How do we monetize the Internet of Things (IOT)?
That is the billion-dollar question, potentially even the trillion-dollar question. McKinsey and Company says that by 2025, the Internet of Things could have an economic impact potential of $11.1 trillion. The largest segment by far, is operational optimization applications at $4.3 trillion, which focuses on remote monitoring and tracking of equipment, as well as automatically adjusting machinery based on IOT data.
The hype surrounding IOT and sensors continues to grow and many companies are still looking for the “killer app” that will automatically collect high value, actionable data and deliver profound insights for their business.
These industrial companies have turned to their primary software service providers in hopes of finding that solution. As a result, several large and small companies have launched IOT software platforms but without mobile compatible, high quality sensor data, their value proposition is limited.
Actvcontent mobile compatible location sensors feed high quality data downstream to IOT software providers and industrial clients enabling robust IOT applications.
The future of Industrial IOT depends on our ability to integrate and analyze high quality data from customizable sensors.