General Electric (GE) has announced its plans to enter the cloud service market with its own cloud solution, called Predix Cloud, according to a press release issued by GE.
Predix Cloud will be the world's first and only cloud solution that GE designed for industrial data and analytics.
Reuters adds that Predix Cloud is GE's latest step in its effort to gain a share of the machine generated data business.
Jeffrey Immelt, CEO of GE, has banked on the continued growth of machines connecting to the internet in their development of analytics and software for customers of their industrial products.
"Cloud computing has enabled incredible innovation across the consumer world," Immelt said in the press release. "With Predix Cloud, GE is providing a new level of service and results across the industrial world."
GE also said in the press release that analysts are expecting more than 50 billion assets to be connected to the Internet by 2020.
GE is hoping to take advantage of that with Prefix Cloud.
The Predix Cloud is designed to "capture and analyze the unique volume, velocity and variety of machine data within a highly secure, industrial-strength cloud environment," according to the press release.
It will provide operators with the ability to use machine data faster and more efficiently.
The Predix Cloud will also enable developers to "rapidly create, deploy and manage applications and services for industry," according to the press release.
Reuters adds that Predix Cloud is built using an operating system, called Predix, that it has previously developed for software use by its customers.
GE also said in the press release that their businesses will start migrating their software and analytics to the Predix Cloud by the fourth-quarter of 2015.
They also added that the service will be commercially available to customers and other industrial businesses for managing data and applications on Predix Cloud in 2016.
