Advantech’s first IoT Co-Creation Summit empowers global IoT industry chain with co-creation
Advantech (stock symbol: 2395), a leader in the global intelligent systems market held the first Advantech IoT Co-Creation Summit at Suzhou International Expo Center today (Nov. 1st). Over 5 thousand Advantech clients and partners around the world attended the Summit. Together they acknowledged Advantech’s introduction of the newest IoT platform structure WISE-PaaS 3.0 and 32 IoT solution ready packages (SRPs) co-created with software and industry partners. The event in itself will aid in the software/hardware integration for various industries, connect and build a complete industrial IoT ecosystem and value chain, and allow Advantech and partners to officially step into the next IoT stage.
Advantech Chairman KC Liu stated that in view of the IoT application characteristics diversity, extensivity, and fragmented market, Advantech has assisted industries in integrating and connecting existing hardware and software, and regards creating a complete industry value chain as its primary task in IoT industry development. In line with this trend, Advantech launched the WISE-PaaS platform in 2014, and over two years connected the platform thoroughly from top to bottom, including services such as sensors, edge computing, communications, PaaS platform, SRPs, and cloud service operation, and creating a complete IoT supply chain.
Liu elaborates that for this chain to be fully executed and for application landing population, the key of success lies in adequate collaboration and integration between the platform technology supplier and industry professionals to create standardized and replicable SRP products with combined software and hardware systems. System integrators shall then install the SRPs at the users’ site and perform subsequent maintenance, thus completing a field solution and forming an industrial IoT supply chain. Advantech’s business mode for advancement to this stage will be undertaken in various ways: Previous hardware will still be operated by the profit center. The WISE-PaaS software is the core of cores, but it shall be operated in membership mode by the cost center with sharing as its target. As for SRP software development and domain-focused solution integrator (DFSI) industry professional company collaborations, they will each be performed as co-creations or small investment joint ventures.
Allan Yang, Chief Technology Officer at Advantech, said that within the fragmented IoT industry environment, Advantech has an extremely large advantage in the current industry development with its solid basis previously established in edges. Particularly as the WISE-PaaS IoT software platform developed in the recent two years is more sophisticated and has increased value, Advantech’s position in the overall IoT ecosystem is well defined—its edge platforms and Universal IoT Cloud Solutions connect computing energy providers, cloud service operators, SRPs, equipment users, and manufacturers, constructing a complete industrial IoT supply chain. And to accelerate the integration of software and hardware in each industry, over the past year and more Advantech has prepared 32 IoT SRPs as below, to be officially introduced at the IoT Co-Creation Summit:
Advantech’s proficiency with cloud data processing and application development, coupled with partner expertise, forms a potent combination of OT and IT that facilitates optimal data collection, management, and analysis. Starting this year, co-creation projects in a number of fields were undertaken with the participation of domain-focused solution integrators (DFSIs). Advantech recently established a water treatment system, jointly developed with GSD (China) Co., Ltd., and a CNC equipment remote operation service, jointly developed with Yeong Chin Machinery Industries Co. Ltd. Both partnerships demonstrate how industrial digital transformations, led by Advantech and its partners through the co-creation model, offer innovative win-win IoT solutions.