The IoT industry is evolving quickly, and it isn’t showing any signs of slowing down. GSMA Intelligence projects that the IoT market will be worth $1.1 trillion in revenue by 2025 as market value pivots from connectivity and applications to platforms and services.

Itron recently participated in IoT World 2018 where we shared some of the insights we’ve gained while deploying more than 190 million intelligent devices around the globe. We had two keynotes and four speaking sessions and panel engagements during the four-day event, which drew 12,000 industry leaders ready to transform the world through IoT.

Here are some highlights:

In his keynote presentation, Philip Mezey, Itron president and CEO, shared how the utility industry has been at the forefront of the Industrial Internet of Things (IIoT), connecting millions of devices over the last several decades. He also delved into the importance of having an IIoT network based on standards because interoperability between many vendors and many applications essential to maximizing the value of the IIoT.

Philip and Itron’s director of IoT product management, Itai Dadon, showed attendees how IIoT really works in a live demo of a gunshot detection solution that utilizes Itron’s network technology integrated with acoustic sensors from Itron’s partner Databuoy. This solution sends automated notifications about gunfire in less than one second while automatically reporting the exact time and location of the shot. Itai simulated a gunshot by clapping his hands loudly near an Itron-connected smart streetlight on stage, which sent a text message alert about the “gunshot” to Philip in real-time.

During her keynote talk on driving IIoT innovation, Sharelynn Moore, Itron’s senior vice president of networked solutions, shared how Itron works with utility companies across the globe to modernize electric, gas and water systems to ensure these resources are delivered safely, securely and efficiently. She also shared an example of the smart grid in action during Hurricane Harvey last year. Houston’s CenterPoint Energy—which services 5 million metered customers across six states—was able to use smart grid technology to identify outages and restore power to residents quicker during the hurricane. With the help of Itron’s network, CenterPoint Energy avoided an estimated 45 million outage minutes for its customers by remotely locating and isolating faults and rerouting power.

Dan Evans, director of product management at Itron, joined a panel of industry experts to discuss engaging in the smart cities journey. He shared how our Partner Ecosystem program has helped us develop partnerships needed to build successful and scalable smart cities. He also shared views on the importance of collaborating to support diverse pilot projects, which are critical in achieving Itron’s smart city vision.

Todd Thayer, director of technical enablement at Itron, and Mark Anderson, CTO at Operational Technology Solutions (OTS), presented on considerations of bringing an IoT product to life from ideation to commercialization. OTS is an Australian-based utility solution provider that develops innovative smart grid devices that improve situational awareness and system uptime. They discussed the process of working within Itron’s Developer Program to deliver an IoT-connected line monitor that automatically detects faults in a utility’s electricity distribution network to accelerate outage response. Todd discussed how unlocking the value of IoT requires collaboration and how the market is too vast for one company to tackle it alone. Mark talked about how the Itron Developer Program provides OTS with developer tools and support to help them deliver new product from concept to field trials in less than 8-weeks.

During “Multi-Service Networks as a Shared and Marketable Asset,” Ty Roberts, Itron’s vice president of product marketing, talked about new ways to make the most of utility infrastructure investments. He focused on the considerations of opening utility communication networks to other entities in shared business models for increased grid reliability, safety and lower cost of ownership. Ty also discussed the evolving role of utilities as essential service providers and new opportunities to leverage multi-tenant networks to support additional revenue streams such as smart streetlights, water and gas metering, and other smart city applications.

Thank you to all who attended our speaking sessions at IoT World! Don’t miss our IoT World 2018 Recap, part 2, where we will dive into how we worked with our partners to showcase how together, we’re creating a more resourceful world.

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The Itron Team