Application in public sector
IoT is hardly a new technology in Malaysia. The government, under the Malaysian Ministry of Science, Technology, and Innovation (MOSTI), launched the National IoT Strategic Roadmap in 2015. Its goal was to develop a supportive ecosystem for the IoT technology in the country, in line with the country’s ambitious objective to turn into a technologically advanced economy.The application of an IoT system can be found in the capital, Kuala Lumpur, which has now earned its status as a smart city. Kuala Lumpur scored considerably high on technologies that require IoT and automation technology, for example, in the mobility sector, where residents can now easily access public transport apps or get live information on traffic congestion through their smartphones. With other big cities in Malaysia with millions in population , like Johor Bahru in Johor or George Town in Penang, the revenue of the smart cities industry in the country is expected to hit around one billion U.S. dollars by 2028.
Smart devices need better security
Not only in smart homes, the utilization of IoT technology can also be found in everyday devices used in Malaysia. Ownership of smart wearables like smartwatches or fitness trackers is common in more than half of Malaysian consumers, according to a 2022 survey. These wearables can be easily integrated with other devices. In addition to the consumer market, large industries in the country, like manufacturing or agriculture, are also vying for more efficiency with the utilization of IoT technology. Sensors and automation can help to increase productivity in these industries.Nonetheless, constant interconnectivity through the internet has raised the question of security. These days, consumers are more prone to cyberattacks. In 2022, in Malaysia alone, there were more than 28 thousand recorded cyberattacks, an increase compared to five years ago. This created an opportunity for the cybersecurity industry in Malaysia, which was valued at around 400 million U.S. dollars in 2022. With faster networks, more advanced technology, and better cybersecurity, the IoT in Malaysia can be a catalyst for digital economic growth.
