Greenwave Systems is opening a new Research & Development Centre in Singapore to further expand its innovation capabilities for the Internet of Things.
To be located in Science Park II, Singapore, the new facility will focus on delivering state-of-the-art IoT technologies to its media, service provider, insurance, utility and consumer electronics partners and customers globally.
Today, Greenwave has over 230 employees worldwide across offices in the U.S., Denmark , Singapore and Korea. With the opening of its new 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 Internet of Things (IoT) business,” said Thien Kwee Eng , Assistant Managing Director at the Singapore Economic Development Board.
“With the rise of digitization 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 International Data Corporation (IDC), based upon an extensive global market study, the worldwide IoT market is forecast to grow from $1.3 trillion in 2013 to $3.04 trillion 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 recognizing 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 use to connect devices and enable network-based services for their customers. With broad support of popular wireless communication protocols, Axon integrates broad device ecosystem management with video experience to deliver a powerful 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 highly targeted revenue-generating business models.
But concerns still surround the development of standards or the securing of devices.
Jim Hunter, Chief Scientist at Greenwave Systems said that he sees IoT as it applies to residential and building, with the standards bodies work that are currently going on, open standards are very different from standards bodies. He gave the examples of Thread, HomeKit, OIC, AllJoyn as examples of standards bodies that couldn’t actually be considered open standards, as opposed to something like IETF or W3C.
But he said that if the question is ‘if standards will find their way into products in the home’, then it is already happening today and that’s part of the challenge is: there’s lots of standards to choose from – From ZigBee to Z-Wave, AllJoyn, OIC, HomeKit to Thread.
“The challenge we have moving forward is not if standards will make it into products in the home, but which standards will, and how they will interoperate,” he said, “And that’s where Greenwave solves the problem. We sit on top of all of the standards and translate into and out of those standards to provide a value proposition across the entire ecosystem.”
And we shouldn’t think that we’re done with standards. Amazon hasn’t put their footprint yet. Neither has Twitter or Facebook, officially. So there is more standards work to come that will increase the noise rather than to settle it.