The Internet of Things (IoT) has entered the B2B space in full force. According to SparkLabs Global Venture, the B2B IoT device market will grow from approximately 2.5 billion connected devices in 2017 to 5.4 billion in 2020.
Curious about the state of new product development and what it means for those selling building materials, I recently attended Industry 2017, an annual fall conference organized by Product Collective, a Cleveland-based cooperative organization that’s focusing on the future of product management.
The promise of the trade show, for some building products manufacturers, is beginning to lose its luster. As a demand generation agency, we hear conflicting views about the pros and cons of the trade show exhibit as a way to increase demand.
You heard me: Take it. In the quest to market and sell construction materials, take ownership of the additional market share that your organization deserves.
And, take on a level of organizational growth that’s greater than the industry’s overall.
We can look to the U.S. economy for perspective. While we are not in economic doldrums, we certainly aren’t in a boom either. The U.S. economy is projected to grow 2.1% in 2017 and 2018, according to estimates from the International Monetary Fund.
It’s no secret that building product brands are attempting to reposition themselves from traditional product manufacturers to technology-centric solution providers specializing in the categories they offer. Today, many manufacturers are embracing the Internet of Things (IoT), allowing users to send and receive data, often in real time, in addition to leveraging a product’s automated and connected features.
It’s been 10 years, but the construction sector is still talking about the Great Recession. These days, while strength in the construction sector obviously has returned, its workforce is struggling to keep up with demand.
With many skilled construction workers leaving the industry in the wake of the 2007 financial crisis, the ranks of workers that replaced them have been challenged to fill their shoes.