Advantech European new growth strategy 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 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 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.
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 1) elevate operation levels in the UK, France, Germany, Italy and the Netherlands; 2) establish branch offices in emerging European locations for conducting business and providing technical support; and 3) 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.