New Delhi: L&T Technology Services today said it has joined hands with European telecom operator Tele2 to jointly develop solutions around machine-to-machine (M2M) and Internet of Things (IoT).
The alliance will help LTTS and Tele2 customers implement solutions that will reduce their time-to-market and holds a great potential for the transportation market, the companies said in a statement.
The M2M and IoT market under transport and mass transit sector is expected to grow from USD 10.4 billion in 2014 to USD 29.4 billion by 2017 and further to USD 76.1 billion by 2020.
This partnership will initially target the transportation and commercial, mass transit vertical (including auto, aero, rail, shipping and off-highway and specialised vehicles) and all associated ancillary and similar industries, it said.
"We are very excited to collaborate with Tele2 on providing IoT/M2M solution to the transportation and mass transit industry that benefit customers," LTTS Chief Executive Keshab Panda said.