Industrial internet of things – sector value explored & quantified, Bit Stew profile
May 29, 2015
Shane Dingman, Technology editor for The Globe and Mail, explores what “the array of signals technology sometimes called the Internet of Things can do for businesses. Simply defined, IoT is about connecting objects, from trucks to refrigerators and hydro meters, to the Internet. Data gleaned from the sensors and systems applied to these objects can then be used to monitor, control or redesign business processes.
The projections are huge: Networking equipment titan Cisco Systems Inc. believes IoT represents a $19-trillion (U.S.) global market and predicts that 50 billion devices will be connected to the Internet by 2020.”
The article goes on to profile Bit Stew’s technology which lies is at the intersection of the Internet of Things, big data and industrial control systems and is helping large industrial companies refine their operations. Yaletown has participated in two rounds of investment of rapidly-growing Bit Stew as its technology fits well with Yaletown’s sector focus in sustainability innovation and intelligent enterprise.
Author: The Globe and Mail
