FARO: Outlook 2017
QUAH Beng Chieh, Head of Marketing, Asia Pacific, FARO Technologies How does FARO see the current business climate? The global business climate is expected to remain bearish in the months ahead, but we are optimistic about growth across Asia. In the past year, FARO has been expanding its capabilities and enhancing its product solutions through acquisitions of new companies and technologies – like BuildIT Software & Solutions Ltd. and Laser Projection Technologies. Inc. This growth strategy has worked for us and we will continue to explore relevant industries to expand into, such as Public Safety Forensics, Factory Automation, and more. What have been the highlights of 2016 for FARO? Is business strong for the company? 2016 has been a good year for FARO all round. Earlier in March, FARO restructured its business into 5 vertically focused teams – namely, factory metrology, product design, construction BIM-CIM, public safety forensics, and 3D solutions and services applications. This restructuring exercise was motivated by our desire to develop and deliver industry and application specific solutions to our customers. In line with the restructure, the company launched a record number of new solutions for users from the 5 industry verticals, including the FARO BIM Scan Localizer, FARO Design ScanArm, FARO Laser Scanner Focus S, FARO Cobalt Multi-Array Imager, FARO Vector RI, FARO Tracer M Laser Projector, and the FARO Laser Tracker Vantage E. With this new direction, our customers now have access to different solutions that cater to their specific needs, rather than generic ones. We have received very positive feedback from the market and the sales of our new products have been steadily growing since their launch. How does FARO see the market changing? In the last decade, we have observed a shift in demand among our customers – from contact to non-contact measurement methods. […]