New | Foxconn partners with French start-up for push into China’s IoT market
ThingPark China to support LoRaWAN technology, an open global standard for secure, low-power wide-area network connectivity
Taiwan’s Foxconn group of companies, the largest contract electronics manufacturer in the world, and French start-up Actility are launching a new company that will focus on the burgeoning Internet of Things (IoT) market in China.
The new Hong Kong-based enterprise, ThingPark China, combines Actility’s own IoT’s platform for connecting devices online with the Foxconn group’s vast electronics design and manufacturing capabilities.
“China is an opportunity like no other IoT market,” Actility chief executive Michael Mulica told the South China Morning Post on the sidelines of the Mobile World Congress Shanghai on Friday.
“The market is growing by 30 per cent every year, and a third of the world’s 15 billion connected things in 2020 will be in China,” said Mulica.
IoT refers to the network of devices embedded with sensors and running dedicated software that enables them to automatically collect, store and send data to other devices.
According to the International Telecommunications Union, IoT is already extensively deployed in corporate stock and inventory systems, fleet management, environmental monitoring and many other industrial processes.