SAP and Bosch team up on Internet of Things
- Wall Street falls as investors ready for Trump's inauguration
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
- Skyworks Solutions (SWKS) Tops Q1 EPS by 3c, Offers Q2 Guidance, Announces Buyback
- After-Hours Stock Movers 01/19: (SWKS) (QRVO) (NVAX) Higher; (AFMD) (SGYP) (IBM) Lower (more...)
The logo of German software group SAP is pictured at its headquarters in Walldorf, Germany, May 12, 2016. REUTERS/Ralph Orlowski/File Photo
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
WALLDORF, Germany (Reuters) - Europe's biggest software firm SAP
The companies said on Wednesday they will combine Bosch's platform and SAP's back-end software to connect vehicles, manufacturing machinery and tools of Bosch customers.
By 2020, some 21 billion Internet of Things (IoT) devices will be in use worldwide, up from fewer than 5 billion last year, research firm Gartner has estimated.
The companies said they planned to make SAP's real-time database HANA available to Bosch customers to monitor production processes.
The technology, for example, allows a production system to select the torque for each screwdriver's task, increasing efficiency.
A long-time SAP customer, Bosch expects its own "connected industry" activities to deliver 1 billion euros ($1.12 billion) in cost savings by 2020 and to generate an additional 1 billion euros in sales.
(Reporting by Harro ten Wolde; editing by Jason Neely)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Fed's Yellen says unwise to allow U.S. economy to run 'hot'
- Japan business mood up on growth prospects, wary on outlook: Reuters Tankan
- Mexico's El Chapo: From most wanted kingpin to extradited jailbird
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!