Greenwave to open IoT research centre in Singapore
February 4, 2015
Global IoT software and managed services provider Greenwave Systems is opening a research and development centre in Singapore. The facility will focus on delivering IoT technologies to its media, service provider, insurance, utility and consumer electronics partners and customers globally.
Greenwave has more than 230 employees worldwide across offices in the USA, Denmark, Singapore and Korea. With the opening of the R&D centre, Greenwave expects to grow its Singapore-based team from 80 to approximately 120 employees.
“We welcome the establishment of Greenwave’s new R&D centre in Singapore, and are pleased that Greenwave has chosen Singapore to be its platform to grow its IoT business,” said Thien Kwee Eng, assistant managing director at the Singapore Economic Development Board. “With the rise of digitisation and opportunities in consumer businesses, as well as media and energy management, we encourage Greenwave to continue to leverage Singapore’s talent pool, research institutions and sophisticated demand for the co-creation of advanced IoT technologies for the Asian market and beyond.”
According to a recent report from IDC, based on a global market study, the worldwide IoT market is forecast to grow from US$1.3tn in 2013 to $3.0tn in 2020. In addition, government mandates will drive the western Europe and Asia-Pacific regions to outpace North America in terms of IoT revenues and installed base through 2020.
“We applaud the Singapore Economic Development Board’s vision in recognising IoT and M2M as exciting and strategic areas to drive economic growth in Singapore,” said Martin Manniche, Greenwave Systems founder and CEO. “Since Greenwave was already established in Singapore, we’ve had the opportunity to see first-hand how the nation’s focus on innovation and technology has attracted superb talent and exciting business prospects. This was key in our decision to establish an R&D centre in Singapore as we look to expand our presence not only across Asia-Pacific but also the global market.”
Greenwave’s Axon managed services platform is the technology that global brands can use to connect devices and enable network-based services for their customers. With support of popular wireless communications protocols, Axon integrates device ecosystem management with video experience to deliver a whole-home network, media, control and monitoring experience. Axon is a managed modular platform upon which services and applications can be deployed and maintained, and provides device-powered real-time data that can be used to create targeted revenue-generating business models.
The R&D centre will be located in Science Park II in the west of Singapore.