<article>Convergent with the recent ‘<a href="http://www.ida.gov.sg/blog/insg/featured/2014-building-a-smart-nation/" target="_blank">Smart Nation</a>’ initiative launched by the Infocomm Development Authority (IDA) of Singapore, software company Greenwave Systems has launched a new research and development (R&amp;D) centre on the Internet of Things (IoT), developing solutions for the high-growth sector.</article>

Convergent with the recent ‘<a href="http://www.ida.gov.sg/blog/insg/featured/2014-building-a-smart-nation/" target="_blank">Smart Nation</a>’ initiative launched by the Infocomm Development Authority (IDA) of Singapore, software company Greenwave Systems has launched a new research and development (R&amp;D) centre on the Internet of Things (IoT), developing solutions for the high-growth sector.
IoT refers to a network of interconnected gadgets and systems which communicate over the Internet. Research firm International Data Corporation (IDC) <a href="http://www.idc.com/getdoc.jsp?containerId=248451" target="_blank">recently forecasted</a> the global IoT market to grow from US$1.3 trillion in 2013 to US$3.04 trillion in 2020, a Compound Annual Growth Rate (CAGR) of 11.20 percent over the next few years.
Located at Singapore’s Science Park II, Greenwave plans to expand its Singapore team from 80 to 120 employees over the next few years, growing its R&amp;D capabilities. Currently, it maintains a headcount of 230 staff worldwide, with offices in the US, Denmark, Singapore and South Korea.
Greenwave Systems founder, chairman and CEO <a href="http://www.linkedin.com/pub/martin-manniche/3/844/668/en" target="_blank">Martin Manniche</a> sees extensive scale and scope for growth in IoT applications. Areas like wearable devices, energy demand management,  home safety and eldercare being are just some possibilities.
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“Since Greenwave was established in Singapore (in 2009), 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&amp;D Centre in Singapore as we look to expand our presence not only across Asia Pacific but also the global market,” said Manniche.
With Western Europe and the Asia-Pacific (APAC) expected to outpace North America in terms of IoT revenues and installed bases by 2020, primarily driven by government mandates. The Singapore government&#8217;s policy is one that aims to establish the city-state as a global IoT hub, leveraging on its existing business infrastructure and proximity to emerging economies in the region.
In Germany&#8217;s large residential solar market, Greenwave’s products enables utilities to gain insights into energy load patterns and optimal times for solar energy use. It also alerts home owners energy generated by their solar panels and optimal cleaning times, improving their performance.
<a style="color: #000080;" href="https://www.edb.gov.sg/content/edb/en/about-edb/our-leadership/executive-management/assistant-managing-directors/thien-kwee-eng.html" target="_blank">Thien Kwee Eng</a>, Assistant Managing Director at the Singapore Economic Development Board, said the agency welcomed the move, stating “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.&#8221;
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Greenwave Systems, an IoT specialist firm, is opening an R&D facility in Singapore, with plans for future expansion

Greenwave opens new R&D facility in Singapore

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Greenwave opens new R&D facility in Singapore

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