Supporting its IoT deployment in Europe Advantech has a new growth strategy which targets revenues of €350m by 2025. The company will accelerate deployment as it celebrates its 25th year in Europe. A new model of co-creating with various domain fields’ partners will also help deliver the Industrial IoT (IIoT) ecosystem, culminating with an IoT Co-Creation Summit scheduled for November 2018.
Advantech revealed its European growth strategy as it enters its next phase of IoT development. The company is targeting revenues of €350m across Europe by 2025. Advantech is accelerating the deployment of branch locations throughout the region, to better leverage its 25 years of local industry experience. A new co-creation model is also being adopted by the company to construct the Industrial IoT (IIoT) ecosystem and strengthen the influence of vertical domains. This will culminate with an IoT Co-Creation Summit scheduled for November, 2018 in Suzhou (China), where a new vision for the next phase of IoT development will be mapped out along with industry partners.
“Advantech’s brand recognition in IoT and Industry 4.0 has grown significantly across Europe” said Hans-Peter Nüdling, Associate Vice President eIoT. “The company opened a new European Service Centre in Eindhoven recently. The completion of this centre is Advantech’s first step towards becoming Europe’s most comprehensive IoT solutions provider.” This expanded, smart European HQ facility also includes a warehouse and production plant. The company employs some 400 people here in Europe and has a strong presence in 10 European countries. A new branch location was opened in Stockholm last year.
“Advantech customers benefit from our very large production capacity” explained Jash Bansidhar, European Sector Head Industrial IoT Group “Headquarters in Taiwan also assist with the optimisation of local organisations, talent and culture, and will also seek business opportunities through a regional advisory board. An increased sales presence here is one of the company’s primary goals to actively respond to recent developments in Industry 4.0 trends in the EU.”
Various Advantech product divisions from headquarters are now fully connected with European frontline business teams, and the compound annual growth rate from 2014 to 2017 has reached 25%. Over the next three years Advantech will seek to one elevate operation levels in the UK, France, Germany, Italy and the Netherlands; two establish branch offices in emerging European locations for conducting business and providing technical support; and three focus on key industries, such as machine and factory automation, medical, transportation and automotive, as well as expanding deployment in Germany, the UK and the Netherlands.
To assist with the company’s growth strategy for IoT development and help various fields adopting intelligence solutions, Advantech will host for customers and partners an IoT Co-Creation Summit this coming November.