Europe’s biggest software maker SAP is planning to invest heavily in products that help companies to connect everything from washing machines to cars to the Internet.¬†Reuters brought this news to us in their article, “SAP to invest 2 billion euros in Internet of Things by end 2020.”

The German company estimates there is a 250 billion euro market in the so-called Internet of Things (IoT), in which regular objects are connected to networks to send and receive data.

By 2020, 21 billion IoT devices will be in use worldwide. This is up from fewer than 5 billion last year according to research. Part of the 2 billion euro investment plan would be reserved for targeted acquisitions, typically small bolt-on deals that fit in SAP’s IoT portfolio.

“We cooperate with Siemens, Dell, Intel, T-Systems and Vodafone among others. We talk to other partners as well. That is the direction we will continue to look at. To work with others in partnerships,” Rueckert said.

Melody K. Smith

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