Asset managers who deploy asset-monitoring and management solutions can benefit from realtime data without having to physically monitor their assets, and this remains one of the most common uses of IoT (Internet of Things) technology. The ability to gain visibility into an asset’s status, location, health, and/or performance without actually being in front of it is a huge advantage, not just for owners of remote assets and owners of assets on the move but also for asset managers who could benefit from freeing up their time or the time of their employees.

Asset management is driving IoT adoption in numerous vertical markets, ranging from healthcare to construction, utilities, oil and gas, manufacturing, and beyond. For instance, in healthcare, the asset-management market is expected to reach nearly $30 billion by 2020, which is up from $6.7 billion in 2015. In the case of healthcare, factors contributing to market growth include technological innovation that has removed or lessened barriers to entry, as well as the desire to improve patient outcomes, decrease costs associated with maintaining hardware, and increase staff productivity. These market drivers aren’t specific to healthcare, either. In fact, the desire to decrease costs and increase productivity while simultaneously improving outcomes is universal, and the IoT is helping myriad industries achieve these goals and more.

Intelligent asset-monitoring services are an important way IoT service providers are helping companies unlock the value associated with asset management. A new partnership between Aricent and AWS (Amazon Web Services), for instance, aims to develop an IoT-enabled asset-management solution that will help customers across industries drive growth by leveraging device data monitoring and mining. Aricent is a global design and engineering company, and, together with AWS, it will deliver the Aricent Asset Monitoring solution as part of its IoT portfolio.

By working with AWS IoT Analytics, Aricent says the asset-monitoring solution will make it possible for enterprises to monitor, manage, and analyze data from IoT sensor-enabled equipment, which could include assets like wind turbines, generators, transformers, solar panels, and oil pipelines, in addition to a wide variety of other IoT-connected industrial equipment. This service solution and others like it give companies a leg up on maximizing their IoT deployments while also helping them leverage realtime data insights about devices and equipment. Data-driven insights can then be used to improve decisionmaking, streamline operations by boosting productivity and efficiency, and harness new business opportunities, among other opportunities.

The Aricent/AWS collaboration is a good example of how tech providers are finding revenue opportunities in offering valuable services to customers that are looking to improve their businesses through the use of IoT devices and solutions. As more asset-intensive companies deploy connected sensors to monitor and manage these assets, analytics platforms and services that can help these businesses make sense of data by driving actionable insights are invaluable.

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