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Business News/ Industry / Infotech/  HCL partners IBM to develop IoT solutions
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HCL partners IBM to develop IoT solutions

Firms to will initially focus on connected products and operations such as remote monitoring, smart inventory management, smart building and facilities management

Since last year, the Noida-based company is raising its capabilities to tap the growing IoT market globally as well as in India. Photo: Ramesh Pathania/MintPremium
Since last year, the Noida-based company is raising its capabilities to tap the growing IoT market globally as well as in India. Photo: Ramesh Pathania/Mint

New Delhi: India’s fourth largest software services firm HCL Technologies Ltd on Wednesday said it has partnered with International Business Machines Corp. (IBM) to jointly develop internet of things (IoT) solutions.

IoT is a concept that envisages machines communicating with each other to deliver information in real time.

Under the partnership, HCL and IBM will initially focus on connected products and operations such as remote monitoring, smart inventory management, smart building and facilities management.

HCL Tech will also set up an incubation centre with IBM for IoT solutions in Noida, it said.

Since last year, the Noida-based company is raising its capabilities to tap the growing IoT market globally as well as in India. The company said last October that it would invest significantly in applications of emerging technologies such as those that power driverless cars and enable the Internet of Things (IoT) and wearable devices.

While the global market size of IoT is projected to reach $7.1 trillion by 2020, according to research firm International Data Corp., the global wearable computing market will grow from $9.2 billion in 2014 to more than $30.2 billion in 2018, according to BCC Research, a US-based technology research firm.

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Published: 16 Sep 2015, 08:55 PM IST
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