness (OEE) through better access to information from real-time solutions.

In addition, the rising focus of key players on product development and rising investment in the digital transformation of the industries is expected to boost the demand for IIoT hardware. For instance, in May 2021, Hexagon’s (Sweden) Manufacturing Intelligence division opened the doors of its new Smart Manufacturing Innovation Centre in Singapore– fitted with a wide array of advanced hardware and software technologies aimed at enabling an autonomous future. However, the platforms segment is expected to record the highest CAGR during the forecasted period.

Based on industry vertical, the South East Asia Industrial IoT market is segmented into agriculture, manufacturing, retail, energy & utilities, oil & gas, aerospace, transportation & logistics, telecom, and other industry verticals. In 2024, the manufacturing segment is expected to account for the largest share of the South East Asia industrial IoT market. The large share of the segment is attributed to factors such as the growing need for centralized monitoring and predictive maintenance of assets, the increasing number of smart factories, and the advent of Industry 4.0.

Furthermore, the increasing adoption of autonomous robots for industrial automation is expected to drive the segment growth. For instance, in November 2022, Siasun Robot & Automation Co. Ltd. (China) and Huawei Technologies Co., Ltd. (China) signed a cooperation MoU to accelerate Robotic Automation applications for 5G smart manufacturing industries in Thailand. In addition, According to the International Federation of Robotics (IFR), Singapore installed 5,297 robot units in 2020 alone, the high density largely due to the electronics industry. Moreover, the manufacturing segment is also expected to record the highest CAGR during the forecast period.

Based on geography, the South East Asia Industrial IoT market is segmented into Indonesia, Vietnam, Thailand, Malaysia, Singapore, Philippines, rest of South East Asia. In 2024, Indonesia is expected to account for the largest share of the South East Asia industrial IoT market. The large share of the market is attributed to the supportive government initiatives for the digital transformation of the industries and rising investment in industry 4.0 technologies.

Indonesia’s government has ambitious plans to propel the country into the top ten biggest economies in the world by 2030, with manufacturing at the heart of this goal. The government of Indonesia is supportive of the adoption of smart manufacturing, and the government has also introduced many initiatives in order to encourage manufacturers to adopt these technologies. In addition, rising investment in smart factories is expected to drive the market growth in the country. Some of the recent developments:

In December 2021, Yili Indonesia Dairy (Indonesia), a subsidiary of China-based Yili Group, started operations of the first phase of its smart factory, which features technologies such as the Internet of Things (IoT) and big data analytics.
In June 2022, PT Telekomunikasi Selular (Telkomsel) (Indonesia) launched an IoT smart manufacturing service for the end-to-end supply chain to accelerate Industry 4.0 in Indonesia.
In May 2020, Hyundai Robotics Co., Ltd. (South Korea) signed a deal to supply 370 vehicle manufacturing robots to the Hyundai Motors Indonesian automotive plant in Jakarta, Indonesia.

Key Players:

The key players operating in the South East Asia Industrial IoT market are ABB Ltd. (Switzerland), General Electric Company (U.S.), Emerson Electric Co. (U.S.), Intel Corporation (U.S.), Cisco Systems, Inc. (U.S.), SAP SE (Germany), IBM Corporation (U.S.), Honeywell International Inc. (U.S.), Amazon Web Services, Inc. (U.S.), Siemens AG (Germany), Huawei Technologies Co, Ltd. (China), Rockwell Automation, Inc. (U.S.), PTC, Inc. (U.S.), Dassault Systemes (France), Robert Bosch GmbH (Germany), KUKA AG (Germany), Microsoft Corporation (U.S.), Schneider Electric SE (France), Advantech Co., Ltd. (Taiwan), and C3.ai, Inc. (U.S.).

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5739

Key questions answered in the report:

Which are the high-growth market segments based on component and industry vertical?
What was the historical market for industrial IoT in South East Asia?
What are the market forecasts and estimates for 2024–2030?
What are the major drivers, restraints, and opportunities in the South East Asia industrial IoT market?
Who are the major players, and what shares do they hold in the South East Asia industrial IoT market?
What is the competitive landscape like in the South East Asia industrial IoT market?
What are the recent developments in the South East Asia industrial IoT market?
What strategies are adopted by the major players in the South East Asia industrial IoT market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the South East Asia industrial IoT market, and how do they compete with the other players?

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Redding, California - July 4, 2024

South East Asia Industrial IoT Market to be Worth $6.87 Billion by 2030

South East Asia Industrial IoT Market by Component (Hardware, Platform, Services, Connectivity), Industry (Agriculture, Manufacturing, Energy & Utilities, Oil & Gas, Aerospace, Retail, Transportation & Logistics, Others), and Geography - Forecast to 2030

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