In the last decade, investments in digital infrastructure in data intensive industries have grown significantly and are only expected to accelerate in the foreseeable future. Within the utilities sector specifically, the increased penetration of renewable energy, electrification and energy efficiency measures enabled by developments in cloud and IoT technology are supporting an accelerated pace of investments in digitalisation.
With the public cloud services market growing at double-digit rates and the size of broader IoT market increasing three-fold over the next decade, Embriq is well positioned to capture these macro-tailwinds. The next phase of growth is an extremely exciting time for me and the entire management team.
We have a strong foundation: today our services are of critical need by some of the largest and most forward-thinking data-driven Nordic companies, within Energy, FMCG, Logistics and a number of other data-intensive sectors. However, it is important for us to keep innovating, developing new products and services β and establishing new partnerships to keep our customers on the competitive edge. In Magnesium, we have found a partner with a deep understanding of our end-markets and our core technologies, with an established network in Europe, and the financial backing to support our growth trajectory.
The entire team is committed to helping customers solve highly complex challenges by adopting technology and digitalisation. We look forward to working with Thomas and the rest of the Embriq team through this next phase of growth.
Read the press release from Rejlers here. About Embriq Embriq, headquartered in Oslo, Norway with operations across the Nordics, is recognised as a leading industrial IoT technology vendor and provider of mission-critical software and IT services. With over highly capable and dedicated employees, the company serves more than customers in the Nordics providing critical services to society within sectors like Energy, FMCG, Logistics and Manufacturing.
