- Speeds development of new IoT technologies for smart home, wearables, smart city, Industry 4.0 and robotics applications
- Opens the door for joint demonstration facilities to commercialize IoT technologies
- Enables new paths to market to address the rapid growth of IoT in China
Shanghai, China ––December 1, 2015— SITRI, the innovation center for accelerating the development and commercialization of “More than Moore” solutions to power the Internet of Things, and Bosch China—through its subsidiary Bosch (China) Investment Ltd.—a leading global supplier of technology and services, announced today they have signed an agreement to collaborate on the study, development and promotion of solutions and applications for the rapidly growing IoT(Internet of Things) space. The agreement covers IoT applications such as smart home, wearable devices, smart city, Industry 4.0 and robotics.
The agreement facilitates the development of new paths to market for products destined for the rapidly growing China IoT market, for which some analysts have forecasted a CAGR of over 30 percent between now and 2019.It also opens the door to the possible future development of joint demonstration facilities to speed the commercialization of IoT technologies and products.
“Innovation and applications in the IoT space are developing rapidly, especially in China,” said Dr. Charles Yang, President of SITRI. “Bringing together Bosch’s global technology leadership with SITRI’s unique platform for rapid incubation and commercialization of new IoT technologies will enable a fast start on designs that can be commercialized quickly for this fast moving market.”
SITRI is emerging as the center for “More than Moore” commercialization and industry development, providing 360-degree solutions for companies and startups pursuing these new technologies, including investment, design, simulation, market engagement and company growth support. SITRI is associated with the Shanghai Institute of Microsystem and Information Technology (SIMIT) and the Chinese Academy of Sciences, and has established strong ties to a broad range of Chinese industry, research and university players. This ecosystem enables these new businesses to grow by quickly taking their innovations from concept to commercialization.
About SITRI: SITRI(Shanghai Industrial µTechnology Research Institute)is an innovation center established to accelerate the development and commercialization of “More than Moore” solutions to power the Internet of Things. As a global organization, SITRI offers its partners and customers a 360-degree solution offering – from funding, IP and ecosystem development to engineering services, marketing research, manufacturing resources and China market access – helping them more quickly move their ideas from concept to commercialization. For more information, visit www.sitrigroup.com.
About Bosch: In China, the Bosch Group manufactures and markets automotive original equipment and aftermarket products, industrial drives and control technology, packaging technology, power tools, security and communication systems, thermo technology, household appliances. Having established a regional presence in China since 1909, Bosch employs close to 53,000 associates (as per April 1, 2015) and operated 62 legal entities and facilities, with consolidated sales of CNY 52.1 billion in fiscal 2014.
The Bosch Group is a leading global supplier of technology and services. It employs roughly 360,000 associates worldwide (as per April 1, 2015). The company generated sales of 49 billion euros in 2014.* Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiary and regional companies in some 60 countries. Including its sales and service partners, Bosch is represented in roughly 150 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. In 2014, Bosch applied for some 4,600 patents worldwide. The Bosch Group’s strategic objective is to create solutions for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.”
*The preliminary sales figure disclosed for 2014 does not include the former joint ventures BSH Bosch und Siemens Hausgeräte GmbH (now BSH Hausgeräte GmbH) and ZF Lenksysteme GmbH (now Robert Bosch Automotive Steering GmbH), which have since been taken over completely.
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