Weekly Must Reads: The Coming $14 Trillion Boost from Connected Tech

Don’t miss this week’s must-read field service management stories.canstockphoto24595293 (1)

There’s plenty of buzz around the Internet of Things and connected technology, but many questions remain about how this new wave of technology will work in practice. A recent report from consulting firm Accenture shows that the Industrial Internet of Things could contribute $14.2 trillion to the world’s largest economies during the next 15 years by tapping into data from smart devices in oil refineries, mines and manufacturing plants.

Read more at Forbes 

Wearables Market to Explode by 2019

Though still relatively new, the market for wearable technologies is experiencing explosive growth: 19 million wearable devices shipped in 2014 compared to 5.9 million the year prior. That trend is expected to continue, according to new research from Berg Insight that predicts 168 million connected wearable devices will be shipped by 2019. The healthcare industry could one of the biggest winners.

More at BusinessSolutions

Treat All Customers — Old and New — Well

Treating new customers well and giving them a warm welcome to your business is a given. But to achieve long-term loyalty and trust, companies must keep that commitment in the long run, too. Marketing Professor Karen Mishra shares her tips for building a long relationship with customers.

See the full list at Entrepreneur

FSM Market to Top $3.5B by 2019

The field service management market is gaining momentum — a new report by MarketsandMarkets estimates it will be worth $3.52 billion by 2019.

Check out the report here

Plunging Oil Prices a Mixed Bag for Service Firms

As the price of oil continues to drop, the field service industry is experiencing two contrasting effects. The lower price of gas is saving fleet managers money, but the price drop has also forced service companies like Baker Hughes to lay off staff.

Read more at the Wall Street Journal

 

ABOUT Preeti Upadhyaya

Preeti is a multimedia journalist with expertise in technology, economics and markets reporting. Her work has been featured on Marketplace, Chicago Public Radio, MarketWatch, the Wall Street Journal and other publications. Preeti has a M.S. in advanced business reporting from Northwestern University's Medill School of Journalism.