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SAP To Invest $2 Billion In Connected Devices

  • Bloomberg, Thursday, September 29, 2016 9:05 AM

The global market for connected sensors and smart devices will be worth an estimated 250 billion euros ($279 billion) by decade’s end, according to German software maker SAP SE, which is why it’s spending 2 billion euros through 2021 to stay ahead of the curve. SAP said Wednesday it would invest the amount over the next five years as it develops tools to tackle big data analysis for industrial customers under a new software and consulting brand called SAP IoT. Walldorf, Germany-based SAP intends to connect factories, ships, trucks, wind farms and other industrial equipment to data processing and analysis software that could help such businesses more efficiently monitor and process the vast quantities of real-time data they will increasingly generate.

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