Internet of Things is one of the greatest economic drivers of the 21st Century. Currently there are over 12 billion devices connected to the internet – more than the human population – and more than 40% of these devices are non-smartphone technologies. The global market is expected to increase past $1 trillion in the coming years as the rate of increase of IoT devices is equal to over 100 new devices per second. As many as two-thirds of all businesses worldwide will incorporate at least one IoT product. Approximately 1 in 5 people will purchase an IoT device of which over 10% will be smart clothing and 20% will be vehicles.
Investing in the Internet
IoT devices are being used in every sector but healthcare, retail, security, and education are driving the push to increase the capacity of IoT. Yet less than 0.1% of all objects that can be connected to the internet have that capability. The appetite for innovation is strong and the potential for significant gains as a result of manufacturing IoT devices cannot be underestimated.
Having a local collaborator with decades of experience can reduce the risk for troubles along the manufacturing path. Modifications can be done quickly in the life cycle as time to market is a key differentiator. A strong local partner can also provide customers with assurances that their hardware platforms are built with attention to detail and in a timely manner, allowing them to focus on other aspects of their business.
From Sketch to SKU
The Invotek Group of Companies has been assisting the development and release of Internet of Things for 20 years and has evolved to meet the requirements of today’s market. Our process provides you with the assistance you need to bring your idea to reality. Our expertise will ensure the process is fast, smooth, and more importantly, done right.
A Canadian company acquired the rights to supply 15,000 smart water meters per month. This undertaking would have been …