Rising Adoption of Industry 4.0 and IIoT in Manufacturing to Support the Market Growth

The automation sensors market is growing due to government support and initiatives, high demand for industrial automation for mass production, and mounting pressure to reduce operational costs. Product lifecycle management and enterprise-level solutions are gaining high demand across the globe.

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Singapore is emerging as a dominating automation country in Southeast Asia due to initiatives such as National Robotics Program. In 2019, Singapore witnessed the roll-out of the Narrowband IoT (NB-IoT) network, a connectivity standard backed by Telcos and the GSM Association, accelerating the progress of Singapore’s digital economy. In September 2019, Thailand announced its plans to develop the Digital Park Thailand to provide digital infrastructure to companies to support Thailand’s agenda to become a digital innovation hub. Thailand’s Digital Agenda 2018 was focused on five areas: digital infrastructure, digital government, digital manpower, cybersecurity, and digital tech developments. The Ministry of Digital Economy and Society (Thailand) also presented a Smart City Framework designed to make habitable cities with the help of digital technologies.

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In October 2018, Malaysia proposed a National Industry 4.0 Framework to boost the manufacturing sector. One of the initiatives includes smart cities to accelerate the progression of the digital economy. Hence, such developments are expected to drive the growth of the industrial automation sensors market.