Accelerating IoT industry leads to revenue record
November 26, 2019
The Internet of Things (IoT) is accelerating rapidly across the globe. More and more companies are starting to unlock the potential of the IoT to add new revenue streams and future-proof their business. The rising demand for IoT products is reflected by a record-breaking increase in Develco Products' revenue.
Our newly presented financial statement reveals that the demand for our product platform has increased remarkably the past year. With an 80% increase in revenue, we have hit a record. The numbers indicate that the IoT market is moving in the right direction.
IoT market spreading across industries
The accumulated number of deployed Develco Products devices has reached 2.5 million, and among our main markets are Europe and North America. The interest in our product platform spreads across industries. Currently, we experience high demand from businesses within the fields of healthcare, home security, and energy management. In general, the IoT market is, however, at an early stage.
Further development and growth in the future
To keep our position as a leading player in the IoT industry, we have invested heavily in the development of our product platform and organization during the past year.
The investments will continue: “Our growth proves that large scale deployment of IoT solutions is no longer just a vision – it is the reality. As our product platform has reached a high level of maturity, it is possible for our customers to scale up their solutions. Our ambition is to enable our customers to bring new IoT solutions to the end-users and to develop the market further. We will continue to invest heavily in our product platform and our organization because the growth of the IoT market will continue in years to come,” says Karsten Ries, CEO.