To collaborate on cyber security, smart energy, healthcare, and the internet of things
NEC and the Singapore Economic Development Board (EDB) announced the signing of a Memorandum of Understanding (MOU) to research and collaborate in areas that are essential to the realization of a safe, secure and efficient society, including cyber security, smart energy, healthcare, and the Internet of Things (IoT).
The partnership aims to promote and drive economic growth in the industry through NEC-driven, innovative IT solutions, talent development programmes and research collaboration within Singapore.
The collaboration with EDB will see NEC developing an Internet of Things business platform that will benefit businesses across industries as well as create new capabilities and business opportunities.
According to a newly released IoT ecosystem forecast from International Data Corporation (IDC), the worldwide IoT market is forecast to grow from $1.3 trillion in 2013 to $3.04 trillion in 20201 with a compound annual growth rate (CAGR) of 13%. IDC defines the Internet of Things as a network of networks of uniquely identifiable endpoints (or “things”) that communicate without human interaction using IP connectivity – be it “locally” or globally.
“ We encourage NEC to continue 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 Mr. Yeoh Keat Chuan, Managing Director of the Singapore Economic Development Board.
“ 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 Dr. Nobuhiro Endo, President, NEC Corporation.
