The valuable data produced by sensors has opened up new possibilities across a variety of industries resulting in significantly decreased costs, optimized processes, and better customer service.
What is enabling sensors to digitally transform industries? The cost of sensors, transactional processing, storing data, and communications between networked systems and devices dropped – and is continuing to drop — by magnitudes. This enables a ubiquitously mobile world to take on previously-impossible applications that can be run in a cost-efficient and practical manner. Additionally, due to innovations in data storage, the cost to store and analyze data is now practically free. Businesses can store, manage, merge, and evaluate data centrally or at the edge in a cost effective and efficient manner. Historically this data could not be captured, monitored, analyzed, or measured affordably.
Startups and enterprises are leveraging sensor advancement and expanded availability by supercharging their products while venturing into new markets. This sea change enables innovation through tracking and measurement i.e. data collection and analysis. Sensors now harness enough power to confer advantages that were previously unavailable. Current examples that are grabbing headlines include remote healthcare monitoring through sensors and remote monitoring of devices for performance indications enabling the ability to proactively improve performance and / or prevent equipment outages.
Sensors allow affordable accurate data measurement and analysis. The more detailed the data collected, the better a problem can be understood and solved. Simply put, that’s a boon for innovation. And as innovation builds upon itself, enterprises and startups can leverage sensor capabilities to do more meaningful work while spending less money, leading to more revenue, investment in R&D, improved products, and compelling insights. The bottomline: superior products and happy customers.
Celesta Capital understands the world of sensors. With significant investments in a number of companies, Celesta works with companies leveraging the data generated from sensors across biotech, data infrastructure, 5G, robotics, data analytics, and more, to develop and bring their products to market.
For example, Celesta has invested in Cloudleaf, a transportation logistics company that creates value through its use of sensors. Sensors dramatically increase the visibility of asset movement, location, and condition across the supply chain network, from supplier to manufacturing to distribution. Cloudleaf customers gain important insights that reduce material losses and enhance the reliability of their operations to increase revenues. These improvements in supply chain visibility are brought to life by sensors, which help achieve a 70x first-year return-on-investment.
Calumino, another Celesta portfolio company, uses thermal imaging sensors to improve Internet of Things (IoT) applications. Because thermal imaging sensors have become more economical, Calumino enables completely new use cases in smart building technologies, fire detection, security, and monitoring by increasing access through affordability. The company’s technology reduces electricity costs in corporate buildings, strengthens security and safety systems, and provides valuable occupancy data. As strategic energy usage becomes more and more important for building managers due to climate change, Calumino is perfectly positioned to help offices do their part in reducing energy consumption around the world.
There is no limit to the creative new ways sensors can be used to reinvent industries and develop game-changing products. Whether within logistics, manufacturing, transportation, or retail, sensors are becoming ubiquitous. With reduced cost and expanded availability, increasingly powerful sensors will continue to drive digital transformation, allowing many new innovative startups and enterprises to utilize them in unique and boundary-breaking ways.