Exosite LLC, a provider in the Internet of Things (IoT) platform market, announced Exchange, a curated library of reusable IoT elements, including services, products and content that enable industrial manufacturers to rapidly solve common IoT challenges. Exchange helps organizations implement a centralized approach to IoT development that focuses on standardization, reuse and collaboration to reduce costs and avoid duplicated efforts. With Exchange, organizations can expect to slash development costs by 50 percent and accelerate time-to-market by 30 percent, making the economics of IoT much more feasible, according to Exosite.

Large organizations entering the IoT world quickly realize that developing an IoT digital ecosystem can be expensive and time-intensive, and attempting to execute this process multiple times within the same company can be a recipe for failure, says Exosite. In an attempt to alleviate these challenges, traditional IoT marketplaces have offered links to separate services, but those services still require manual integration and management. Exosite claims their new release, Exchange, is the first marketplace of its kind to offer pre-integrated elements specifically tailored to the needs of industrial manufacturers that can be added to a solution with the click of a button, resulting in a more seamless, customized experience for end users. Exchange also provides the architecture needed to share and reuse elements across divisions, establish IoT standards and best practices, and integrate with other business systems to dramatically accelerate time-to-market, maximize budgets and fast-track ROI.

“Exchange is a new breed of marketplace that not only provides elements that quickly address common IoT challenges, but also enables organizations to add their own elements for things like developer best practices and brand standards,” says Mark Benson, CTO, Exosite. “With its ability to reinforce collaboration and create internal alignment, Exchange helps organizations cut cost and development time and create connected products that provide better quality and a more consistent brand experience.”

To learn more about Exchange, visit: exosite.com/iot-marketplace