Organizations should integrate their existing core expertise with new technology capabilities to drive innovation

As the impact of digitalization advances across all sectors, businesses are at a crucial turning point. They must optimize the returns from their existing resources while embracing new business models to create greater value for customers amid a challenging environment caused by the pandemic, geopolitical pressures and the supply chain crisis.

Leveraging key transformational technologies and trends driving emerging opportunities was the underlying theme at Frost & Sullivan's recent event, "Asia Pacific Perspective: What are the Transformational Opportunities in 2022?" It featured key insights into critical developments impacting industries such as energy, healthcare, aerospace & defense and technology. Participants also had the chance to listen to an in-depth panel discussion highlighting the key trends in healthcare.

With digital transformation and new technologies already disrupting multiple industries, organizations must innovate for the future to create value and drive better business outcomes. In the opening session on the 2022 Global Economic Outlook, Shivaji Das, Partner & Asia Pacific Managing Director, Frost & Sullivan, reiterated the need for companies to adopt innovative business models and leverage strategic partnerships and acquisitions to capitalize on growth opportunities.

"Global economic recovery is expected to continue in 2022, although growth scenarios have become weaker in light of restraints such as lingering supply chain disruptions, the prolonged Ukraine-Russia crisis, and cautious reopening in anticipation of new virus variants," Das said. "From a regional perspective, higher domestic spending and improved outlook for the services sector given Omicron's relatively milder impact will help accelerate the growth momentum in Asia Pacific."

Das added: "Organizations today must focus on the development of new business models and revenue strategies that can harness the potential of cross-industry expertise to be incorporated into existing technology solutions and services. As new consumer segments and services evolve, there will be significant corporate investments in transformation initiatives in areas such as product or service design, customer experience, revenue fulfillment, payment, process optimization and data analytics."

Frost & Sullivan's key analysts also shared their insights in selected areas, including:

• Growth Trends in Asia Pacific Energy Sector
• Future of Supply Chain & Logistics
• Key Trends & Opportunities in Chemicals, Materials & Nutrition in APAC
• Marketing Trends in 2022
• Drones and Urban Air Mobility (UAM) Setting New Paradigm in Air Transportation