German software maker SAP SE, said Wednesday it is spending €2 billion euros through 2021 to help business and government entities benefit from the proliferation of sensors, smart devices and Big Data that is transforming business with the Internet of Things (IoT).
According to SAP, it plans to accelerate innovation in its IoT solution portfolio, increase sales and marketing, scale service, support and co-innovation, and grow its ecosystem of partners and startups in the IoT market, which is estimated to reach €250 billion by 2020.
SAP IoT aims to make sense of Big Data from the multitude of things through IoT solutions that apply machine learning and integrate with the core business applications of SAP S/4HANA, the company said.
SAP IoT includes solutions connecting people, partners, things and the physical environment, enabling organizations to extend and enrich business processes with real-time, live intelligence so that they can see where opportunities exist, achieve new operational efficiencies, and reimagine business models, products and services to deliver more immediate customer and stakeholder value, said the company.
“With billions of connected devices, we now have the potential to reshape society, the economy and the environment,” said Bill McDermott, CEO of SAP. “SAP HANA is the data platform we knew would unlock the Internet of Things. Today SAP is making another bold investment to help our customers seize the benefits of live business.