Arrow Electronics, Inc., (NYSE: ARW) today announced its collaboration with AIRmaker, a Singapore-based Internet of Things (IoT) accelerator, to support AIRmaker’s goals of helping startups achieve their business objectives. As a technology advisor, Arrow will help AIRmaker program startups become more effective and productive in their idea-to-impact product journey through overcoming technical challenges and gaining critical IoT technology know-how, to turn a design into a product ready to be manufactured.
Asia Pacific is set to be at the forefront of IoT, with the number of connected devices expected to increase from 3.1 billion to 8.6 billion by 2020, creating a US$583 billion (£454.62 billion) market opportunity, according to IDC. Another study conducted by Telenor Group which surveyed technology enthusiasts in Asia revealed that more than a third (38 per cent) are most likely to create an IoT startup this year, the highest percentage among other startup trends. This presents an opportunity for Arrow and AIRmaker to grow its business offerings in the IoT startup area in Asia Pacific.