Siemens and GE Gear Up to Compete in the Internet of Things
The basic numbers make Siemens and GE look alike. With annual revenues of around $100 Billion USD each, they are the world’s two largest diversified industrial conglomerates. About 70% of their markets overlap with each other.
The two firms are also taking very different paths towards digitization. GE is completely reinventing itself, whereas Siemens is staying close to its roots. What works best will be closely watched by other companies in all sorts of industries. They want to know what happens when operating technology, as represented by GE and Siemens, properly meets information technology. GE tends to be organized in vertical, industry-specific silos, such as machine tools and medical equipment. Siemens typically comes in horizontal, widely used layers, such as computer operating systems. Read the full article here.
Contacts mentioned in the article:
- Ganesh Bell, Chief Digital Officer, GE Power
- Joe Kaeser, ECO, Siemens