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Taiwan-based industrial and Internet of Things (IoT) solution provider ICP DAS expects its fourth-quarter revenues to be driven by new IoT products, which are expected to obtain certification by November and start shipping in December.
Currently, ICP DAS is mainly focusing on assisting Taiwan-based Formosa Plastics Group’s subsidiary to design and manufacture a new-generation distributed control system (DCS). The subsidiary had adopted controllers from different vendors for its systems to satisfy different application’s functions, but it is now counting on ICP DAS to help design a unified DCS.
ICP DAS expects the orders for DCS to strongly boost its performance in the upcoming 4-5 years and will contribute up to NT$1 billion (US$31.61 million) in revenues.
The company has also been expanding its reach to Southeast and South Asian countries including Malaysia, Vietnam, Thailand, Cambodia and India via its partnership with the Formosa Plastics Group.
Currently, ICP DAS is running an IoT project in Thailand and will use the same business model to land orders from other Southeast Asian countries.
As for 2017, ICP DAS expects its revenues to grow more than 20% in 2017 from 2016 thanks to the rapid growth in Southeast Asia.
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