Cross-Industry Applications for IoT Sensors Present Unrivaled Market Opportunity
IoT, and the sensors that work hand-in-hand with them, are one of the chief drivers of digital evolution — the mass movement underway to replace legacy systems with the latest digital technologies. IoT sensors include more than a dozen types that can be tailored to almost any use case, positioning them to play an increasingly prominent role in every imaginable industry. Sensors types include those geared to detecting, monitoring, and managing:
- Volume and level
- Water quality
Nearly Unrivalled Market Opportunity
Global IoT sensors market size is projected to reach USD 30490 million by 2028, from USD 9625.1 million in 2021, at a CAGR of 17.6% during 2022-2028. From these statistics, it’s easy to see that IoT presents an unrivaled market opportunity. And for this reason, product developers with cross-industry experience in delivering successful IoT innovations are increasingly in high demand.
At Pivot UK, we are a global one-source leader with a diverse suite of digital and cellular IoT sensor technologies, including LTE, Cat M, NB-IoT, and 5G. With nearly a half-century of experience across fourteen industries and 320,000 square feet of tri-continental manufacturing capability, we are the premier partner for helping companies deliver competitive, cost-effective, and scalable IoT sensor innovations to market.
The Far-Reaching Potential and Promise of IoT Sensors
Like all technological advancements — the advent of radio and telecommunications, for example — IoT sensors promise to be ubiquitous and far-reaching, extending well beyond any particular industry or sector. This technology is driving more than a quantum leap in automation. It is also changing how companies operate and do business by allowing them to collect, analyse, and harness vast volumes of data. This data provides actionable insights for helping them to fuel efficiencies, optimise operations, improve processes, penetrate their target market, drive sales, and better serve customers.
Cross-Industry IoT Sensor Applications
IoT sensors can be fitted to construction devices like cranes in mere seconds, instantly rendering data live and granting unprecedented site visibility from nearly anywhere. Another example is the HVAC sensor control network our teams at Pivot created that measures airflow temperature in large buildings and automatically adjusts them to preset parameters.
Consumer Health and Fitness
The Fitbit — one of the first mass-produced IoT-sensor fitness wearables — has been followed by a new generation of health and fitness innovations that can deliver personalised health insights, provide customised training regimens, run sleep-analysis trend reports, and more.
Pivot’s expertise in biometric sensors is behind multiple IoT innovations for the consumer health and fitness markets. The Zibrio SmartScale enables users to test their balance and helps predict the risk of falling in elderly or other balance-challenged populations. And our pulse-monitoring hardware for high-end fitness equipment communicates with motor controllers, operates braking systems, controls elevation, measures speed and heart rate, tracks distance, calculates calories, maintains user data, and provides system-critical safety functions.
Many energy sector IoT projects have been focused on managing demand. But the whole value chain — generation, transmission distribution, and consumption — is increasingly being benefitted by sensor technologies. A2E’s creation of a down-hole monitoring tool for the oil and gas industry is a prominent example. The device integrates temperature, pressure, compression, magnetic flux measurements, a 3-axis accelerometer, data logging, and a wired communication link. Operating at temperatures up to 260°C, it has ultrasonic and electromagnetic sensors to accurately measure the thickness of metal structures.
IoT sensors play a central part in the growing rise of smart factories, including the practise of digital twinning — the creation of virtual models (“mirrors” or “twins”) of manufacturing equipment that provide the basis for flexible production runs, scalable lot sizes, and cost-effective distribution. At Pivot, our investment in digitally twinned, high-speed SMT lines is just one of the things that sets us apart from our competitors.
Supply Chain Management
Severe supply chain disruption has highlighted the critical role of IoT sensor technology in resolving chokepoints, defending against shortages, and reducing other costly risks.
Transportation and Logistics
Competitive developments in fleet and engine management are increasingly IoT-sensor-led. These devices lend themselves to use cases such as automated engine-idle optimisation, where sensors are installed to reduce fuel consumption by permitting an industrial vehicle to idle only when necessary. Pivot designed this system and equipped it with cellular modems to allow for fleet management, data collection, and firmware updates.
Changes catalysed by the global pandemic have skyrocketed market demand and accelerated the adoption of IoT-sensor medtech. The EE Times estimates 5G will have a large part in the future of telehealth. With its extensive medtech experience, ISO and ISE certifications, and FDA-registered facilities, Pivot is the go-to partner for developing them. These innovations include a paediatric otoscope, a prescription-adherence device, and a mobile phone ophthalmoscope honoured with a European Product Design Award for Best Design for Humanity.
Preparing to Capitalise on the Market for IoT Sensor Innovations?
If you’re gearing up to bring a winning IoT sensor innovation to market, Pivot is the partner you’ve been looking for. Our one-source model delivers a smooth, seamless approach to NPD, and our highly collaborative way of doing business makes us a trusted partner to companies worldwide. Our teams are experts in creating sophisticated use cases and optimising product design for scalable manufacture with industry-leading DFM talent. To learn more about how we support your success, contact us today.