Bosch board member Stefan Hartung says the German giant's cutting-edge technology will allow it to exploit the growing smart cities market.
Speaking in a keynote address at 2018's Consumer Electronics Show in Las Vegas this week, Hartung spoke of the firm's eagerness to position itself in the market as the core of its long-term strategy.
Key progress points made by Bosch in recent years include the building of its own IoT cloud and AI research centres, which has led to smart city technologies such as climate monitoring and parking assistance. It also hopes to further utilise its expertise in sensor technology and software in the future.
"Smart cities begin and end with connectivity," said Hartung. "Our solutions not only encompass connected mobility, energy, building, and industrial technology, they enable connectivity at the most fundamental level.
"Nearly 50 years ago, we introduced semiconductor technology for automotive applications. Today we’re the leading global producer of micromechanical sensors, shipping more than four million a day."
"One reason the smart city initiative is taking off now is because we have the right technology."
Last week, Bosch revealed that it had taken a 5% stake in HERE Technologies, the successful digital mapping and location services company.