Unsurprisingly, markets in Asia-Pacific are investing heavily in research and development to support the rollout of IoT. Various governments in the region, e.g. Hong Kong and Australia, are earmarking substantial amounts to build out accelerators and innovation hubs. Meanwhile, Asia-Pacific’s longstanding roots as a manufacturing hotbed have caused the region to witness the rollout of IoT firsthand in its production lines and factories, showcasing efficiencies and vertical integrations.
By working closely with our customers to help them develop their digital edge strategies, we have identified four essential steps that, when combined, speed digital transformation and remove performance, cloud, security and data challenges at the edge.
Digital business drives real-time interactions to capture greater value. By 2021, at least 50% of global GDP will be digitalized, with growth in every industry driven by digitally enhanced offerings, operations and relationships.[ii] Manufacturing firms are improving agility and time to market by connecting complex supply chains worldwide.
The edge is where it’s all happening in today’s digital world. It’s where distributed people and things moving around the globe come together via a variety of interconnected devices. At Equinix, we see the evolving edge taking clearer shape as businesses create new applications and business models that integrate the physical and virtual worlds on our global interconnection platform.
In part one of this two-part series I shared some key takeaways from the recent forum, “Digital Asia: Asia’s Digitally Transforming Economies”, hosted by The Economist Corporate Network in Hong Kong. As discussed in my last post, digital transformation is growing fast around Asia-Pacific, thanks to the explosive growth of the internet, mobile penetration, FinTech and big data. In this blog post I want to highlight some of the things companies need to think about when it comes to responding to the huge opportunity presented by digital transformation in Asia-Pacific. Here a few things to consider:
An interconnected world that promotes connectivity and cooperation creates growth opportunities. In Asia-Pacific, the demand for connectivity is obviously growing. According to the Global Interconnection Index, published by Equinix, Interconnection Bandwidth in Asia-Pacific is expected to grow 46% per annum to reach 1,120 Tbps of installed capacity, approaching nearly a quarter (22%) of global traffic.
Easybook found what it was looking for after talking with Equinix partner, InfoFabrica Consulting Pte. Ltd, which suggested leveraging Equinix to re-architect its IT platform and embrace a digital edge solution that would bring it closer to its users.
Healthcare has been around in some form or other for millennia, while artificial Intelligence (AI) has only a few decades of history behind it. Still, that’s long enough for Al to begin transforming this ancient industry, and its influence is only accelerating in the digital age.
The prospect of a global cashless economy is not too distant a reality. Global digital payments are predicted to increase on average by 10.9% reaching close to 726 billion transactions by 2020, according to the World Payments Report 2017. The world’s top cashless economy is currently Canada, with Sweden coming in at second and the UK at third (Forex Bonuses). Chinese cities are already emerging as early examples of cashless economies, with digital payments on mobile apps such as WeChat and Alipay taking precedent for mobile payment transactions. And Sub-Saharan Africa is a huge market for mobile payments — the GSMA reports that more than 40% of the adult population is using mobile money on an active basis in seven Sub-Saharan African countries.
In this dynamic environment, people in the response flow can add an hour. When everything is constantly changing, and you’re continuously pivoting, how can you accurately plan or forecast your business or anticipate an event–the holy grail of digital business?