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Internet of Things to drive Malaysia's ICT sector

Posted: 05 Nov 2015 ?? ?Print Version ?Bookmark and Share

Keywords:ICT? Internet of Things? IoT? wearables?

Malaysia faces a maturing information and communication technologies (ICT) landscape. In addition, revenue growth from core sectors is decelerating. However, new business services open as new opportunities brought by the introduction of the Internet of Things (IoT).

For this reason, communication service providers (CSPs) must leverage their core competencies to capture horizontal revenue streams stemming from IoT, such as managed services and security, and cloud computing and storage.

The IoT market in Asia-Pacific is expected to grow at a compound annual growth rate of 35.1 per cent between 2014 and 2020, according to a new analysis (Internet of Things) from Frost & Sullivan. In Malaysia, the deployment of IoT will gain traction in the transportation, logistics and connected consumer sectors such as wearables, connected homes and home automation.

"Readily accessible and cost-effective storage, computing and programmable networking systems are fuelling novel business applications and IT delivery models, thus facilitating a distributed intelligent network," said Frost & Sullivan Information and Communication Technologies Industry Manager Serene Chan.

"Embedded systems will provide the crucial link between cloud solutions and fully autonomous end devices, speeding up the transition to IoT," she added.

Finding value in the vast array of unstructured machine and connected device data available will be critical to support IoT-based services for a variety of industries. Currently, less than one per cent of the data captured by sensors is used for analytics and optimisation.

In addition, Malaysian CSPs struggle to offer IoT services due to market fragmentation as well as security and privacy concerns. These challenges are organisational rather than technical in nature, as CSPs still focus on selling connectivity instead of solutions and services.

"Entering into the IoT space requires industry players to acquire capabilities beyond their core functions. The CSPs in Malaysia must collaborate with a variety of partners to deliver relevant end-to-end services in specific industries," noted Chan.

Thus, evolving from a cost-optimised connectivity provider to an IoT service provider will drive business objectives and enable innovations in the changing ICT domain.

Top manufacturing hub

According to the latest Cushman & Wakefield's "Where in the World? Manufacturing Index 2015," Asia Pacific countries are still attractive for manufacturing when compared to other geographies. For the second time this year, Malaysia has secured the top position, benefitting from its cost-effective environment.

Korea, Singapore, Thailand, Indonesia, Japan and the Philippines, significant hubs for the high-tech sector, had top showings as well.





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