How the Sensor Market is Championing the Internet of Things (IoT)

The Internet of Things (IoT) is the concept of creating a large network of devices that all interact with each other to ultimately change the way we live and work. By connecting our phones, cars, and other devices to this network and linking them together with shared data/services, we have the potential to revolutionize the way we do everyday tasks. This innovation is at the root of ideas like autonomous vehicles and smart cities that improve efficiency and simplify complicated systems. From an industrial standpoint, the IoT can be applied anywhere from the factory to agricultural fields and offers the opportunity to place all the steps in a process onto an automated course held together by the overarching Internet. Continue reading “How the Sensor Market is Championing the Internet of Things (IoT)”

Market Shifts & the Need for Backward Compatible Products

Technology markets shift.  The shift can be incremental, radical, or sometimes disruptive.

Take, for instance, gages used in process automation markets. Gages command about $3.5 billion in global instrument sales, the major portion, over $11 billion now held by transmitters.

Source: Markets & markets

The technological shift from a visual indication gage to the first transmitter has been incremental. It has taken over 50 years for transmitters to go from concept to commanding 70% market share. Continue reading “Market Shifts & the Need for Backward Compatible Products”