These three industries have a large existing market scale, more than USD 1.4 trillion. In addition, the compound annual growth rate (CAGR) is high, averaging more than 20%. Hon Hai's own industrial experience and technology advantages will foster future development and growth.
Hon Hai's foray into electric vehicles meet the needs of customization and rapid product development with a full-service business model consisting of complete vehicle design, key components, global manufacturing and supply chain services. In the future, the company will focus on adapting global best practices for local markets, leveraging local resources in partnership with local authorities and businesses, implementing BOL (build-operate-localize) mode, to expand our electric vehicle development and footprint.
With the onset of the pandemic, coupled with an ageing society, physical health has become a critical issue for every person, family, community, city and country.
The needs for robust healthcare solutions will continue to grow, as seen from the unprecedented pandemic, and a growing ageing population. The health industry will need to continue to digitise, and tap on technologies like software, big data and wireless communication.
Hon Hai is committed to supporting these needs in the health industry with an integration of hardware and software and using its core capabilities such as precision assembly, opto-mechatronics, key component development, and semiconductor packaging and testing.
With an ageing population and low birth rate, the cost of labor acquisition will increase year by year, bringing about a greater need for the use of robotics manufacturing.
Hon Hai will continue the research and development of industrial robots to foster the growth of the mobile robot industry. Apart from investing in key robot technologies, Hon Hai will also establish a robotics manufacturing platform to help customers tap on such technologies and bring about a greater convenience for many in the society.