DUBLIN, March 10, 2016 /PRNewswire/ --
A recent report published on Research and Markets has predicted that more than 50 billion devices will be connected to the internet by 2020. Government initiatives, increasing ICT spending and demand from enterprises and consumers will drive the IoE market, according to the report. This week, Robert Bosch GmbH announced it would launch its own "cloud" computing network to connect up anything from cars to thermostats via the Internet.
This network will transform Bosch from a manufacturer of equipment to a service provider, and put it in direct competition with U.S. tech giants Google and Amazon. According to reports, Bosch is planning to run 50 of its own in-house applications on the cloud network this year. It also plans to roll out other data centers across the globe and open up the cloud to other companies from 2017.
A report on the connected home appliance market in the United States has predicted 98.35% growth by 2019. It says increasing smartphone data usage is expected to immensely contribute to the effective remote monitoring and controlling of the smart home appliances, and drive the connected home appliance market during the forecast period. But it does identify privacy and security as critical challenges for the market in the US.
Bosch's network will be run from their computing center based in Germany, which it hopes will offset some of these fears and doubts about data security on U.S-owned servers. The market is expected to witness considerable growth over the next years, with one report predicting revenue of $38.35 billion by 2020. It says North America is leading the global market, with about 35% of the market share followed by Europe.
There is already a wide variety of applications available from Bosch that allow users to do everything from controlling the temperature of their house to finding parking spaces. The German multinational says it will invest around €548 million annually in new technologies.
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SOURCE Research and Markets