According to Gartner, Internet of Things vendors will top $309 billion in direct revenue by 2020, with most of that money stemming from services.
While there are significant opportunities for the Internet of Things in the enterprise, challenges arise when translating data to legacy infrastructure technologies now being connected to the Internet. For the first time, vendors that supply equipment to the enterprise, including but not limited to smoke detectors, ATMs, trucks, and health care machines, are taking these devices online.
According to MachineShop, by service-enabling data sources, including devices and systems, organizations can create connected business solutions from any combination of the billions of things, applications and services in the global ecosystem of the Internet of Things.
This Internet of Services™ approach opens up a new, simpler and more extensible way in which connected devices, systems, applications and their data can be exposed and managed to create and monetize new business opportunities.
MachineShop is focused on the unique challenge of helping enterprises more simply engage with the connected world – particularly around systems and operational technology. MachineShop Services Exchange offers developers and organizations a simple way to interact with the hundreds and thousands of discrete APIs and services that allow them to build, integrate and manage the Internet of Services, including tools, reports, analytics and controls. MachineShop is a member of the Industrial Internet Consortium.
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