SAP Going To Invest 2 Billion Euros in Internet of Things (IOT) by 2020
More Power to IoT
What is SAP doing now?
One of Europe’s biggest software creators SAP has reserved around 2 billion euros ($2.2 billion) for investment of Internet of Things. The company will help to connect anything from washing machine to cars to the Internet. The German company will invest the amount by the end of 2020.
What is it targeting at?
SAP is targeting 250 billion-euro market for IoT, which will help regular objects like washing machine to connect to the network. Moreover, IoT is also expanding in the fields of logistics, digital farming, drones and 3D printing.
The new product line will be called SAPIoT that will syndicate large data from IoT things with artificial intelligence, machine learning and SAP’s real-time database S/4 HANA.Research firm, Gartner, has estimated that by the year 2020, 21 billion devices will be used worldwide. TanjaRueckert, SAP’s executive vice president in charge of digital assets and Internet of Things,plans to reserve a part of the $2 billion investmentfor fixed acquisition- mostly small-bolt deals which would fit into SAP’s IoT portfolio. Moreover, on Wednesday itself, the company acquired Italy’s PLAT.ONE and Norway’s Fedem Technology. Although, the financialsabout this acquisition haven’t been revealed yet. Both companies would be an integrated part of SAP’s IoT.
So do you think SAP’s investment is looking at a bright future? Do share your thoughts in our comment section below.
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