GLOBAL technology services provider Bosch wants to cash in on demand for quality products and smart technologies in emerging markets such as China, India, and ASEAN member countries, the company said.
To do so, the Germany-based company will invest €1.2 billion in the region which it sees as potentially the world’s leading market for Internet of Things (IoT).
“Especially when it comes to connectivity, we can see huge potential in Asia Pacific. Thanks to its broad footprint, Bosch is ideally positioned to offer cross-domain solutions from a single source,” said Peter Tyroller, the member of the Bosch board of management responsible for the region.
As growth rates have now reached sustainable levels, particularly with demand for quality products from the middle class, the APAC region offers a significant opportunity for the supply of technology and services, the company added ahead of 14th German Industry Asia Pacific Conference (APK) in Hong Kong.
Connected solutions are being championed in places like China with the government’s ‘Made in China 2025’ initiatives and India’s ‘Make in India’ initiative established to modernize manufacturing in India.
Bosch offers solutions in the areas of powertrain technology and automation, as well as sensor technology and software.
It also focuses on a number of connected solutions for smart cities, also a focus of many Asian nations, such as Singapore. These include mobility concepts and solutions that can connect power grids and lighting systems, traffic infrastructure and buildings.
In 2015, Bosch generated sales of €19.2 billion in the region, and thus roughly 27 percent of its global sales.
Over the previous three years, Bosch invested €2.5 billion in the APAC, representing around one-quarter of all Bosch Group investments for that period.
The company already has a considerable presence in the region operating in more than 60 locations in 18 countries.