LIGHT bulbs which can tell when you are on your way home and turn on accordingly? A smart thermostat which adjusts the temperature to help you save energy?
Those are a couple of the futuristic applications for "smart homes" Greenwave Systems has developed.
And with a new research and development (R&D) centre opened yesterday, it is looking to tap local talent to further its innovation.
The company, which creates Internet of Things software and managed services, moved its operations into The Alpha in Science Park II in late December.
The R&D centre is at the same location.
The Internet of Things (IoT) refers to the interconnection of devices using existing Internet infrastructure.
It connects smart objects, such as lighting systems or thermostats, which can communicate with humans or each other.
With the opening of the new centre, the firm hopes to expand its Singapore team of 80 employees to about 120, and has plans to invest $100 million on the centre in Singapore over the next five years.
Greenwave Systems chief executive Martin Manniche said: "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."
Greenwave's Axon platform allows a wide range of IoT devices to "talk" to each other by translating their communications to a standard "language".
It then works with customers such as Verizon, DirectTV and E.ON to develop smart products that communicate using this platform.
The market for IoT technologies is growing rapidly, with a recent report from International Data Corporation, a global market intelligence firm, forecasting it will grow from US$1.3 trillion in 2013 to US$3.04 trillion in 2020.
Said Ms Thien Kwee Eng, assistant managing director of the 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... for the co-creation of advanced IoT technologies for the Asian market and beyond."
This article was first published on Jan 28, 2015.
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