GE has announced plans to enter the cloud services market with Predix Cloud. The “world’s first and only cloud solution” designed specifically for industrial data and analytics, this platform-as-a-service (PaaS) will capture and analyze the unique volume, velocity and variety of machine data within a highly secure, industrial-strength cloud environment.

Predix Cloud will drive the next phase of growth for the Industrial Internet. With $4 billion in software revenues in 2014 and projected software revenues of $6 billion in 2015, GE continues to increase its investment in software.

“Cloud computing has enabled incredible innovation across the consumer world. With Predix Cloud, GE is providing a new level of service and results across the industrial world,” said Jeffrey Immelt, CEO of GE.

Nabil Habayeb, GE's president and CEO for the MENA and Turkey, said: "The launch of GE's Predix Cloud further strengthens our Future of Work in MENAT roadmap to unlock the true growth potential of the region."

Predix Cloud will enable operators to use machine data faster and more efficiently, saving billions of dollars annually. By combining GE’s deep domain expertise in information technology (IT) and operational technology (OT), GE’s Predix Cloud will deliver advanced tools like asset connectivity, machine data support and industrial grade security and compliance.

The Industrial Internet is generating data twice as quickly as any other sector. Built for Predix, the cloud platform for the Industrial Internet, Predix Cloud is designed to provide a highly secure infrastructure for this next phase of growth, which will generate a new level of insight, asset performance management (APM) capabilities and innovation in the developer community.

GE businesses will begin migrating their software and analytics to the Predix Cloud in Q4 2015, and the service will be commercially available to customers and other industrial businesses for managing data and applications on Predix Cloud in 2016.