Nexion has partnered with US-based AVTECH to sell the SmartRooms technology, cracking open the US $7bn Industrial Internet of Things (IIoT) market.
Global cloud service provider Nexion Group (ASX:NNG) has expanded its solutions capability and portfolio after launching the SmartRooms initiative and website.
SmartRooms is a mission critical infrastructure monitoring solution, bridging the gap between cybersecurity and facility security.
Every organisation monitors their network for security to prevent outages, but only a few are monitoring their facility’s environment.
According to Nexion, 30% of all downtime, data loss, and damages which organisations face are in fact caused by addressable environmental factors like temperature, humidity, power loss or water leaks.
The SmartRooms platform provides a single source solution that automatically discovers devices across the network, logs and graphs sensor data, and alerts users when these environmental events occur.
Partnership with US-based AVTECH
The SmartRooms system also gives a warning when thresholds are passed, which then triggers reporting and a corrective auto response.
The platform’s automatic corrective actions can resolve issues for a lights-out response, allowing ‘Disaster Prevention’ instead of ‘Disaster Recovery’.
“What we’re doing is extending the traditional IT-monitored environment and security mesh to the physical edge, the building, the site that faces risks from heat, water, humidity, fluid flows and more,” Nexion CEO, Paul Glass told Stockhead.
“The system therefore makes the decisions on how to prepare for all threats, that are often not discussed between the IT manager and the facilities manager, a single conversation and single supplier,” he added.
The platform was built by AVTECH Software, which has now become the latest US-based technology company to partner with Nexion.
In this deal, Nexion will act as principal distributor of AVTECH range of products in Australia and New Zealand.
Founded in 1988, AVTECH has over 150,000 end users located in over 185 countries, including organizations in every industry and on every continent.
Its products are heavily used by the Fortune 1000, US government agencies, and sectors such as banking, telecommunications, energy, and education.
To facilitate ease of purchase and accelerate order-to-cash, Nexion has this week launched the www.nexionsmartrooms.com website.
The website offers a comprehensive range of products for monitoring work environment risk factors such as temperature, fluid levels, airflow, humidity, and access/egress.
The growth of Industrial Internet of Things
According to Gartner, the enterprise IoT platform market will grow to USD $7.6 billion in 2024, with a 31% CAGR.
Growth will be driven by both on-premises and cloud deployments by the manufacturing, transportation and utility sectors, among others.
Gartner defines the market for Industrial Internet of Things (IIoT) platforms as a set of integrated software capabilities.
These capabilities can improve asset management decision making, as well as improve operational visibility for plants and depots in asset-intensive industries.
The SmartRoom platform is expected to not only combine traditional IT monitoring and security to the physical edge by connecting the IT department to facilities management, it will also add a new, rapidly growing revenue stream for Nexion.
Whilst the distribution agreement is not material and orders for AVTECH products to-date are not individually material, Nexion believes the total annual revenue from the sales bundled with Nexion’s own services has the potential to grow.
The AVTECH distribution agreement also has no quantity pre-commitment, or minimum order requirements.