Mexico’s IoT (internet of things) market has huge future prospects, but only if decision-makers can improve regulation and promote the industry.

The two companies will bring together schools, businesses, and investors to lay the groundwork for creating hubs of qualified workers in the technology.

The advantages of LTE-M over traditional IoT connectivity options include longer battery life—up to 10 years—as well as better coverage for IoT underground and deep inside buildings.

German industrial conglomerate Siemens has built a digital lab in the city of Queretaro, saying it is just one in a long line of investments planned to prepare Mexico for the next phase of industrial revolution.

As part of the partnership agreement, Microsoft will give access to Azure, its popular cloud computing service for building, testing, deploying, and managing applications and services through a global network of data centers.

Entrepreneurs can use the lab to create prototypes they want to produce on a large scale, or to test their own assets such as wireless sensor networks and digital systems.

Mexico’s Internet of Things (IoT) market reached US$3.3 billion in 2016, totaling a 0.41% participation in the global market, which was valued at US$812 billion.

Students from a handful of universities around the country have developed a new innovation that could make Mexico’s water systems much safer.

The German firm has contributed greatly to modernize Mexico’s energy infrastructure through smart grid and internet of things (IoT)-enabling technologies to ensure safe, reliable electricity for the country’s growing economy.

TrackX stated that it would equip All Pretium with the tools and technologies necessary to help its customers achieve their IoT strategies.