The emergence of artificial intelligence (AI) and machine learning (ML) has sparked a transformative era for supply chain management. According to McKinsey, effective use of AI in inventory control can achieve up to a 20% reduction in inventory carrying costs and a 50% decrease in stockouts. By leveraging advanced algorithms and data analytics, AI/ML technologies enhance the accuracy of demand forecasting, enabling companies to anticipate market trends, fluctuations, and customer preferences with unprecedented precision. This predictive capability facilitates efficient inventory management, reducing excess stock, and minimizing stockouts, thus optimizing working capital. In addition, AI/ML-driven algorithms optimize logistics, streamlining transportation networks and reducing costs. Increasing complexity and constant restructuring require supply chain technologies to integrate easily and adjust quickly, meaning that composable architecture is particularly well-suited for modern supply chains.
The open-source format generally allows administrators and businesses to self-deploy and self-serve the platform if they prefer. However, platform vendors will usually offer customer support and extended services, such as implementation assistance. Organizations that don’t have a resident IoT expert will often want to utilize these services. IoT Device Management Platforms, sometimes referred to as “connected devices platforms”, allow businesses to remotely manage their fleets of Internet of Things (IoT) devices. IoT Analytics is the leading provider of market insights & competitive intelligence for the Internet of Things (IoT), M2M, and Industry 4.0.
It also offers 3D printing, contract manufacturing, IoT, PCB design, signal processing, and more. Feyen-Zylstra is a service company providing electrical services for various industries including government, food & beverage, automotive, and healthcare, among others. Its line of services includes fiber optic cabling, IoT, plant floor maintenance, HMI, and more.
In developing the 193-page report, the analyst team at IoT Analytics studied over 450 technology companies that offer IoT platform technology elements and reviewed 1,600 implemented enterprise IoT platform projects. Further input to the report included 20 completed surveys from leading IoT platform providers, 27 completed surveys from IoT platform end-users, 20+ industry interviews and numerous expert discussions at 10+ leading IoT conferences. One example, an automotive OEM in Germany pre-selected ten IoT platform vendors and invited them to perform 2-day Proof-of-Concepts in a real production setting. Following this, two of the best vendors were selected for 3-month PoCs and were further ranked on their capabilities. Finally, recommendations by the IoT team involved in the PoCs were made to the steering committee and the head of plant automation made the final decision. The research uncovers that the IoT Platform market is accelerating in 2018 as more and more businesses prioritize their transformation into IoT data-driven companies.
User & Technical
Oracle IoT Cloud is becoming our go to platform for our storage and network needs which has wide range of features. Hassle free implementation and it’s ability to integrate with other tools is good. It’s a scalable iot platform vendors platform and the price tag is economical compared with other clouds. Availability of training material is good, end user supports needs a special mention and they are super quick for issue resolution.
- Many large corporates across multiple verticals today are being disrupted by the convergence of wireless, big data, and the Internet of Things (IoT).
- Azure Orbital is a Ground Station As-a-Service that provides communication and control of satellites.
- By 2029, forecasters have predicted, the IoT industry will reach a global market size of more than $2.4 trillion with the shift from mere connectivity to IoT-powered applications, platforms and services.
- This has resulted in 90% of IoT Platforms generating less than $10M in revenue in 2017.
- It’s safe to say that no sector has been left touched by the IoT – cloud computing in particular is linked to IoT.
Earlier this year, AWS introduced AWS SiteWise Edge to a wider audience, which allows customers to keep their industrial data on-premises, e.g., for lower latency or security reasons. Microsoft recently presented new capabilities of its IoT solutions for retailers utilizing cameras and sensors to enable smart spaces. Additionally, the company showcased its own use of Azure Digital Twins for building management. Microsoft aims to standardize a shared data model for Digital Twins (e.g., in the building space) as part of its cloud services.
IoT Platform Companies Landscape 2021/2022: Market consolidation has started
So many choices means a lot of fragmentation around IoT apps and customer value. To win this landscape war, companies need to target both startups as well as the large corporates. The winning platforms will win both across many industry verticals. Paid platforms can range in pricing from $10/month for up to 20 things to hundreds of dollars a month for enterprise scaling. Some vendors, such as AWS, will segment pricing both by the volume of devices and by the kinds of actions being taken with or by each device on their platform. Microsoft Azure IoT Central allows users to connect IoT devices to the cloud and offers centralized management to configure and updated connected devices.
Pricing is still extremely varied, and is made more complicated by the prevalence of open-source products. These platforms are free to download and are monetized via paid consulting and support, although specific pricing for those services is generally not public. Ayla Networks headquartered in Milpitas offers what they describe as an agile IoT Platform that enables manufacturers to quickly and securely bring connected products to market, focusing on device management and virtualization. These reports offer more in-depth insights on the IoT platforms market and competitive landscape.
Fish Scales Are in This Unexpected Product
Software as a Service (SaaS) has had a profound impact on global technology implementation by revolutionizing how software is delivered, accessed, and utilized by businesses and individuals worldwide. For supply chain executives, SaaS extends reach and visibility by allowing every stage (e.g., raw materials, production, finishing, warehousing, and distribution) to share information, actions, and insights. To move forward, supply chain managers need more flexible, dynamic connections between trading partners to replace their current point-to-point, static connections that are unable to adapt to sudden, unexpected supply chain disruptions. What they need is a more modern, more responsive supply chain platform. This article discusses how today’s supply chain technology can help businesses build more resilience into their supply chains moving forward.
Like a LEGO™ set, composable architecture allows for complex systems to be built by combining smaller, modular components that can be easily assembled, interconnected, and reused. Administrators can add new hardware resources to the pool, and the composable infrastructure can automatically incorporate these resources into the available pool. The sportswear company created a single library of content that feeds all of its systems — wearables, mobile, kiosk, and beyond. Instead of rebuilding the New Balance commerce experience from the ground up for every system, the use of common composable architecture suitable for every situation was far more effective.
What can IoT device management platforms do?
As an actual user of HANYUN Platform, my strongest feeling is that HANYUN cares about user experience a lot, every time they make functional updates, their product managers interview with us on the good and bad aspects of the product. During years of using HANYUN Plat, I have to say it’s not a perfect product at the first time, but it is becoming better and better(especially their Digital twin library). Last time I told them the integration of security vendors could be more open, they said they are negotiating with security providers and change will be made in the following updates.
Uptake, an analytics platform which was founded in 2014, achieved the impressive funding round of $90M in Series B. Actility, a LPWA solution provider that runs the Thingpark platform which caters mostly to Lora deployments, received funding of $50M in April 2017. However, IoT Platform funding is insignificant compared to mature tech topics. Just consider that in 2016, ride sharing platform Uber received 14x more funding than all IoT platforms combined in the same year ($4.9B vs. $338M). Our IoT Platform Comparison shows that there are a total of 31 IoT Platform companies, which have been acquired and whose platform is still available today, operating under the original name.
Businesses use Alarm.com for automatic arming that activates when a property has been left vulnerable for a certain number of hours, as well as for energy and temperature monitoring. Cisco offers a suite of IoT products and solutions, including industrial sensors and connectivity management and automation. For example, these products can be used to increase manufacturing uptime, develop a smarter security grid and connect city infrastructure. Memfault operates a cloud-based platform that monitors and remotely de-bugs connected IoT smart devices.