How to Capitalize on IoT’s Maturing Market 

Over the past decade industry, media, analysts and consumers have buzzed about the transformative potential of IoT and the potential for IoT to make a more connected, cohesive world. Within a few years this highly anticipated technology cooled into warm acceptance by a broad range of mainstream industries, including building and home monitoring, energy production and more.

It’s time to identify new ways to apply and market IoT to attract buyers and adapt to changing market conditions.

Here are some emerging areas where IoT’s potential intersects with what users want today: 

• ESG: Today’s buyers are increasingly concerned with environmental and social sustainability. Investors, regulators and consumers alike are paying keen attention to issues like product lifecycle, plastics use and labor practices. Connected device manufacturers can also employ thorough ESG auditing to identify ESG-linked risks, prioritize areas for change, and quantify potential savings of carbon and costs.
• Ease of use: Users simply want to "plug and play," without the hiccups or hassle of troubleshooting tech setups. That's why connected devices need to demonstrate superior interoperability with the latest operating systems, apps, routers, etc.
• Security: Both companies and consumers are increasingly worried about cybersecurity risks, especially as more personal or confidential data are transmitted through IoT devices and sensors. A fragmented regulatory environment means that products lack uniform standards. But there are strategic actions connected device designers and manufacturers can take now to anticipate regulatory change — and better safeguard privacy.

Download our new e-book, “The Next Wave: Opportunities for Connected Devices,” to learn more about how connected device designers and manufacturers make measurable improvements across these three areas. Plus, see how UL Solutions can provide strategic direction around cybersecurity, interoperability, ESG reporting, regulatory compliance and global market access support.