Latest news with #connecteddevices
Forbes
7 days ago
- Business
- Forbes
The Economic Shift Reshaping How OEMs Manage Products
Thomas Ryd is CEO & cofounder of a device lifecycle management leader with a mission to secure the world's connected devices. Over the past decade, industries shifted from hardware-defined products to software-driven services. From connected thermostats to smart factory equipment, physical devices are now just the starting point—what drives long-term value is the software that powers them. Within this evolution are new business models rooted in subscriptions, recurring revenue and continuous digital engagement. As a result, the traditional 'ship it and forget it' mindset no longer applies. Products must now be treated as living platforms, requiring ongoing management and improvement throughout their lifespan. Changing how products are designed and delivered, OEMs must similarly evolve and adapt how products are managed post-deployment. Moving From Hardware To Software In A Connected Economy The rise of the software-first economy didn't happen overnight, but it's clearly here to stay. Fueled by higher long-term revenue generation and overall consistency, businesses moved away from one-time transactions toward SaaS-based recurring revenue models. This approach offers predictable income, higher margins, scalable growth and often longer customer life cycles—attributes that make software companies especially attractive to investors. But this transformation isn't limited to cloud or enterprise technology. It's happening everywhere. In the automotive sector, vehicles today offer performance enhancements and advanced features, purchased via subscriptions. In industrial settings, smart machines are monitored and optimized through real-time analytics and subscription maintenance contracts. Even in the home, everyday products like appliances, lighting systems and thermostats now function more like digital platforms than static tools, complete with a list of optional, subscribed features, functionality and value. A key driver behind this transition is the Internet of Things (IoT), introducing billions of smart, connected devices into the global economy. Each of these endpoints represents an ongoing software component that must be maintained, secured, improved and funded over time. The value of a product is no longer constrained to a static state at the time of purchase. Each product, how it performs and improves over time and the revenue it generates, is dynamic, with the ability to change through its software. Software is the heartbeat, and OEMs managing it effectively are critical to long-term success. The Implications For Smart Product OEMs For OEMs, the software-first economy presents a turning point in traditional product management. The days of building a device, shipping it and moving on to the next generation are over. Today's connected products demand ongoing engagement and support beyond the point of sale. Consumers expect regular software updates, robust cybersecurity and new features delivered over time—regardless of whether they're using a smartphone, connected appliance or industrial equipment. Software-centric products place a new level of responsibility squarely on the shoulders of OEMs. It's no longer acceptable—or sustainable—to manage smart products with a hands-off strategy. The manufacturer must ensure every device remains secure, functional and compliant throughout its life cycle. To succeed in this environment, OEMs must think like software companies. They need to adopt agile development processes, deploy updates continuously, embrace a proactive, service-oriented mindset and establish a business model that supports the ongoing resource requirements. And security can no longer be an afterthought; it must be embedded throughout, from design to final decommission. Ultimately, this is a strategic shift. Manufacturers who fail to adapt risk falling behind as competitors deliver smarter, safer and more reliable products through dynamic software-first strategies. DLM: The Framework For The Software Revolution Today's OEMs need a strategic framework that supports long-term product performance, security, compliance and revenue generation: device life-cycle management (DLM). Modern DLM is a holistic, end-to-end approach to managing connected devices from concept to retirement. By implementing DLM, OEMs shift from reactive, break-fix support models to proactive life-cycle management. It helps ensure that devices stay up-to-date, resilient to threats and in full regulatory compliance throughout their operational life. This structured approach empowers OEMs to treat their devices like evolving software platforms, managing updates, security and performance just as a SaaS provider would. Without an end-to-end view of smart products, it's challenging for OEMs to capture the full scope of resources required to support the product. DLM provides the overall picture and key life-cycle stages so OEMs can adjust their business models and resource allocation appropriately. DLM As A Competitive Differentiator For OEMs operating in regulated industries like healthcare or automotive, DLM is critical for maintaining compliance with evolving cybersecurity mandates such as the Cyber Resilience Act (CRA) and NIS2. These regulations require not just secure design but verifiable processes for patching, monitoring and retiring connected devices. Even outside heavily regulated sectors, DLM marks the beginning of viewing traditional hardware products through a software-centric lens. This unlocks technical benefits like improved security, reduced downtime and faster feature rollouts while also supporting modern business models. Subscription-based maintenance plans, over-the-air (OTA) feature packages and add-on services help OEMs monetize the full life cycle of a device—an essential part of success in an economy where long-term support costs can outpace the original sale price. Forward-thinking OEMs understand that DLM isn't just about updates and maintenance but also about building a sustainable future. When leveraged strategically, it signals reliability and recurring revenue that simultaneously boosts customer loyalty. In a market where differentiation hinges on software quality and post-sale engagement, DLM is a strategic asset no OEM can afford to ignore. Future-Proofing In A Software-Defined World The line between hardware and software has all but disappeared. Every connected device is now a platform—one that must evolve, improve and remain secure over time. In this new reality, success is defined not by what a product does at launch but by how well it performs and adapts throughout its life cycle. OEMs that embrace DLM are better positioned to deliver the security, agility and customer satisfaction that today's market demands. But sustainability requires more than operational excellence—it depends on monetization. Without a plan to fund long-term software upkeep, the cost of updates and maintenance will eventually exceed the value of the original sale. To future-proof both products and business models, DLM must move from the backend to the boardroom. It's no longer a technical detail—it's a strategic imperative. OEMs who recognize this shift and invest accordingly will lead the software-defined economy. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
National Post
11-06-2025
- Automotive
- National Post
MesoMat Announces Seed Round Led by Ridgeline to Digitize the Tire and Drive Down Emissions
Article content HAMILTON, Ontario — MesoMat, a startup transforming tires into data-rich, connected devices, today announced it has raised a Seed Round led by Ridgeline with participation from RISC Capital, RPV Global, GTAN including the Archangel Network's Adrenaline and Starforge Funds, Extra Innings Ventures and others. The funding will support MesoMat as the company accelerates commercialization, expands hardware production, and continues the development of its proprietary tire management platform, which helps vehicle fleets optimize performance, reduce downtime and curb carbon emissions. Article content 'MesoMat is tackling one of the most pressing challenges in commercial trucking by bridging the gap between outdated manual processes and the data-driven insights fleets need to succeed.' – Ryan Clinton, Managing Partner at Ridgeline Article content 'We're excited to partner with a group of investors who share our vision for revolutionizing how fleets approach tire management,' said Paul Fowler, Co-Founder and CEO of MesoMat. 'By digitizing the tire—the only part of a vehicle that touches the road—we give the vehicle a sense of touch. Through the tire, MesoMat extracts data that helps fleets manage payload, optimize routing, improve efficiency and reduce two of their largest expenses: fuel and tires.' Article content MesoMat's technology integrates advanced sensors within tires, capturing real-time data on tread depth, tire pressure, and rubber-road interactions. Leveraging cloud-based analytics, MesoMat transforms these data streams into actionable insights that allow drivers, fleets, and service providers to track tread depth, achieve optimal tire pressure, reduce wear, and prevent costly failures. This enhanced visibility translates into improved safety, better fuel economy, and a measurable reduction in carbon emissions—critical in an industry facing steep challenges related to electrification and hydrogen infrastructure. Article content Among MesoMat's customer base are several of the largest vehicle fleets in North America, leading tire manufacturers, major tire dealerships and a top global truck manufacturer. Article content Addressing a Large-Scale Problem Article content Currently, there are estimated to be over 300 million commercial tires on the road worldwide, yet most remain undigitized, limiting their potential to contribute to smarter, more efficient fleet operations. Further, with tire performance directly impacting up to 10% of a vehicle's carbon emissions, MesoMat's solution targets one of the most significant levers for improving fuel efficiency. As full electrification and hydrogen-based solutions may still be years away, MesoMat offers a near-term strategy for the trucking and heavy-vehicle industry to trim costs and reduce emissions. Article content Backed by Prominent Investors Article content Along with Ridgeline, prominent investors such as RISC Capital, GTAN, and RPV have joined the round, underscoring confidence in MesoMat's potential to transform tire management across industries including long-haul trucking, mining, tire manufacturing, and more. Article content 'MesoMat is tackling one of the most pressing challenges in commercial trucking by bridging the gap between outdated manual processes and the data-driven insights fleets need to succeed,' said Ryan Clinton, Managing Partner at Ridgeline. 'We believe Paul and his team have the expertise to redefine how fleets manage tire-related costs in a sector that's overdue for modernization.' Article content A World-Class Team Article content Co-founded by Paul Fowler, whose background includes a Master's degree in physics, research at world-leading institutes, and prior experience as the first employee at a Y Combinator–backed data-services startup, MesoMat boasts a robust team of engineers and data scientists. The company's Co-Founder and CTO, Kari Dalnoki-Veress, is a leading expert on the physics of rubber, and recent hires bring experience in trucking and logistics—all focused on innovating the way fleets operate. Article content 'Our mission is to digitize the tire to bring intelligence to a critical component of the global supply chain that we depend on to move goods worldwide,' added Fowler. 'Whether it's long-haul trucking, last-mile delivery, or heavy-duty mining, we want to help drive down costs, reduce downtime and cut emissions. We're proud of the product and exceptional team we've built to make this vision a reality.' Article content About MesoMat Article content Article content Article content
Fast Company
04-06-2025
- Fast Company
Smart technology is making our homes safer
The ability to stay connected through technology plays a pivotal role in our everyday lives, but in some areas of our lives we are only beginning to realize the life-saving potential of smart technology. This is particularly true in the world of fire and carbon monoxide (CO) safety, where timing can be the difference between life and death. We know that having working smoke alarms in the home can double the likelihood of safely escaping a house fire. Due to modern synthetic materials and open floor plans, fires today are burning hotter and faster. In an emergency, every second counts. Smart technology that provides real-time notifications and remote monitoring capabilities is emerging as a crucial tool for protecting both lives and property. This is especially vital when we have elderly parents who might not respond quickly to alarms, or beloved pets who can't communicate their distress when smoke or CO threatens their safety and we're not at home. Building these smart capabilities into both smoke and CO alarms could help save lives. Stay informed from anywhere with smart tech According to a 2023 survey, 85% of Americans own at least one smart home device. With smart and connected technology becoming a household staple, it is our goal to make sure that safety is prioritized at the same rate as convenience. Families who invest in connected safety devices are not merely adopting the latest trendy gadgets, but are in fact investing in the most efficient way to help protect what matters most—our loved ones and the home we create memories in. The most effective smart safety solutions operate seamlessly in the background of our busy lives, providing peace of mind without requiring constant attention. These systems can alert us to potential dangers whether we're at home cooking dinner, sleeping upstairs, or traveling around the world. At Kidde, we leaned into this idea when collaborating with Ring to introduce a collection of smart smoke alarms and smoke and CO combination alarms. With built-in Ring technology and an optional monitoring service to help protect homes from anywhere, this connected technology can be used to help save lives and property. But this is just the tip of the iceberg for how connected tech can transform the home safety landscape. Smoke and CO alarms can communicate with other smart devices The integration of smart technology into home fire safety and CO devices is in the process of revolutionizing how we protect our homes. Strategic collaborations present massive opportunities for brands that are willing to combine their expertise and identify avenues for innovation that will put smarter safety solutions into the hands of consumers. Remote alerts and monitoring: Today's connected smoke and CO alarms can send immediate notifications to smartphones regardless of location, allowing for faster emergency responses even when no one is home. Many systems now offer the option of professional monitoring services that can dispatch emergency services if needed. Interconnected systems: Modern smoke and CO alarms can communicate with each other, ensuring that when one alarm sounds, all alarms in the home activate. This is crucial for multi-story homes where occupants might not hear an alarm on a different floor. The most advanced safety technology doesn't operate in isolation. Smoke and CO alarms can now communicate and act in conjunction with other smart tech in the home. Regulations help keep consumers safe Despite the many benefits that smarter technology can provide for the fire safety industry, it's only one piece of the puzzle. Common sense standards and regulations are also necessary to ensure the public health is consistently and equitably protected. Regulations covering fire and life safety technology are key to our safety given that Americans spend roughly 90% of their time indoors. Voluntary standards, which are often adopted into code or incorporated by reference in legislation, are developed in a consensus-driven method by industry experts, firefighters, academia, consumers, and other stakeholders to help set minimum performance requirements for products and services. Our input into this process, alongside key partners, helps us innovate to meet the demands of present and future customers and help keep more people safe. However, consumers are often unaware of safety codes and standards. Recently, Miller Gardner, son of former Yankee Brett Gardner, died from exposure to carbon monoxide, while vacationing in Costa Rica. The U.S. Embassy in Costa Rica underscored these travel safety concerns, noting that 'most countries in Latin America, including Costa Rica, do not have widespread laws mandating carbon monoxide detectors. However, some businesses (like hotels) or embassies may voluntarily install them due to safety concerns.' To avoid tragic situations like this, Kidde suggests all travelers take a battery powered CO alarm that fits in their luggage. Ultimately, knowledge of standards and emergency preparedness is perhaps the most important tool anyone can have at their disposal. Because of that simple truth, we've made fire and CO safety education one of our core missions to help keep consumers informed. And now, smarter technology is helping consumers have more knowledge than ever about the state of their home. Connected, smart technology can save lives Humans are flawed. We forget things, we mess up, and we assume a home fire will never happen to us. Technology can function like another version of ourselves, always keeping an eye out for our safety. Our partnership with Ring demonstrates how essential and transformative collaboration can be to developing solutions that meet this type of need and make home safety an integral and seamless part of your everyday life. When it comes to the safety of our families and homes, there's no such thing as being over-prepared.
