Industrial IoT: How IoT Has Evolved and Moved into the IoT 2.0 Era
Adam Livesay, Co-Founder of Elevat-IoT, remembers back a decade or more to hearing lots of people speculating about how the Internet of Things would change business and seeing competitors allocate resources to marketing rather than infrastructure or development.
Now, in the midst of what he calls the era of IoT 2.0, the companies that spent time on products are seeing big results and serving their customers in a superior way.
For several years, Livesay was explaining to customers how the company’s IoT systems would actually work and the technology that powered them. Now, the customers have faith that companies like Elevat will be able to pull off the futuristic-sounding projects they’re laying out – they simply want to get results.
“The customers don’t even want to talk IoT. What they’re looking to do is, ‘Hey, I need to know the productivity of my fleet of machines,’ or ‘I want to get better at the maintenance of my machines,’ or ‘I have an initiative to sell more parts and services,’” Livesay said. “We talk to them about what their business objectives are, and then the general consensus is the technology companies have figured out how to do this.
“We’re not worried about the technology any more. We were 10 years ago. We’re not any more. We know it’s going to get powered by however you guys are going to do it, but the end result is we want to produce this economic impact for our company.”
Elevat is doing that by improving uptime and increasing productivity, helping companies track devices, make sure vehicles are arriving on schedule and staying well-maintained, and even making sure mixtures are being assembled properly in places like the cement industry.
So what will IoT 3.0 bring?
“The next wave is going to be threaded in to how their entire business operations run. It’s going to be this next major wave. It will just be part of the DNA,” Livesay said. “I don’t even know if it will be called IoT. I think we’ll be fully into a digital transformation at that point, and we’ll just be a feature in that larger ecosystem.”
For the latest news, videos, and podcasts in the IoT Industry, be sure to subscribe to our industry publication.
Follow us on social media for the latest updates in B2B!
Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale
Latest
Mastering AV Sales Strategies: A Diverse Market Requires Understanding Individual Needs
Mastering AV sales strategies in a global professional audio-visual (Pro AV) market, poised to reach $79.2 billion by 2028, requires much attention to detail. The surge in demand from corporate, government, and institutional sectors, driven by the need for enhanced productivity and efficient working environments, gives AV sales pros a lot of opportunity. In […]
Cybersecurity in Healthcare: Addressing the Growing Threat
To keep up with the growing threats, cybersecurity in healthcare is a high-level priority. The recent ransomware attack on Ardent Health underscores a stark reality for the healthcare industry: cyber threats are a significant and ongoing challenge. Mike Saylor, the CEO of Blackswan Cybersecurity, LLC, sheds light on the complexities of cybersecurity in healthcare. […]
Effective Debt Management Holds the Keys to Small Business Cash Flow and Growth
Effective debt management through a robust accounts receivable system is essential for small business cash flow and growth, necessitating automated payment schedules and strategic policy adjustments. Collaborating with a collection agency as a strategic partner can enhance revenue recovery while preserving positive customer relationships. How critical is effective debt management for the financial health […]