Despite of the general slowdown in corporate spending, we predict a quantum leap in IT Security spending quantum thanks to the growing of awareness of cyber-attacks and the huge damages caused.
Since IT Security usually only represents a small portion of the entire IT or corporate spending, any increase in spending does not have much impact on the company's general business performance. In fact the Malaysian organisation boosts the confidence of their customers and partners by committing to a more secure IT strategy.
On Strategy to Adopt:- In 2016, the most important emphasis for Malaysian companies in the area of IT security is 'Know Thyself' - meaning start by understanding the maturity level of the organisation's IT security, before moving forward to decide what to strengthen or ignore.
Many local organisations today are being influenced by various brands and vendors who sell the promise that the adoption of certain technologies equals a strong, impenetrable defence system for the company's data assets. Many organisations have spent millions of ringgit and yet continue to be highly vulnerable to all sorts IT Threats. So for 2016, prioritise on having a visibility of your current IT activities, the most valuable company assets and how 'exposed' are these; then use this information to form the basis of the organisation's IT Security strategy and spending.
On Technology Trends: In 2016, Big Data will be deployed at a higher degree in this critical area of enterprise cyber-defence. It will allow for organisations to process unstructured data (from various sources) for more visibility and analytics for in IT Security strategies - primarily to predict more accurately for possible attacks or data leakages.
With a focus on energy across Malaysian industry, Soo Pow Leong (pic), Country President of power and cooling solutions specialist Schneider Electric Malaysia, said: Some of the highlights in 2015 include the development in the transportation industry such as MRT (mass rapid transport) & LRT (light rapid transport) Projects and PETRONAS RAPID (refinery and petrochemical integrated development) project in Southern Johor, Malaysia.
The PETRONAS project is by far the largest liquid-based green-field downstream undertaking in Malaysia. It will enable a 300,000 barrels per stream day refinery and will supply naphtha and liquid petroleum gas feedstock for the RAPID petrochemical complex. This is in addition to producing a host of refined petroleum products, including gasoline and diesel that meet the Euro 4 and Euro fuel specifications. Both these projects will require a great deal of intelligent IT and energy management solutions.
2015 has been a challenging year for the industry as we face a volatile currency environment with the Ringgit depreciating against the US dollar, indirectly causing a slowdown in investments across different industries. Despite the moderation in global economic growth, volatility in the financial markets and declining commodity prices, Schneider Electric Malaysia has shown progressive growth by proceeding with projects in the transportation industry, MRT & LRT Project and the Oil & Gas Petronas Rapid project.
In Malaysia, we saw a steady growth in the IT Business and Buildings segment of our business. This is largely due to the fact that our solutions are built on industry-leading expertise in a vast range of essential fields: data centre technology, monitoring systems, power protection, cooling equipment, IT system integration, building control, security systems-and more. For example, our building automation solutions such as the Struxureware Building Operation solution save up to 30 percent on a building's energy expenditure while providing integrated monitoring, control and management of energy, lightning, fire safety and HVAC.
Also, in 2015, Schneider Electric launched new global brand strategy that comes at a critical point of transition for the industry and when businesses are being transformed by urbanisation, digitisation and industrialisation. The strategy, Life Is On, is powered by Schneider Electric's Operational Intelligence approach to Internet of Things (IoT) which will transform how people and organizations consume energy, better automate industrial processes, and increase the quality of business decisions, while improving their lives.
Energy management is the means to controlling and reducing energy consumption. With the recent announcement that the government has decided to reduce rebate on power tariff to 1.52 sen per kWh, from 2.25 sen per kWh currently, consumers in Peninsular Malaysia will have to pay 0.73 sen per kilowatt hour (kWh) more for electricity for the next six months, beginning Jan 1. This move will make business owners prioritize the importance of energy efficiency in their businesses. It is even critical for the manufacturer to take this opportunity to adopt energy management standards. With efficient energy management, business owners are able to plan, gauge and estimate electricity usage and have the ability to improve how energy is managed on a daily basis and drive down their cost of production.
In this challenging environment, we still see opportunities for growth and will continue to accelerate our growth initiatives especially in the Oil & Gas segment. With our solutions and services, we help customers maximize the efficiency of their power management systems to ensure distribution that works seamlessly, all the way from utility services to entrance plug and everywhere in between to ensure they are always connected. Also, the convergence of IT and energy management is fuelling the next industrial revolution, and this will be the key growth area for us.
The emergence of IoT is changing the way people interact with each other through the evolving of technologies. There is a huge demand for automation, intelligence and remote access to that intelligence in the energy management sector as today's industrial environment requires for greater efficiency, productivity, and improved performance. As a result, it is crucial for businesses to understand the need for an integrated approach of automation and energy management such as process control equipment, monitoring systems, and remote access to come together to impact productivity and efficiency to ensure factories run more smoothly.
According to McKinsey Global Institute, it is reported that there's a 300% increase in connected Machine to Machine (M2M) device connections over the past 5 years. The critical systems of our infrastructure - the power grid, transportation systems and industrial technology - all rely on the Internet and the interconnected devices and will have to be able to cope. With so much depending on automation and interconnectedness of machines, devices and people, connectivity and energy efficiency remain the two most valuable business strategies for improving business profitability. This is a great opportunity for Schneider Electric.
From the simplest of switches to the more complex operational system, our solutions enable customers to automate, monitor, and control their processes and machines to make living more sustainable. Schneider Electric enables smart utilities with innovative solutions, software with Advance distribution Management system provides greater network reliability, seamless automation, enhanced security and safety and improved operational efficiency.
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