Microsoft to invest $5 bn in IoT over next 4 years globally

Tech giant Microsoft on Wednesday said it will invest $5 billion over the next four years on Internet of Things (IoT) globally.

Microsoft, in a statement, said this increased investment will support continued research and innovation in IoT.

"This (investment) will support Microsoft's technology platform, as well as supporting programs, thereby enabling continued research and development in key areas, including securing IoT, creating development tools and intelligent services for IoT and the edge, and investments to grow our partner ecosystem," it added.

IoT refers to a network of inter-connected sensors and devices like smartphones, connected vehicles and appliances that harness relevant information from massive amounts of data collected.

Microsoft's IoT offerings currently include operating systems for devices, cloud services to control and secure them, advanced analytics to gain insights, and business applications to enable intelligent action.

While the company did not disclose country-specific details, the statement said the investment will ensure that in India, Microsoft continues to meet all its customers' and partners' needs as they develop new and increasingly sophisticated IoT solutions.

Microsoft's cloud platform, Azure is being used in IoT deployment across the country. Microsoft Azure IoT is powering India's first smart street lighting project in Jaipur, where the city's municipal corporation operates and maintains over 100,000 public street lights within the city.