Will you disrupt the market, or will you be disrupted? That’s the question many established companies are asking themselves as smart technologies find their way into more and more products. Being first to market for a new type of product—or a new technology integrated into an existing product line—can help you retain or even grow market share.
Take Honeywell, for example. The company invented one of the first thermostats back in 1885. When connected technologies for the home began to surface more than a century later, Honeywell jumped at the chance to manufacture thermostats embedded with Wi-Fi.
But the company went even farther to cement its leadership. When third-party companies launched new energy management tools that could collect data from home devices and analyze it at the cloud level, Honeywell relaxed its hold on data. With its new cloud-based open API, Honeywell smart thermostats will be able to integrate with a variety of home automation systems. This savvy move means Honeywell can continue to be a key player in the smart thermostat market, no matter which home automation systems make it big.
DADO Labs is uniquely positioned to speed time-to-market for other forward-looking companies that want to integrate connected technologies into existing products. From discovery to production, the hardware can be implemented in as little as six months.
To build an Internet of Things (IoT) platform internally, an OEM might spend $2 to $3 million and take anywhere from 18–24 months to complete the project. It would also need to manage manufacturing and supply chain processes.
The DADO platform is a turnkey, software as a service bundle that includes the hardware, mobile app, and analytics—at a fraction of the cost of in-house development. The platform streamlines overall product development and can cut months from the process, so OEMs can get to market—and disruption—faster than they could on their own.
You can learn more about the DADO platform and the OEMs we work with today at www.dadolabs.com.