Engineering and electronics company Bosch has announced that it is building its own cloud computing network. The German company revealed that the network it is planning to build can connect various devices (such as cars and home appliances) to the Internet.

Bosch is just one of many traditional industrial companies that is looking to expand its business into the growing Internet of Things market. Tech analysts believe that companies like Bosch can manufacture equipment that are Internet-ready and then amass large quantity of data generated by these machines.

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Bosch claims that its experience in engineering gives it an advantage in manufacturing Internet of Things products that focus more on smart homes, intelligent industry and connected mobility.

By building its own cloud computing platform, Bosch is joining the ranks of some of the top brands in the tech industry like Google, Amazon, IBM, Salesforce and Microsoft. Bosch said that its cloud computing center will be based in Germany, and the company hopes this will appeal to customers who may have doubts about the data security of organizations based in the United States.

In a statement, Bosch chief executive officer Volkmar Denner said, "There are product companies like Bosch trying to add software and services and there are IT companies trying to get into the physical space. The race is completely open."

Bosch plans to migrate 50 of its own in-house applications into the cloud platform before the end of the year. The company based in Stuttgart said that it plans to open up its services to other company starting 2017. As part of its globalization effort, Bosch plans to build data centers in several locations across the globe, but the company is yet to confirm the timeline.

Bosch claims that more than five million devices are currently connected to its aptly named "IoT Suite." The company expects that this number would rise once it starts to roll out the expansion of its services.

TagsBosch, Bosch news, Internet of Things, IoT, Bosch IoT, Bosch Internet of Things, Internet of Things products, IoT products