German Multinational Technology Company Siemens to Make $500 Million IoT Investment in the Middle East
April 17, 2018
German multinational technology company Siemens AG (Siemens) is to make a $500 million investment in the Internet of Things (IoT) in the Middle East. Siemens, which has global headquarters in Munich, Germany, was established in 1847 and is a globally recognized brand. The company operates in a range of areas including digitalization, electrification and automation, but it is also involved in mainstream engineering and manufacturing activity. Siemens’ IoT investment will take place over a three-year period.
Siemens will build two IoT facilities in the Middle East, both in the United Arab Emirates (UAE) – in Dubai and Abu Dhabi. The investment underscores the company’s considerable presence in the region, which includes a workforce of 8,029 personnel. Siemens will leverage its MindSphere cloud-based IoT operating system for the projects.
The company targets building 20 MindSphere Application Centers in 17 countries that will offer customers machine learning and data analysis services. In Abu Dhabi the MindSphere center will offer “operational efficiency for customers in areas like water, waste and oil and gas” while the Dubai facility will focus on airports, cargo and logistics solutions.
"The internet of things has arrived and is set to transform industries and cities," explained Chief Technology Officer Roland Busch. “However, many companies are still in the early stages of adopting digital strategies and incorporating them into their business models. We see vast potential for the adoption of digital technologies in the Middle East and want to support the region's transformation in various ways, ranging from youth development to setting up our MindSphere Application Centers."
Do you know of any other companies making IoT investments? Let us know the details. Add your comments below.