Asia IoT business platform to discuss trends, impact on local businesses

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KUALA LUMPUR: The 10th edition of the Asia IoT (Internet of Things) Business Platform is expected to discuss industry trends and opportunities as well as its impact on Malaysian businesses.

The exhibition, to be held on Aug 18-19, will see the participation of 400 local enterprises seeking solutions for business growth and efficiency, said Singapore-based event organiser Industry Platform in a statement.

The event is part of MyIoT Week 2016 hosted by MIMOS Bhd, which will take place on the same date.

Industry Platform is mainly involved in organising Machine-to-Machine (M2M) and IoT conferences and exhibitions.

MIMOS Senior Director and Head of Corporate Market Strategies Helmi Halim said IoT Malaysia is currently at its infancy stage and the government would focus on value creation to implementation of IoT in strategic sectors.

“IoT has definitely created new opportunities, especially when it comes to industry applications and services.

“We see immense growth opportunities for the small and medium enterprises.

“We are working at enhancing the competitiveness of the manufacturing sector and improving the Smart Community, which is linked to enhancement of transportation for mobility in urban areas,” he added.

A survey conducted among registered participants showed that 48.88 per cent of local enterprises have started exploring and implementing IoT solutions, but only 4.17 per cent reported seeing its benefits.

Malaysia has launched the National IoT Strategic Roadmap as part of its goal to be the premier regional IoT development hub.

IoT implementation is expected to contribute RM9.5 billion to the country’s Gross National Income by 2020 and RM42.5 billion by 2025.

Source: Bernama