Indonesia – Huge potential for Smart Home, Smart Building, Smart Office and Smart City in ASEAN
Indonesia with over 260 million of population and the largest archipelago in the world comprising has become the largest economy in South East Asia. McKinsey predicted that Indonesia will be the 7th largest economy in the world alongside productivity improvements within sectors and urbanization by 2030.
The Indonesian government launched the Industry 4.0 initiative called “Making Indonesia 4.0” and “Towards 100 Smart Cities”. The smart cities will include smart homes, smart offices, smart energy, and smart buildings. A more efficient use of energy and greater utilization of renewable energy sources will lead to a reduction in carbon emissions resulting from energy production.
Smart Living technology is rising and trending in Indonesia. Most of apartment, hotel, office, hospital and building are moving to smart building technology for safety reason. Based on Statista, revenue in the Smart Home market amounts to US$ 303m in 2019. Revenue is expected to show an annual growth rate (CAGR 2019-2023) of 47.1%, resulting in a market volume of US$ 1,415m by 2023.