In 2022, the market for the Internet of Things grew by 18 percent to 14.4 billion active connections. Experts predict continued growth into the future as well, estimating that by 2025, as supply constraints ease and growth further accelerates, there will be approximately 27 billion connected IoT devices.
The rapid growth comes as no surprise, as IoT technology is extremely flexible, offering myriad advantages across different business processes. The reason is that IoT technology provides enterprises with real-time insights and in-depth data analytics, which is essential in a time when data has become the foundation of modern-day business.
The extra data and insights generated by IoT technology offer advantages that can be used in several ways by a business. For example, IoT devices can manage, monitor, and alert staff of changes in processes or productivity, helping them make smarter decisions about work. Furthermore, devices can proactively advise of their status so staff can schedule the maintenance before it can affect production, while also being integrated into larger systems to optimize operational efficiency and help reduce costs.
IoT technology, along with its associated devices, have become extremely critical, with enhanced insights and real-time data being the edge enterprises may use in an extremely competitive digital environment.
Recently, Veea Inc., a leader in integrated smart edge connectivity, computing, and security technologies for edge and cloud, announced that its popular range of VeeaHubs and related edge computing and communications software has received a 2022 IoT Excellence Award presented by TMC and Crossfire Media.
“We are honored to be receiving the 2022 IoT Excellence Award,” said Allen Salmasi, Veea CEO. “This award recognizes the innovation embodied in Veea’s Edge Platform enabling and simplifying the development and integration of IoT solutions across multiple applications that pulls together existing and new smart devices into efficient customized ‘ecosystems’ at the edge.”
“It is my pleasure to recognize the VeeaHub offering with an IoT Excellence Award for its excellence in innovation,” said Carl Ford, CEO & Community Developer Crossfire Media. “As a leader in this rapidly evolving industry, I look forward to following Veea’s future successes.”
As the IoT and Industrial IoT edge continues to expand and evolve, Veea’s Edge Platform, with its VeeaHub smart computing hubs and vMesh, its edge networking software, redefines the role of gateways to bring more processing power, memory, storage, and connectivity to advanced, distributed, and automated solutions.
The platform provides feature-rich IoT tools, including an IoT gateway and developer toolkit, allowing customers to build full-featured, multi-interface, reliable, and scalable software applications for their loT solutions by leveraging the power and simplicity of the Veea Edge Platform.
On top of this, multiple locations can be connected using vMesh for highly efficient remote monitoring, management, alerting, data collection, and analytics with a unique distributed solution that can be quickly and economically deployed. IoT applications running on any VeeaHub device can access any IoT device attached to any other VeeaHub device on the local mesh network, greatly simplifying network scaling.
The 2022 IoT Evolution World IoT Excellence Award honors innovative products that support the availability of information being deduced, inferred, and directly gathered from sensors, systems, and anything else that supports better business and personal decisions.
Furthermore, the award recognizes the companies emerging as leaders in the growing edge computing space. Companies selected for this award have proven that their products are enabling advanced IoT deployments by offering edge solutions that bring real-time computing, data availability, analytics, AI, and machine learning to edge devices.
IoT Evolution World has been honoring technology companies with awards in various categories for over 20 years now. These awards, like the IoT Excellence Award, are regarded as some of the most prestigious and respected awards in the communications and technology sector worldwide, with the winners representing prominent players in the market who consistently demonstrate the advancement of technologies.
Edited by Erik Linask