3 Hong Kong and Alibaba Group have announced a strategic cooperation covering cloud computing, intelligent big data and IoT as well as infrastructure and information security to develop an ecosystem that underpins Hong Kong’s digital internet economy.
The global IoT market is projected to be worth $1.1 trillion in revenue by 2025, as market value shifts from connectivity to platforms, applications and services. 3 Hong Kong says it believes IoT is the economic driver of the future, and to that end aims to develop a new economy ecosystem.
3 HK will introduce global applications from Alibaba Cloud’s IoT platform to meet local demand. These will address smart buildings, logistics and traffic and others to accelerate Hong Kong’s development as a smart city.
3 HK says Alibaba’s ecosystem scale and technology, along with its Link IoT platform and artificial intelligence technology, will enable the two partners to introduce more applications while creating a new ecosystem for a variety of industries.
3 HK will make use of Alibaba’s worldwide ecosystem to build IoT platforms for homes, cities and the manufacturing industry, as well as support developers to build their own IoT applications.
Alibaba Cloud will provide 3 Hong Kong with branding, as well as an operational platform and technical support. The two parties will also join forces to explore opportunities in information security, while developing services for disaster recovery, network protection, anti-phishing efforts and combating cyber fraud.