GE or General Electric will spend $1.4 billion into its fast-growing software business to also dominate the market for digital technology.
The company’s digital business showground based in California said, that the investment will help speedy growth its revenue to reach $15 billion in 2020, more than double the $6 billion-plus expected to bring this year.
GE Digital Chief Executive Bill Ruh said in an interview, “We’re in a horse race,” as competitors in Silicon Valley and other industrial manufacturers try to develop similar software that can fine-tune the operation of heavy machinery.
In 2011, GE began its thrust into software and digital industry. They drive to refocus its industrial roots of power generation, jet engines and medical equipments.
And so GE itself boast to reap $1 billion in its operations as more factory and design processes are fed into digital systems that improve collaboration and speed up production cycles.
Chief Executive Jeff Immelt’s strategy covets GE as promising “digital industrial company”, and its software efforts are helping to streamline its own manufacturing and design processes.
GE plans to sell the products to its industrial customers—like airlines, hospitals, power utilities, and also aviation businesses.