Using IoT to Create New Revenue Streams

The Internet of Things (IoT) is no longer a concept of the future—it’s here, thriving, and reshaping industries worldwide.

In our recent webinar, “Using IoT to Create New Revenue Streams,” Friendly Technologies’ IoT experts Sean van der Walt and Tzvi Skapinker shared valuable insights into the transformative power of IoT for service providers. Here’s what we learned about turning connectivity into profitability.

IoT’s Maturing Landscape

For over a decade, IoT has been growing steadily, but the past few years have seen exponential adoption. From wearables like Fitbit to smart home hubs such as Google Nest, IoT now touches every aspect of our daily lives. Beyond consumer tech, industries like smart cities, agriculture, and utilities are embracing IoT to increase efficiency and generate actionable insights.

Service providers stand at the forefront of this revolution, connecting billions of devices and managing the massive influx of data. As Sean noted, “It’s not just about connecting devices; it’s about monetizing the data and creating new business models.”

Unlocking New Revenue Streams

IoT opens diverse opportunities for service providers to expand beyond traditional services. For instance:

• Managed IoT Services: Providers can offer end-to-end solutions encompassing device deployment, connectivity, and ongoing support.
• Connected Energy Management: By monitoring and optimizing energy consumption, providers help businesses cut costs while offering premium services.
• Vertical-Specific Applications: From vending machine inventory management to advanced metering infrastructure, IoT is enabling smarter operations across industries.

Tzvi highlighted how industries such as healthcare, agriculture, and manufacturing are prime targets, noting, “These sectors are ripe for IoT adoption, with opportunities to drive efficiencies and enhance customer experiences.”

Real-World Use Cases

Our webinar also explored successful implementations, including:

• Smart Utilities: IoT-enabled water meters provide real-time usage data, allowing utilities to improve billing accuracy and detect leaks.
• Asset Tracking: Solutions like wildlife tracking and industrial equipment monitoring showcase IoT’s potential for sustainability and operational excellence.

Conclusion

The webinar underscored that IoT is more than technology—it’s a business enabler. Service providers equipped with platforms like Friendly’s Unified Device Management and One-IoT™ can manage devices seamlessly and scale with ease. By leveraging IoT, you can unlock innovative revenue streams, enhance customer satisfaction, and position your organization as a leader in the connected future.

Watch the full webinar recording here to dive deeper into these strategies and learn how Friendly Technologies can help you harness the full potential of IoT!

Let’s connect devices, data, and innovation—together!