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The Internet of Things (IoT) has become, well, just “the internet.” But edge-of-network devices, including sensors and real-time measurement devices, provide new and ever-changing data that gifts businesses with real value: knowledge.
“Sustainability is becoming one of the business world’s leading issues, and the IoT could be central to reducing greenhouse gas emissions,” McKinsey & Co, the global business consultant, wrote. “Digital technology has the potential to directly reduce fossil-fuel emissions by 15 percent by 2030 and support a further 35 percent reduction by influencing consumer and business decisions.”
For solution providers, the two-fer of delivering return on investment (ROI) and sustainability is hard to ignore. The combination of best practices with IoT, edge computing and sustainability can provide a no-brainer solution.
For example, Schneider Electric’s EcoStruxure energy management platform will take the data that is delivered from the network’s edge and turn it into knowledge. This information can be used to modify how much, when and where energy is provided. That, in turn, makes it easier to identify opportunities for both financial savings and energy savings.
The EcoStruxure system is organized into a three-layer stack: products (like sensors and circuit breakers), an edge control layer for automation and an application layer that includes a best-of-breed ecosystem of apps, analytics and services. The application layer comprises contributions from both Schneider and its technology partners.
The backbone of EcoStruxure is Microsoft's Azure IoT cloud, and Schneider incorporates Intel's field programmable gate arrays (FPGAs) in its sensors and devices?. This lineup provides the ability to monitor energy use throughout a network in multiple locations, and use the data collected at the edge to adjust power consumption accordingly.
Solution providers who would like to register with Schneider Electric’s channel program or seek more information can find out more at the company’s website.
Solution provider customers of all sizes, from small to large, have increasingly made sustainability and carbon reduction efforts part of the business mission. And financial savings has always been part of that mission. IoT and edge-of-network solutions are poised to play ever-more critical roles.
The worldwide IoT market itself is anticipated to see sharp growth during the coming decade. According to analysis by analytics firm Market.US, it’s expected to grow from a $532 billion market in 2022 to $1.8 trillion in 2032—a compound annual growth rate of 13.5 percent.
