Intel has set up a new business unit for the Internet of Things (IoT), which links up a host of electronic devices on a private network.
The US chipmaker said it expects IoT to create great demand for new electronics and software.
Intel Internet of Things Solutions Group general manager Doug Davis told Reuters that the new unit will be headed by CEO Brian Krzanich.
"Krzanich is saying, ‘I want a higher level of focus on this to help us grow it and put the level of attention on it that it deserves,’" he said.
The new unit also joins together an existing Intel business that focuses on chips for commercial and industrial devices with Intel’s Wind River subsidiary.
"We’re pulling together a couple of pieces that are already doing well and we want to accelerate those efforts," Davis added.
"This creates a primary focus around ‘Internet of Things’."
Last month, the chipmaker rolled out the Atom processor E3800 product family and new features for its Quark SoC X1000 to accelerate the implementation of the Internet of Things.
The latest ARM-sponsored research suggests that about 96% of global organisations are anticipated to use IoT devices in some respect by 2016.
According to a study by Cisco about $14.4 trillion could be unlocked in economic value for companies worldwide in the ‘Internet of Everything’.
Cisco said nearly 27% of this value would come from manufacturing, 11% from retail, 9% from information and 22% in education, health and finance.
