Southeast Asia has for decades been an export manufacturing hub to the world competing with another powerhouse manufacturer in the region – China.
But with the US-led trade tension with China, Southeast Asia or the ASEAN region is presented with a golden opportunity to take a bigger slice of the manufacturing demand in the years ahead. Of course, to do this most of the ASEAN member nations must move up the value chain stepping out of the shadows of what is primarily viewed as – a location for low-wage assembly work.
Next-generation Industry 4.0 technologies and mounting pressures on companies to lower their greenhouse gas emissions, meanwhile, are creating new opportunities by changing the game
In line with its rebirth as a more modern manufacturing base, the Boston Consulting Group forecasts that by 2030, the manufacturing industry in SEA will see increase in foreign-direct investment by up to US$22 billion, potentially generate up to US$600 billion, and see and create up to 140,000 new jobs annually.
But what will it take to become the factory to the world?
Chris Lee, regional vice president for Asia Pacific at Rockwell Automation's software business unit joins FutureIoT for a look at how industrial IoT is transforming Asia's manufacturing sector.
Click on the PodChat player for more details on Lee’s observations, opinion and recommendations on how industrial IoT is transforming Asia’s manufacturing sector.
1. What is the significance of smart, connected factories?
2. In terms of Southeast Asian as a manufacturing hub, where do we stand?
3. What are the challenges that Asian manufacturers will face, as they try and adapt these new technologies to their existing operations in the region, including the partners in the ecosystem?
4. What do you see is the role of government in supporting these manufacturers?
5. How do you see Asian manufacturers adopting new technologies while complying with ESG requirements as demand for a more sustainable manufacturing practice rise?
6. How should manufacturers accommodate concerns around cybersecurity?
7. Is reshoring going to be a concern for manufacturers in Asia?
8. What are your thoughts on rising inflation in 2023?
9. What is your advice for Asian manufacturers as they start to look to implement or integrate these new technologies be more competitive, efficient, productive, as a supplier to the world?