Southeast Asia (SEA) Internet of Things (IoT) Market

Southeast Asia IoT Market is expected to witness a CAGR of approximately 20-23% during the forecast period, 2023-2030.

Southeast Asia (SEA) Internet of Things (IoT) Market Overview

Internet of Things refers to the to a system of interrelated connected objects that can collect and transfer data over a wireless network without human intervention. Deployments of IoT devices enable in gathering insights and enables to streamline workflows, automate process, meet compliance requirements and help to compete in a changing environment

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Major Southeast Asia (SEA) Internet of Things (IoT) Market Drivers

Rising government initiatives for smart city projects stands to be one of the major drivers supplementing the growth of IoT market in the SEA. The governments in the countries such as Singapore, Malaysia, Indonesia and Thailand are focusing to invest in smart city projects which focuses across five primary domains such as smart mobility, smart building and environment, smart industry, smart health and smart governance.

According to the Smart City Index, Singapore was ranked the number one smart city in the world for 2 consecutive years (2019 and 2020).  Also, post-Covid, Malaysia aims to have five smart cities by 2025 in embracing digitalisation for the betterment of the welfare of urban Malaysians with transformative quality lifestyle. Similarly in 2017, Indonesian government announced “Movement Toward 100 Smart Cities” initiative. This initiative directly linked to the government’s vision of turning Indonesia into a smart nation. In 2020, a total of 39 cities of Thailand have submitted proposals for evaluation and approval to the National Steering Committee on Smart City Development to join the scheme. In accordance with Thailand 4.0, the country aims to achieve 100 smart cities by 2024.

Restraint in the South East Asia IoT Market

However, rising concerns for privacy and data security also acts a market restraint. Data privacy is a concern, especially because IoT devices are being used in more sensitive sectors such as healthcare and finance. In 2021, Singapore witnessed spikes in ransomware and botnet attacks. The Cyber Security Agency (CSA) of Singapore revealed that Mirai and Gamarue malware variants were prevalent amongst infected botnets in 2020, with the former malware targeting primarily Internet of Things (IoT) devices.

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Category – Segment Analysis

Based on category, the systems integration segment is expected to grow at fastest CAGR during the forecast period 2021-2028. The presence of number of system integration companies to supply secure embedded design and engineering, connectivity management, cloud and IT architecture, data science, and application development which help companies build and scale IoT projects are contributing to the growth of the IoT market in the region.

Technology – Segment Analysis

Based on technology, IoT in AI is expected to witness high adoption in the coming years. The increasing use cases of AI and IoT in different end-use industries such as manufacturing, healthcare, retail, automotive will augment the market growth in the coming years.

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End Use – Segment Analysis:

In terms of end-use, the manufacturing segment stands as the one of the leading segments for Southeast Asia Internet of Things (IoT) market and is projected to grow at highest CAGR till 2028. The factors propelling the growth of the market in this segment includes the implementation of Industry 4.0 which involves connecting machines in a manufacturing facility via Internet of Things (IoT) to automate processes and collect data which is used to optimize operations, thereby enhancing productivity and data mining.

Key Developments:

• • In, 2021, Thailand’s dtac pilot tests its 5G private network as it seeks to offer robust infrastructure to run digital applications using technologies such as AI and IoT.
  • In 2019, Vietnam launched its first IoT innovation hub with the aim to enable domestic mobile operators, businesses, students, researchers and start-ups to create, develop and test IoT applications as well as supporting in product commercialisation.

Segments covered in the Report:

The Southeast Asia IoT market has been segmented on the basis of category and end-use. Based on category, the market is segmented into device hardware, systems integration, software solutions and network connectivity. Based on end-use, the market is segmented into manufacturing, automotive, agriculture, retail, healthcare, transportation and logistics and others.

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Market Segmentation

Southeast Asia IoT Market by Category

• • Device Hardware
  • Systems Integration
  • Software Solutions
  • Network Connectivity

Southeast Asia IoT Market by End-Use

• • Manufacturing
  • Automotive
  • Agriculture
  • Retail
  • Healthcare
  • Transportation and Logistics
  • Others

Southeast Asia IoT Market by Countries

• • Singapore IoT Market All-Up (Option 1: As a part of the free 25% customization)
  • Malaysia IoT Market All-Up (Option 2: As a part of the free 25% customization)
  • Thailand IoT Market All-Up (Option 3: As a part of the free 25% customization)
  • Vietnam IoT Market All-Up (Option 4: As a part of the free 25% customization)
  • Rest of Southeast Asia IoT Market All-Up (Option 5: As a part of the free 25% customization)