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Realizing the potential of Industry 4.0 in Asia market

Janifha Evangeline

 Janifha Evangeline

Asia Industry 4.0 Market encompasses industries that are considered as the future of business. These industries have been enabled by technologies such as AI and machine learning, blockchain technology, and virtual reality.Asia is one of the most dynamic markets in terms of technology and business. The Asian market has been booming with businesses seeking to expand their business in this region on account of huge potential. Industries like retail, manufacturing, food and beverage industries are being disrupted by use of AI through automation and machine learning.

The Asia industry 4.0 market is anticipated to register a compound annual growth rate of twenty four per cent approximately. While digitalization as well as industry 4.0 revolution are serving as a catalyst for the growth of automation among manufacturing industries, by leveraging smarter & automated solutions that include robotics & control systems, these help in improving the performance metrics of the production process.

The Asia market has been one of the early adopters of technological advancements. The market in these developing countries showan important benefit of implementing industrial automation as they are not tormented by rebuilding legacy automation systems as well as machine investments.

With the Internet of Technology at the centre of new technological approaches for development, manufacturing & and the complete logistics chain, it drove India’s adoption of industrial automation. Furthermore, the launch of Smart Advanced Manufacturing & Rapid Transformation Hub Udyog Bharat 4.0 on Enhancement of Competitiveness in Indian Capital Goods sector led the 1st step.

Manufacturing sector to possess a significant share

Manufacturing sector is at present undergoing a rapid digital transformation and it is one of the most major contributors to the economy of Asia-Pacific. Low-end global manufacturing enterprises are rapidly moving their operations to Southeast Asia in order to reduce costs owing to inexpensive workforce availability in the region.

The primary driving factor of the industry 4.0 market includes the surge in adoption of automated equipment & tools on manufacturing, warehouse & factory floors, surging investment towards additive manufacturing as well as emergence of digital technologies like the Internet of Things, Artificial Intelligence, Machine Learning, cloud services etc. This in turn is expected to make sizable demand for the industry 4.0 market.

Debjani Ghosh, President, NASSOM, said, “Industry 4.0 has reached a tipping point in Indian manufacturing, with a strong desire to boost investments in the next two years to create exceptional customer experiences and long-term business models. Moving forward, it will be fascinating to watch how ready the Indian manufacturing industry is to adopt and scale Industry 4.0, which is largely determined by the  use cases selected, the capacity to scale Proofs of Concept, and the alignment of IT and OT capabilities.”

Connectivity – the foundation for Industry 4.0

Connectivity is a key and one of the foundational elements of a digital society & by extension Industry 4.0. The huge number of respondents to the GSMA survey view a national high-speed broadband network that covers more than ninety percent of the population & underpinned by forward-leading regulatory framework as well as cross-sector collaboration which is essential to realising industry 4.0 ambitions. Also, mobile operators have played a crucial role in delivering high quality connectivity in the region, and have invested in widespread 4G networks are at present doing the same for 5G as well.

Telecommunications networks – the centre of innovative technologies & solutions

A majority of the respondents think that the telecommunications & manufacturing segments will obtain a very significant benefits from Industry 4.0. But, Industry 4.0 holds the potential to benefit several segments&society at large, this is one of the features that is unique to Industry 4.0 relative to previous industrial revolutions.

Telecommunications networks as well as mobile in specific are at the center of innovative technologies & solutions for addressing the challenges of the society. Right from smart agriculture & smart health solutions to smart manufacturing as well as e-government services, the impact of mobile-enabled Industry 4.0 solutions may be more effective and felt across society.

The way ahead

Countries in the Asia Pacific region have established frameworks on a national level. They have recognised the potential of Industry 4.0 with an aim to help prepare economic structures for greater productivity as well as resilience. A majority of government agencies as well as industry players anticipate industry 4.0 objectives to be delivered in the next 5 years and this will rely on effective regulatory frameworks, that include making new spectrum that is available for enhanced connectivity as well as increasing innovations in new solutions.