Taiwan is a key player in the global development of the Internet of Things (IoT), according to one of the country's most renowned businessmen.
As the China Post reports, Stan Shih, founder of Acer Inc., has urged the Taiwanese youth to get behind IoT technologies in order to capitalise on the country's big market opportunity.
Shih pointed out at an annual IT trade show in Taipei that many of the world's sensor system and wearable device manufacturers operate out of the country. As such, IoT technologies are dependent on Taiwan in order to develop, he added.
Acer has hit on hard times in the past couple of years, but Shih sees the IoT as a chance for the PC firm to reclaim its standing – a belief that has led to the acquisition of US cloud technology provider iGWare in 2011. Following that, Acer rolled out an open cloud platform, Build Your Own Cloud (BYOC), to consumers last year.
Shih says the potential of the global IoT market – which is forecast to be worth US$2.9 trillion (S$3.4 trillion) by next year, according to International Data Corporation (IDC) – means there is room for big players as well as small and medium-sized enterprises.
His comments were backed up by other leaders of the tech industry who were speaking at the summit forum, entitled 'IoT and the Cloud: Software to Hardware - The Next Step'.
Johan Lodenius, chief marketing officer of Taiwanese chip-maker Mediatek Inc., went as far as to say that people can expect a "brand new world" after 2025 whereby integrated and connected devices are commonplace.