Hitachi said the creation of Hitachi Insight Group will allow the firm to capture market share in a fast-growing sector that has been predicted to worth $1.46tn by 2020.
According to the Japanese tech firm, the newly formed Hitachi Insight Group will be the ‘tip of the spear’ in Hitachi’s quest to capture market share in what IDC projects to be a $1.46 trillion market opportunity by 2020.
In order to enhance its existing portfolio and support the development of new solutions and services, the company has created Lumada, Hitachi’s IoT core platform.
Lumada’s open, adaptable software architecture is designed to accelerate the development of IoT solutions, while providing flexible support for customization and co-creation with Hitachi’s customers and partners, says Hitachi.
Commenting on the latest development at Hitachi,Vernon Turner, senior vice president, enterprise systems and IoT research fellow at IDC says: “The greatest opportunity for IoT lies in the enterprise, industrial and public sector markets, which stand to benefit significantly from digital transformation. Although the market is still nascent, digitalization is already disrupting traditional product-based business models, driving demand for solutions and an everything-as-a-service approach.”
According to Turner, “few companies possess the expertise and breadth of resources required to deliver IoT solutions and services, and drive real business value at scale. With today’s announcements, Hitachi is making good progress toward positioning itself to be one of the few likely IoT powerhouses as the market shakes out,” adds Turner.
Hitachi’s IoT portfolio includes solutions and services for public safety and smart cities, renewable and sustainable energy, intelligent transportation, precision agriculture and manufacturing, water treatment and urban development, construction, mining and more.
According to the company, these digital solutions deliver connected intelligence and drive actionable insights to support better business decision-making and tangible real world outcomes, like increased productivity and safety, streamlined business processes, lower cost of operations, reduced carbon footprint, and improved quality of life.
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