Singapore EDB, NEC to develop IoT platform

eGov Innovation editors
17 Nov 2014
00:00

The Singapore Economic Development Board (EDB) and NEC Corporation have agreed to develop an IoT platform that will benefit businesses across industries.

The goal is to jointly undertake research in areas that are crucial for developing safe and secure societies, including cyber security, smart energy and healthcare through NEC-driven IoT solutions.

"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.

In the area of healthcare, NEC and EDB will collaborate to resolve healthcare issues, including developing elderly related solutions that will improve the efficiency of healthcare operations. With Singapore estimated to have an elderly population (over 65 years old) of 11% by 2050, the demand for healthcare services for the elderly is on the rise.

In separate efforts, collaboration with EDB in the areas of cyber security focuses on talent development to promote security capability in Singapore and the region. In the area of smart energy, the partnership focuses on energy management and control, smart grid, energy storage and renewable energy integration.

Other areas that the partners are looking into include Software-Defined Networking (SDN), satellite technologies, retail solutions and leadership development.

"We believe that NEC’s plans are well-aligned with EDB’s vision for Singapore to be the digital innovation capital of Asia. 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 Yeoh Keat Chuan, Managing Director of the Singapore Economic Development Board.

Research firm IDC recently released an IoT ecosystem forecast showing that the IoT market is poised to grow from $1.3 trillion in 2013 to $3.04 trillion in 20120 with a compound annual growth rate (CAGR) of 13%.

Dr. Nobuhiro Endo, President, NEC Corporation, and Yeoh Keat Chuan, Managing Director, Singapore Economic Development Board.

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