Real-Time Innovations (RTI), an Industrial Internet of Things (IIoT) connectivity company, has announced its growth numbers, including a 23 percent increase in recurring bookings, contributing to a 27 percent CAGR sales growth over the last three years.
The company has been growing its implementations in several key IoT industries.
Healthcare
In 2017, RTI continued to gain traction in connected medical devices, medical robotics and medical imaging. Healthcare providers are increasing demand for IIoT solutions in medical devices and look for interoperable security, data query, device mobility and web application integration in solutions.
Transportation
RTI has applications in the automotive, rail, metro transport, air traffic control, and autonomous vehicle markets. The company has implementations in passenger cars, campus vehicles, trucks, electric-vehicle startups and futuristic systems.
Energy
With the drop in oil prices, many upstream oil companies are looking to automate drilling and production. RTI is working with Oil & Gas customers to develop new architectures for these systems that capture and expand on the domain knowledge from the field engineering professionals. It is also working on the transition to green energy and the integration of renewables into the power grid, with generators running RTI software producing about 14GW of clean energy in hydropower, wind and solar plants.
The U.S. Department of Energy (DOE) recently awarded RTI $1 million in funding to advance continuing smart grid research and development and the company chairs the Industrial Internet Consortium (IIC) Microgrid Testbed, joined this year by software platform developer and system integrator, Wipro.
“The smart machine era of the Industrial IoT is the largest market transition in history. In only four years, the IIoT evolved from early-stage interest to its first deployments. The IIoT is truly enabling the systems of the future,” said Dr. Stan Schneider, CEO, RTI. “RTI is a leader in the industry’s early growth. Each year, more major corporate players trust RTI to support their IIoT multi-billion-dollar initiatives. Our success is also evidence that DDS is emerging as the preferred IIoT standard in many industries. We value this responsibility as we continue to drive momentum into 2018.”
Ken Briodagh is a writer and editor with more than a decade of experience under his belt. He is in love with technology and if he had his druthers would beta test everything from shoe phones to flying cars.Edited by
Ken Briodagh
