How IoT is Shaking Up the World of Start-ups

There is much hype surrounding the IoT recently, and it’s no wonder with an estimated 20 billion devices connected to the Internet infrastructure by 2020.  

In line with this growth, 2018 has seen the creation of an increasing number of startups that are harnessing the power of the various IoT applications.

One way startups have been embracing the IoT is by optimizing the consumer experience in the home.  Den for example, is a start-up that was established in 2014 in order to control home appliances such as light switches remotely with a smart-phone app to control the devices.  OpenTRV is another start-up that has taken it a step further, developing a device that saves energy by not heating rooms that you are not in.

The use of IoT applications has greater implications beyond the consumer.  In the UK alone for example, there are many companies that are developing data and system monitoring control tools for the agricultural industry.  Pycno for example, was founded in 2014 and has developed sensors to enable farmers to gather data on rainfall, wind speed, cloud cover and so on, giving them the opportunity to make more informed decisions.

IoT technology is also revolutionizing the B2B market, as can be illustrated by Concirrus, whose cloud  based platform allows customers to gather and analyze IoT data in order to improve their business processes.