Honeywell aims to ride IoT wave

Internet of Things (IoT) technology and nationwide wireless broadband connectivity are the most fundamental drivers of digital transformation across industries, says a US-based automation and control systems pioneer.

“We are transforming from a traditional industrial company into a software industrial firm to keep up in a connected world,” said Briand Greer, president of Honeywell Asean.

Honeywell has blended physical products with software t o support connected systems that improve homes, buildings, factories, utilities, vehicles and aircraft, enabling greater safety and productivity.

“Thailand is one of 10 high-growth markets globally for Honeywell,” said Mr Greer.

He said the Thai government has solid policies regarding the development of Industry 4.0. The country also has nationwide wireless broadband network coverage and stable economic growth.

Thailand also has a strong manufacturing base thanks to variety of investment incentives provided by local authorities, said Mr Greer.

Honeywell expects strong demand for its automation and control systems in Thailand from four industries: aerospace, refineries, oil and gas and technology.

The company also provides automation for buildings and home solutions for energy conservation and security.

He said Honeywell expects the use of intelligent and connected solutions in various industries to play a larger role in Thailand, especially in the aerospace, homes and buildings, hospitality, retail, logistics and oil and gas industries.

Mr Greer said Thailand is a strategic market for Honeywell in Asean.

Revenue from Asean contributed US$700 million (24.1 billion baht) out of the firm’s $39 billion total in 2016.

“We expect revenue from our 10 highgrowth markets to account for over 60% of our total revenue globally over the next decade, up from 40% currently,” he said.

Honeywell aims for revenue from its Thai operations to grow at twice the clip of the country’s gross domestic product over the next five years,” said Mr Greer.