Companies in the United States and in other countries have new manufacturing opportunities thanks to the Internet of Things and an initiative among Southeastern Asian countries. The ASEAN Smart Network Initiative aims to create a so-called "smart region" by 2024 in which a new technological infrastructure uses connected devices to improve the lives of citizens.
American companies have already started some of the massive upgrades needed for power grids, wireless connections and transmission towers. Trilliant, a smart grid platform company, works with Tenaga Nasional Berhad, one of the largest utilities in Malaysia, to produce an advanced metering system that analyzes power consumption to save energy costs.
Devices may use meters to transmit information such as a building's internal temperature, thermostat readings and possible air leaks. The utility company then suggests improvements to building owners, and new buildings can take into account this data to save even more energy. In addition to cost savings, energy reduction could also save carbon emissions.
Singapore plans to add infrastructure for testing electric vehicles, intelligent energy systems and smart grid test beds. Meanwhile, Thailand helped start a new mobile network for businesses to automate fleet management in 2015. This occurred on top of a new push for smart cities with better power grids.
The Internet of Things offers plenty of manufacturing opportunities for American companies to expand their offerings in these environments. Businesses that already have innovations can come into these Southeast Asian countries to market their wares. One estimate places a $3.7 trillion savings for businesses due to more efficiency in the manufacturing process by 2025.
About half of that savings comes from operational optimization that allows companies to make real-time enhancements to the production of items such as electronics, clothing and appliances. These enhancements improve quality control and reduce waste, all thanks to the Internet of Things.
Connected devices already monitor the huge automotive industry in Southeast Asia, while oil companies use wireless technology to collect and analyze data without the need to train individuals. In this case, the Internet of Things saves companies labor costs by automating potentially dangerous operations.
Big data also stands to benefit from the Internet of Things in this region. Predictive maintenance and inventory optimization let companies monitor warehouse operations and automate retrieval systems in huge buildings. Texas Instruments uses such a smart system in a huge warehouse in Singapore to predict when these automated robots need maintenance. Big data firms stand to benefit from the data collection and data storage side of the industry that needs cloud computing to connect everything.
The Internet of Things continues to revolutionize the world, even in developing countries. Thanks to a Southeast Asia trading partnership, manufacturers can invest in devices that bring profits to American companies in 2015 while also helping save money in the manufacturing process in subsequent years.
Photo courtesy of franky242 at FreeDigitalPhotos.net
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