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.

Get to know our company better and explore the product platform

Expand your IoT knowledge

Subscribe to Develco Products' newsletter and increase your share of the IoT market

Sign me up

When you visit, we use cookies to measure the traffic on the website. We use this information to improve our website. If you do not wish to accept cookies, you may set your browser to automatically reject cookies or to notify you whenever a website asks to store cookies. Use your browser's help function for more information.