GE and Quirky Form Connected Device Strategic Partnership
Last month GE expanded its partnership with Quirky, the creator of WINK, a connected device communication platform that makes it easy for us to access a range of connected devices anytime from our mobile devices. GE participated in Quirky’s $79M series D financing by investing an additional $30 million and holding a minority equity stake in Quirky. The partnership between both businesses started back in April and since then they have developed a number of connected home solutions which are now available in leading retail stores such as The Home Depot, Amazon and Best Buy.
With a market value over US$9 billion, the Asia Pacific (APAC) region is ripe for smart home solutions and services. This is according to a new study by MarketsandMarkets; which estimated the region’s smart home market to grow at a Compund Annual Growth Rate (CAGR) of 16.73 per cent over the next seven years. The global market is estimated worth over US$51 billion and a CAGR of 17.74 per cent.