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.