Our Expertise

IoT Strategy & Execution

By 2020, 10+ billion new devices and connections will be added to the Internet of Things which will increase the amount of IoT devices and connections to over 26.3 billion. Analysts estimate that this massive uptick will result in more than $6 trillion being spent on IoT products, solutions and integration services over the next five years.

No matter if your company is already selling IoT solutions, you do not know what IoT is, or thinking how to break into the industry, there is an opportunity to increase your company’s revenue because IoT will touch every single industry in the next 5 years.

x

To better understand this opportunity, let’s review the three core components of IoT that are all rapidly growing in functionality and vendor options.

Sensors & Products

Any device that records data (GPS location, temperature, motion, weight, etc.)

Connectivity

A connection that can transmit a sensor’s data via cellular, wireline, satellite, WiFi, LoRa, electrical line or any other type of connectivity

Platforms & People

Sensors send data via the connectivity medium to a management platform or person to analyze and act on the data

New devices and sensors are being introduced faster than competitors can copy them, new connectivity protocols are being introduced offering a wide variety of low power wide-area connectivity options and the amount of different and essential IoT platforms is endless.

As these new technologies and services come to market, every industry has the opportunity to use these offerings to reduce cost, offer new services and expand market share. The competition within these IoT devices, connectivity and platform markets has been very aggressive over the past five years so there is an abundance of offerings to choose from based on requirements and budget.

Are you selling a product or service that could be adapted for the IoT market?

Every product could have a sensor and connection added to it to become an IoT product, but not all IoT adaptations are going to add value to the product so the consumer or enterprise will pay the IoT premium.

Doorbells used to not include cameras with connectivity, wristbands didn’t record steps and thermostats didn’t optimize a home’s temperature. Our team works with companies to identify which products they currently offer could add value with IoT and which products could be developed or white-labeled for their customer base.

There are a lot of IoT tools to choose from. How does my company increase its revenue with IoT?

The 151 team has decades of practical experience in the IoT/M2M industry and works closely with our clients’ sales, marketing, business development and operations teams to answer this pressing question and help establish them as leaders within the marketplace. Depending on the specific IoT industry segment and market, the path towards generating profitable IoT revenue may take different routes and our team of experts and leaders dive deep into a client’s customer base and offerings to identify the low hanging fruit to initially attack, determine the best path to revenue growth and execute the long-term IoT go-to-market strategy.

Are your customers future purchasers of IoT products or services?

Consumers and enterprises that were not purchasing any IoT products or services ten years ago are now dependent on them and looking for additional IoT solutions. Your customers may need guidance on how IoT can benefit their organization and how to approach the IoT market. 151 can support your team in becoming IoT experts and provide your customers with the necessary tools to succeed in this quickly evolving marketplace.

Elder care is a huge IoT market opportunity that companies could offer a variety of devices and services to monitor the consumption of medicine, movement within the house, needed house maintenance, direct video communications with medical professionals and everything else that a son or daughter would want to know to make sure that their parent was healthy and safe.

Wireless carriers, retailers, security companies and healthcare agencies can all market the same types of products and services to this market. The 151 team helps companies identify new market opportunities like this and our team leverages its wealth of strategy and execution experience plus its deep industry contacts to drive new revenue generating initiatives.

Along with our worldwide network of industry relationships, our team has decades of deep IoT subject matter expertise to assess product viability, attack the hurdles and exploit the opportunities. Contact us to discuss how your company can benefit from the $6 trillion being spent on IoT solutions over the next 5 years.