"The majority of our clients are in the manufacturing sector and are just beginning to modernize their technology solutions. IoT is absolutely top-of-mind. IoT has the potential to evolve into entirely new operating divisions and revenue streams for our clients.
"Some specific opportunities we’re exploring with our clients include adding IoT sensors to industrial filters to create a 'smart' component in legacy machinery; these sensors can report on machine performance and maintenance requirements. This can add incredible value to a client’s filtration product line for potentially only a couple of extra dollars per unit.
"An even bigger opportunity we see, though, is in the emerging software sector. IoT can enable legacy manufacturing to become data brokers for their customers—so not only the integration of IoT sensors, but the collection, management, and actioning of the data those sensors collect. This has the potential to create entirely new revenue streams and deeper relationships in the supply chain."