IoT development has grown to drive innovation across major industries, causing corporations to adapt with new technical solutions. According to Mordor Intelligence research, the global IoT marketplace is expected to grow to reach a value of $US 1.25 trillion by 2025, partially driven by legacy industries adapting to new market conditions, particularly those influenced by the COVID-19 pandemic.
In recognition of this trend, TELUS (TSXV:T)(NYSE:TU) has launched the TELUS IoT Marketplace to help Canadians embrace the adoption of innovative Internet of Things (IoT) technologies. The company’s IoT initiative is designed to help create new sales opportunities for companies capable of leveraging IoT technologies in order to decrease operating costs and provide a more consistent personal experience to customers.
The TELUS IoT Marketplace initiative is focused on improving the future of retail through innovative IoT-based solutions. As part of TELUS’ IoT initiative, the company recently announced the addition of Loop Insights (TSXV:MTRX)(OTCQB:RACMF) to its IoT marketplace partner network. The TELUS marketplace is expected to provide lead generation and sales channel support for Loop’s contact tracing platform while helping with additional sales and marketing efforts. Loop is now among a number of TELUS partner organizations including Moneris, SmartSense by Digi, and ScreenScape that have demonstrated new capabilities with their respective IoT technologies.
“By partnering with innovative and leading IoT development companies such as Loop, we’re ensuring that our customers have access to some of the most advanced IoT business solutions in the world,” said Andrew Turner, TELUS VP of Strategic Operations.
In September 2020 TELUS began its partnership with Loop by deploying Loop’s IoT device Fobi to test and leverage its automated marketing capabilities. The device is designed to sit between a POS system and its printer, creating additional opportunities for targeted marketing and customer engagement. With the inclusion of Loop’s contact tracing technology, TELUS is now working to market and sell each of Loop’s primary services including contact tracing, improved retail insights and enhanced marketing capabilities.