Asia's rise in the world of technology

Asias rise of technology

Many Asian countries have established themselves as global tech giants and have been able to cement their positions permanently in the world of technology. This has been possible primarily because of the strides made by some major private sector firms in the field of technology. Many companies that are headquartered in Asian countries have made pioneering advances in the sectors like the development of electronic and electrical devices suitable for domestic and commercial usage. Similarly, many Asian based firms have made commendable advances in Information Technology (IT), Digital Information, Internet of Things, and eCommerce. Even the development of various social media platforms has also originated from Asia. Sometimes the consumer is unaware that he or she is using products the parts of which have been manufactured in factories that are in Asian countries of China, Taiwan, India, or Malaysia. Be it the IT aspect of a pharmaceutical firm or the software development of the latest SUV, most of these are outsourced to companies located in Asia. The growth of Asia in the world of technology can be traced in the following manner:

Development of IT companies

One of the most significant events that Asian countries have seen due to outsourcing done by companies located in the Western hemisphere is unprecedented growth in the IT sector. Software and IT companies have flourished in the past three decades because of outsourcing. However, over the past decade, these companies have started becoming independent software firms that have begun entering into equal partnership with Western software giants. Similarly, many of these firms have gone on to acquire smaller and medium-sized tech companies that had earlier had been outsourcing work to Asian companies. Similarly, companies that begin as start-ups have gone on to become reasonably big IT companies and are making changes in the software industry. This has made Asian companies and the continent as a whole a tech giant. Numerous smaller IT companies that have been creating innovative contributions to the IT industry have also led to the rise of Asia as a strong player in the world of technology. The development of medium and large IT companies across the various countries of Asia has made it one of the major competitors in the global tech world.

Growth of the pharmaceutical industry

The pharmaceutical industry has also moved away from being entirely dependent on the laboratory to becoming increasingly reliant on software. Hence new and improved software needs to be developed that can be used to display various simulations starting from the market response of a new drug, the impact of a new drug, and even permutation combinations of existing drugs. The impact and implications of software in the pharmaceutical industry are reasonably new and one that is being explored by the IT and software firms located in Asian countries. Moreover, many pharmaceutical products that are used for domestic purposes like cleaning fluids, acids, and detergents are also manufactured in Asian countries. Similarly, many other FMCG products like soaps and toiletries, and not just prescription drugs are manufactured in Asian countries like China, India, Taiwan, Malaysia, and Singapore. Hence, for these countries exploring the software aspect of these industries can prove to be highly profitable, and most software firms located in these countries are doing this successfully. This has also helped position the Asian countries as tech giants in the world. 

Development of various social media platforms

The Asian nations have recently entered the race in the event of social media platforms with innovative options of creating and posting video clips, audio clips, and many more such alternatives that seem to attract the modern generations. Another aspect of these social media platforms is multiplayer games, wherein individuals can play games from across continents. Thus, by using the Internet, the creators of social media platforms can attract modern generations and create an immense amount of web traffic. The social media platforms usually thrive on advertisement revenue, which now gets diverted to these Asian companies developing these social media platforms. Thus, here too, the Asian companies are ahead in the race, thereby cementing the position of the Asian nations in the world of technology.

Development of electronic and electrical gadgets

The ability of Asian companies to develop electronic devices suitable for domestic usage is nearly unparalleled. Many companies headquartered in Asian nations of China, Malaysia, Singapore, Japan, and South Korea manufacture consumer goods like washing machines, air conditioners, dishwashers, refrigerators, and microwave ovens that are sold across the globes. Most of the renowned names in the world of electronic and electrical items are Asian companies. Similarly, many smartphone companies and firms developing Android devices are headquartered in Asian countries. These companies have also emerged as a market leader when it comes to the development of smartphones and Android devices that are user friendly and, at the same time, has all modern features. This unique combination and innovation have also made these firms market leaders in their respective fields and, by extension, have helped Asia emerge as a leader in the world of technology. 

Growth of start-ups

In recent years Asian nations have also seen a rise in the number of start-ups that have brought new and modern innovations in the software and IT industry. These young entrepreneurs have also played a crucial role in strengthening the position of Asian nations as significant players in the global tech industry. Many of these smaller firms have merged to become more prominent firms. They have become recognized names in their specific sectors and subsequently ensured Asia's rise in the world of technology.

Thus, the continent that was considered to be composed of nations that were primarily underdeveloped or developing has emerged as one of the major players in the world of technology. This has been made possible by the combined effort of software firms, IT giants, manufacturing companies, pharmaceutical industries, eCommerce, and even start-ups. ThereforeAsias rise of technology, the future of Asia nations and their position in the world of technology will only become more influential soon.


Reference URL

https://www.bloomberg.com/professional/blog/asia-leading-fintech-revolution/

https://blog.bosch-si.com/digital-transformation/asia-leads-the-world-in-digital-transformation/

https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/digital-innovation-in-asia-what-the-world-can-learn

https://www.forbes.com/sites/quora/2018/09/28/what-asias-technology-trends-mean-for-the-rest-of-the-world/#5837ac41530b

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1011 Words

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Jun 05, 2020

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