Big Asian economies transform manufacturing and logistics with IoT
Four of Asia big economies are transforming the manufacturing and logistics sectors by heavily investing in Internet of Things (IoT) technologies, a report, published by the international legal practice Osborne Clarke.
China, Singapore, Hong Kong and India are changing the dynamics they work in by implementing more technology. This means that China, for example, is no longer the leader in cheap manufacturing but it taking over the USA and Europe when it comes to innovation. More than half of all organisations in the manufacturing, logistics, and supply chain sectors have worked with some form of Industrial IoT and are planning to do so even on a bigger scale in the future.
Asian economies say they invest in IoT to save labour cost and make manufacturing more efficient. At the same time their biggest worry is cyber security and data breaching.
'The twin strategies of “Made in India” and “Made In China” are going to see winners and losers in due course. Both countries have attractive qualities for both inward investment and outward investment, but culturally are so different as to ask the question: do you have to choose between India and China as your Asia hub?' says Adrian Bott from Osborne Clarke.