Companies may still lack the experience to make it in IoT industry: consultancy

Companies may still lack the experience to make it in IoT industry: consultancy
The IoT industry is starting to boom and many companies are making the foray into the field. Despite IoT’s growth potential and future promises, today’s professionals mostly lack the knowledge and experience required to succeed in the industry, says Avi Rosenthal, co-founder of CE/IoT Partners.
 
In 2018 companies were bringing new ideas to the market in two methods. They either came up with new innovations or further developed existing products to take advantage of the IoT. “The market is exploding right now,” Rosenthal said, adding that “As the market grows, there are huge opportunities with connected and intelligent products.”
 
AI, machine learning, voice technology and predictability are all concepts “that have been discussed for decades but are now mainstream,” Rosenthal noted, adding that “Aging in place, personal security, wellness and cybersecurity are all important areas of the market that will have great potential in the coming months.”
 
In regards to the future direction that the smart home industry is moving, complete automation is the trend. Technologies are enabling “home control” and may progress in such way to allow for “true home automation” in the near future, according to Rosenthal. “The idea that your living environment understands how you live and can make adjustments before you request them.”
 
 
Avi Rosenthal,
Co-founder,
CE/IoT Partners
Experience is critical if companies want to really make it in the industry. IoT, after all, is still a relatively new concept and not many companies have the know-how. Marketing is a main challenge. “The real challenge is not understanding the channel and how to effectively get your product to market,” Rosenthal said.
 
 A company that wants to be successful in IoT should consider a number of issues as part of its business plan, including who is the installer? how does it get supported? who owns the data? Rosenthal explained.
 
CE/IoT Partners, which was founded by industry veterans in consumer electronics and IoT, aims to address the experience gap among professionals in the market. “Too often companies approach the market and make the same mistakes that others have made. Our experience will help companies achieve their goals without making the mistakes that others have made in the past,” Rosenthal said.

Open mind is important

 
When asked what types of companies have a better chance to make it in the IoT/smart home industry, Rosenthal said the number one quality needed is “an open mind.” Open to new ideas, open to new concepts and open to other people. “Too many times great ideas and great companies do not reach their full potential because they refuse to listen to the market around them,” Rosenthal said.
 
In a press release issued last month, CE/IoT Partners says its three co-founders – Duane Paulson, Dan Quigley, David Kaplan and Avi Rosenthal – along with three company associates, all have extensive experience in the smart home and security industries, having served on the board, received industry awards, managed the public relations, etc. “Experience is our main advantage,” Rosenthal said.
 
CE/IoT Partners intends to serve all types of companies, from start-ups to well established organizations. “We feel we can bring a level of expertise that will enable them to succeed in the CE and IoT marketplace.”
 
The company will provide consultation on nearly all facets of running an IoT/smart home business, including product development, marketing, business development, engineering, manufacturing, intellectual property, business practice and mergers and acquisitions.


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