6th PIKOM Leadership Summit Outlined Key ICT areas for Nation’s Development
‘Internet of Things (IoT)’ is identified as Malaysia’s newest economy revenue driver for ICT sector
Kuala Lumpur, 17 September 2014 – PIKOM, the National ICT Association of Malaysia and the ‘Voice of the ICT Industry’, today launched its 6th PIKOM Leadership Summit (‘PLS’) – the association’s flagship event— that presents the viewpoints and perspectives of prominent Malaysian leaders on business evolutions which are impacting the ICT development in the country.
Themed ‘Breaching the New Frontiers in the Digital Age’, PLS saw the gathering of over 250 C-level executives in Malaysia to share their thoughts on various business-ICT related issues, discuss the emerging industry trends and market challenges.
The VIP at 2014 PLS was YBhg Tan Sri Halim Ali (Chairman of Multimedia Development Corporation). Other key speakers include Tan Sri Rafidah Aziz (Senior Independent Non-Executive Chairman of AirAsia X, Goh Peng Ooi (Executive Chairman of Silverlake Group), Paul Moung (Managing Director, IBM Malaysia), Carlos Lacerda (Managing Director, Microsoft Malaysia), Roshan Thiran (CEO of Leaderonomics), and many others.(For the whole list of PLS speakers for 2014, please visit www.pikom.org.my)
Commenting on the PLS itself, PIKOM’s Chairman, Cheah Kok Hoong highlighted, “In its 28th year, PIKOM has mirrored the evolution and growth of Malaysia’s ICT industry. Today, PLS no longer centres on just ICT anymore, but the fundamental changes on how things run leveraging ICT to generate information intelligence to enrich human’s life and society – as reflected in ICT Strategic Review 2014/2015.”
Over the years, PIKOM’s Leadership Summit Series has also been the exclusive event that showcases Malaysian success stories in leveraging ICT for business transformation.
Internet of Things (IoT) as the Biggest Driver
In conjunction with PLS 2014, PIKOM released its annual ICT Strategic Review for 2014/2015 revealing *‘Internet of Things (IoT)’ trend will be the next significant revenue stream driver to the country’s ICT industry.
The PIKOM ICT Strategic Review for 2014/2015 also listed the advents of Big Data, Cloud and Social Business as the other game-changing trends that will transform Malaysia’s ICT industry.
*NOTE: The ‘Internet of Things’ or ‘IoT’ refers to the connection of consumer devices and physical products to the Internet via key elements such as mobile devices, embedded sensors and image recognition technology.
Cheah shared, “IoT is fast emerging as a whole market of opportunities for the ICT sector as the country will start to see the demand for the production of more communication devices/sensors. In Malaysia, the key focus of IoT will be on leveraging M2M connections to enable information sharing to improve healthcare services, agriculture, logistics and transportations.”
Cheah pointed out that Asia is currently the largest regional IoT market in the world, accounting for 40 percent of the world’s 189 million M2M connections by the end of 2013 (based on GSMA’s global report¹). While globally there is as many as 25 billion devices connected to the Internet by 2015 and 50 billion by 2020, as projected by Gartner. The market value could as well achieve up to US$2 trillion globally by 2020.
“It is happy to note that Malaysia has started to tap on the rapid growing potential of IoT through various initiatives such as the formation of National IoT blueprint, Digital Malaysia and Economic Transformation Program.”
“IoT can be a new economy itself covering business areas such as embedded device manufacturing, connectivity infrastructure and application deployments. The trend is also a new opportunity to position Malaysia as the hub for regional IoT innovation projects in Southeast Asia,” Cheah said.
Updates on ICT market
The PLS is also a platform for PIKOM to share its updates on the local ICT market. Cheah shared, “We are seeing a very encouraging upbeat momentum of ICT adoption that could be a result of the imminent implementation of the Goods and Services Tax (GST) by the April 2015 deadline.”
“Also, Malaysia’s ICT market is growing in line to achieve set target of RM95billion revenue by 2017; and the ICT market spending is poised for a double digit growth for 2014 taking into account the healthy first half GDP growth for 2014.”
“The ICT Strategic Review 2014/2015 report also sheds light on other core ICT trends, such as Social Technology, Big Data, Cognizant Computing and Wearable Technology Revolution, which have been gaining market tractions.” he ended.
To view a full copy of “PIKOM ICT Strategic Review 2014/2015”, please visit www.pikom.org.my.