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 1-2, 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 Center in Eindhoven recently. The completion of this center 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 optimization of local organizations, 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 elevate operation levels in the UK, France, Germany, Italy and the Netherlands and establish branch offices in emerging European locations for conducting business and providing technical support. 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. The summit will take place at the International Expo Center in Suzhou (China) on November 1-2, 2018, where the results of cooperating with various eco-partners will be showcased.