Japanese conglomerate, Hitachi, has set up a new business team to consolidate its forays and exploit financial opportunities in the emerging Internet of Things (IoT) market. The company said it will invest about ¥1 billion ($865 million) this year into developing IoT products for use by companies such as automakers, telecommunications companies, banks and utilities. Hitachi's IoT portfolio includes goods and services designed for a variety of sectors including agriculture, manufacturing, smart cities, transport, urban development and mining, the idea is that customers will be able to choose the core modules that they need and tailor them to their individual requirements.
Japanese conglomerate, Hitachi, has set up a new business team to consolidate its forays and exploit financial opportunities in the emerging Internet of Things (IoT) market. The Hitachi Insight Group (HIG) aims to oversee the development of a range of digital goods and services anchored on a Lumada IoT core platform, which incorporates a software design that allows for customisation by partners and customers. Hitachi's IoT portfolio includes goods and services designed for a variety of sectors including agriculture, manufacturing, smart cities, transport, urban development and mining, the idea is that customers will be able to choose the core modules that they need and tailor them to their individual requirements.