The Singapore Economic Development Board (EDB) and NEC Corporation has signed a collaboration agreement to develop an Internet of Things (IoT) platform for businesses across industries, reports eGovinnovation.
Jointly they aim to undertake research in prime areas for developing cyber security, smart energy, and healthcare through NEC-driven IoT solutions.
With Singapore’s position as a regional hub for technology and business within Asia Pacific, the partnership will create new opportunities for research and growth in Singapore and the region, said, Nobuhiro Endo, president, NEC.
In healthcare segment, NEC and EDB will collaborate to focus on elderly related health care solutions, improving the efficiency of operations.
Singapore will have 11 percent of an elderly population by 2050 and accordingly the demand for healthcare services for the elderly will rise.
In various attempts, collaboration with EDB in cyber security field focuses on talent development to promote security capability in Singapore.
In smart energy sector, the partnership focuses on energy management and control, smart grid, energy storage and renewable energy integration.
The partners also plan to include Software-Defined Networking (SDN), satellite technologies, retail solutions and leadership development.
NEC’s plans are well-aligned with EDB’s vision for Singapore to be the digital innovation capital of Asia. NEC is encouraged to tap on Singapore’s sophisticated demand base to co-develop new products, solutions and services across different industries such as healthcare and retail, said, Yeoh Keat Chuan, MD, Singapore Economic Development Board.
Recently, research firm IDC has released an IoT ecosystem forecast that the IoT market will grow from $1.3 trillion in 2013 to $3.04 trillion in 20120 at a CAGR of 13 percent.
Sabeena Wahid
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