SINGAPORE - MindSphere World, a global Industrial Internet of Things (IIoT) association, has launched a Singapore-headquartered Asean chapter.
Singapore was selected because of its drive to adopt digital technologies across all levels, and its large base of regional headquarters spanning multiple industries, said the grouping.
The chapter's 15 founding members comprise multinational corporations, small and medium enterprises, consulting companies and educational institutes from around the region.
They include original founder Siemens, Singapore-based seed stage venture fund AIRmaker, Nanyang Polytechnic and the University of Cambridge's Singapore-based research centre, Cambridge CARES.
IIoT is the connection of devices and machines in industrial sectors and applications such as transport, energy and manufacturing. It opens up vast possibilities for instrumentation, leading to major efficiency and productivity gains in industrial operations, said MindSphere .
It aims to form an IIoT community and support its members in developing and improving IIoT solutions. It will help members to collaborate in solving problems and identify further opportunities across relevant industries.
The Asean chapter launch follows MindSphere's original founding in Germany in January 2018, and a subsequent Italy chapter in July last year.
Narsingh Chaudhary, president of MindSphere World Asean-Pacific and senior vice president of strategy and business excellence at Siemens, said that Asean's digital economy is projected to grow to US$200 billion by 2025.
"It is also a huge market for the manufacturing and process industries, sectors where the Industrial Internet of Things is a key lever in their digital transformation".