Sofware AG and Bosch are teaming up to develop joint services for IoT and to extend Bosch's IoT cloud user base.

The two companies claim that customers in manufacturing, logistics and retail will reap the benefits of Industry 4.0 - the new platform - and the rapidly growing IoT market through the partnership.

Karl-Heinz Streibich, Software AG's chief executive officer, explains that the main objective is to optimally combine the expertise of Bosch as an innovation leader with their software know-how in the cloud market.

At the core of the partnership, the two companies are aiming for better development of predictive analytics tools.

Software AG says its leading Digital Business Platform will be a highly scalable component of the Bosch IoT cloud with modules for real-time data analytics and decision making.

The company also mentions that the scalability of the Bosch IoT cloud is a key element in offering an open ecosystem for many different partners.

For customers and partners of both companies, the strategic partnership will mean easier and faster development, use and marketing of new IoT services based on the Bosch IoT cloud.

This means that the the ongoing functional enhancement of the platform and the development of new IoT solutions, will ultimately lead to a stronger competitive advantage.

According to the two organisations, manufacturing, logistics and retail are three key sectors which will particularly benefit from future IoT solutions.

“Smart IoT solutions give the necessary information edge and proactively help prevent inefficiencies in value chains.