Industry News

Samsung to invest $1.2 Billion in ‘Internet of Things’

United States: The global leading smartphone and consumer electronics manufacturer, Samsung Electronics announced to invest in new innovative technologies of ‘Internet of Things’ via its United States divisions and establishments such as ‘Samsung Global Innovation Center’. As well, the company plans to strengthen its corporate relationships with technology start-ups in Silicon Valley.

The company plans to invest $1.2 Billion over the next four years. However, Samsung has not disclosed the elaborative plan.

Recently, the company has also entered into the partnership with Intel Corp to form a ‘National IoT Strategy Dialogue’, a firm comprises of industry experts and academic experts. The aim of the firm is to discuss IoT related issues.

TechSci Research analyses that with the emergence of various concepts such as smart homes, connected cars, intelligent transportation system, and so on; Samsung is developing technology for the future requirement. With the smartphone working as the center control systems of connected devices, the company strategize to open a new revenue stream.

According to a recent report published by TechSci Research, “Global Smart Homes Market By Application (Energy Management Systems, Security & Access Control Systems, etc.), By Technology (Wireless Communication Technology, etc.), By Region, Competition Forecast and Opportunities, 2011 – 2021”, the global smart homes market is projected to cross $ 60 billion by 2021. On the basis of application, the market has been segmented into five categories, namely, Energy Management Systems, Security & Access Control Systems, HVAC Control Systems, Entertainment Control Systems and Others. Among these categories, Energy Management Systems dominated the global smart homes market in 2015. With increasing government efforts to optimize energy consumption, the adoption of energy management systems is expected to further increase in the coming years. In 2015, North America dominated the global smart homes market, followed by Europe, Asia-Pacific, Middle East & Africa and South America.

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