Visionstate Releases Business Update as IoT Industry Continues to Grow
Edmonton, Alberta, February 1, 2017 – Fueled by the growing importance of analytics and preventative maintenance, industry experts are estimating the market for products in the Internet of Things (IoT) sector will grow to US $267 billion by 2020. As a Company that specializes in IoT for the facility management sector, Visionstate Inc., a division of Visionstate Corp (TSXV: VIS), is well positioned to capitalize on this opportunity.
The massive growth of IoT applications is directly related to improving efficiencies through data collection and analysis, and using sensors to measure performance and predictability on virtually any device or fixture.
Visionstate has developed an IoT product for the facility management industry that addresses cleaning and maintenance activities in public facilities. This has rendered the antiquated paper-based methods of collecting information irrelevant as they are being replaced with Visionstate’s WANDA device which collects real time information on cleaning and maintenance activities in public facilities.
This real time data on who cleaned what, when, and the resources used in the process is captured in a real time analytics dashboard that managers can use to identify inefficiencies and potential maintenance issues. Visionstate is now integrating sensors with the WANDA device to measure traffic flows and water usage, among others which can be used to track efficiencies, inform budgeting processes and allocate resources.
Visionstate continues to invest in research and development, with an emphasis on the communication protocol between WANDA and sensors that can measure the performance of restroom fixtures relevant to traffic counts. The Company is now beta testing traffic sensors and is ready to begin testing on water sensors that measure performance in fixtures such as toilets, urinals and faucets.
Meanwhile, Visionstate continues to ship devices, particularly for the Canadian and US markets. The Company has recently deployed to six hospitals on the west coast of Canada, and four hospitals in the US, including Chicago, New Jersey, Pennsylvania and Maryland. Additionally, several pilot projects are under way at locations in the US, including in government buildings.