Industrial Digital Transformation Investment by Southeast Asian Manufacturers Set to Grow to US$301.6 Billion by 2028 [Yahoo! Finance]
MITSUBISHI ELEC UNSP/ADR (MIELY)
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Source: Yahoo! Finance
NEW YORK June 26, 2024 /PRNewswire/ -- Digital transformation investment in Industry 4.0 solutions by Southeast Asian manufacturers is expected to grow steadily to reach US$301.6 billion in 2028, marking a 32.9% CAGR, according to global technology intelligence firm ABI Research . With most Southeast Asian manufacturers still in the early stages of digital transformation, this growth in spending will significantly improve the efficiency and impact of manufacturing in the region, with the share of manufacturing factories that have implemented smart solutions growing from 6.3% currently to 32.8% by 2028 (representing an average year-on-year growth of 31.6%). Thailand Malaysia , and Singapore are currently leading the way for digital transformation among manufacturers and are expected to continue for the next five years. Successful implementations and demonstrations of improved efficiency and Operational Cost Savings (OCS) because of these deployments will catalyze greater digital imp
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