It’s now been 8 years since the concept of Industry 4.0 was first announced during the opening ceremony at Hannover Messe in 2011. Since then, a number of nations have created industry 4.0 initiatives such as Singapore, Malaysia and U.S.A, but do we still see an issue with readiness and adoption?
Industry 4.0 is no longer struggling with an awareness problem, but uptake has remained slow in ASEAN with nations such as Malaysia currently struggling with 20% adoption.
Many companies across the region are focused on short-term returns, lack a skilled workforce and generally struggle to find the right leaders to drive transformation. But with ASEAN projected to see gains worth $216 billion to $627 billion per year by 2025 according to a McKinsey report, companies can’t afford to miss out.
With regional governments emphasising the need to be ready for the digital revolution, organisations are realising that Industry 4.0 adoption is not an option, but a necessary solution to being future-ready and to future-proof their business models. It’s not a matter of “if” but “when”, and the ones who are quick to respond will gain first-mover advantage that translates into massive efficiencies that impact large-scale production.
The state of readiness for Industry 4.0 adoption is starting to ramp up in Asia Pacific. Manufacturers and companies are heeding the call to action amidst escalating concerns over low labour productivity that impacts economic growth. Addressing the fears and stumbling blocks over Industry 4.0 is the first step to achieving clarity and direction, and Industrial Transformation Asia-Pacific 2019 (ITAP) – A Hannover Messe Event, returns this year with a very focused and specialised approach to speed up Industry 4.0 adoption with practical learning platforms and scalable solutions.
Organised by SingEx Exhibitions and their international partner Deutsche Messe, Industrial Transformation ASIA-PACIFIC brings with it the strength of HANNOVER MESSE’s reputation in industrial technology and the advantage of Germany’s expertise in advanced manufacturing. As a precursor to the main show, a media and industry engagement event amplified the agenda of cross-border technology transfer among Germany, Asia and Singapore.
“Unfortunately, there are massive conflicts between the most powerful states in the world and there is a high risk of escalation and trade wars. But, ASEAN with 650 million people and the European Union with half billion people, together are powerful as well. That’s why I feel that it is in our common interest to intensify cooperation and stand close together,” said Stephan Weil, The Prime Minister of Lower Saxony.
Stephan Weil
Opening Remarks by Prime Minister of Lower Saxony, Mr Stephan Weil
Speaking at the ITAP media and industry engagement event, hosted at the residence of the German Ambassador to Singapore, Stephan Weil expressed the importance of collaboration between ASEAN and the EU. With a sizeable business delegation from Germany in attendance, Weil underlined the similarities between Singapore and Germany and that as two nations without commodities, it was important for them to remain innovative.
Bringing the days proceedings to a close, Aloysius Arlando, Chief Executive Officer at SingEx Holdings, said that, “Germany’s strong ties with Asia and Singapore and technology transfer will act as a catalyst for Asia’s Industry 4.0 transformation, particularly in the ASEAN region”.