Internet of Things (IoT) is one such innovative technology that can transform many fields right from our homes and our lifestyles to lucrative businesses like the automotive and manufacturing industries. Thus, the scope is massive for IoT applications as they can cater to the diverse needs of people from multiple niches.
IoT bridges any devices like home appliances, software, electronics by facilitating the exchange of information. Hence, the IoT devices have already trespassed several industries like connected automobiles, smart homes, smart hospitals, and exemplary industries.
Since IoT seamlessly connects the physical world with the digital world, it allows you to automate almost any work. For instance, in a smart home, you can close the door, switch off the lights or bake the oven automatically with your mobile phone.
Businesses from multiple industries can leverage IoT applications to increase productivity, simplify business processes, improve workplace safety, reduce costs, and more.
Internet of Things (IoT) can provide bidirectional connectivity by bridging any smart device with the help of sensors, enabling real-time data transfer. Thus, IoT devices can revolutionize almost any field, starting from your home, the scope is incredible.
The constant rise of IoT devices has forced businesses worldwide to opt for an IoT system for themselves. Thus, they have started focusing on IoT app development to stay ahead of the competition.
Hence, we are here with a detailed blog explaining the Internet of Things (IoT), its components, scopes, benefits, challenges, and how to create an IoT app. Read on to get valuable insights on IoT and IoT app development.
What is the Internet of Things (IoT)?
The Internet of Things (IoT) is a relatively new technology that connects several devices into a single network. A thing in the internet of things can be an automobile with a sensor, a person with a pacemaker implant, or a farm animal with a biochip transponder. Without human intervention, one can assign any object with an Internet Protocol (IP) address and transfer data over a network.
Why Should You Invest in an IoT App for Your Business?
The IoT is one of the most innovative technologies that will revolutionize the way people live, work, and entertain themselves. Yes, the IoT market is vast, and the technology has something to offer for every industry.
The below is the pictures depicting the number IoT connected devices worldwide from 2019 to 2030 (in billions)
(Source: statista.com)
As you can observe, the number of IoT devices will only grow in the coming years. Smart homes appliances, wearable technology, connected and smart cars, and more. The list of IoT devices is endless in every industry. And all of these devices will require software. Hence, you can create an IoT mobile application and conquer the booming market.
Before learning how to develop an IoT app, let’s explore the basics of an IoT system, its key components.
Prime Components of IoT
1) Hardware
All physical systems like sensors, servers, routing devices in an IoT system will fall under hardware. Almost all IoT systems will come with sensors.
These sensors will act as measurement devices to measure various things based on the application. It can measure temperature, pressure, speed, and more.
Another known hardware in the IoT system is wearable devices. They are often electronic devices that we can wear, like smartwatches, smart glasses, etc. Even the desktop, mobile phones that can control the sensing devices will also fall under the hardware category.
2) Software
Software for an IoT system should be a cloud-based application. It can be either a web or mobile application that is ideally a dashboard to manage and control all IoT devices connected to it.
The dashboard should also collect data from sensors and display that to users. In other words, the software converts the data from devices into information suitable for human interpretation.
3) Network
The network connects different components in an IoT system together. It takes care of all data transmission from and to devices.
4) Cloud
The cloud is the crucial technology of an IoT system. Cloud eliminates the need for any physical resources for data storage.
The cloud itself processes and stores the data. Examining the high data needs of an IoT system and the restrictions of conventional storage technologies, cloud storage is the most beneficial and feasible option for an IoT system.
Optimal Industries for IoT App Development
Before investing in an IoT app for your business, you may want to understand how IoT can benefit your business. Here is the list of industries that have immense scope for IoT app development:
1) Smart Homes
IoT enables smart homes for people to enjoy better lifestyles. With IoT, all home appliances can communicate with each other without human intervention. IoT allows you to control things remotely like opening doors, managing electricity, water consumption, heating systems, etc. Thus, IoT helps people to regulate most of the day-to-day house chores amidst their hectic schedules. That, in turn, saves their time, money, and energy.
2) Healthcare
The medical industry has seen significant progress with the Internet of Things (IoT). Sensors, monitors, trackers, and wearables allowed physicians to track the patient’s health like their heart rate, glucose levels, physical activity, and more.
3) Automotive Industries
The IoT can change the way people drive. The Internet of Vehicles (IoV) allows automobiles to connect with the internet and communicate with one another, enabling a system of connected autonomous cars. With sensors equipped, cars can come with better route management and a smart parking system.
4) Logistics
IoT plays an integral role in the logistics field, undoubtedly. With RFID tags, GPS trackers, antennas, one can track and monitor the location and movement of the transported goods remotely.
5) Retail
IoT has enhanced the shopping experience of the customers. Amazon Go is one such example of what IoT can do in the retail industry. Automatic checkout enables improved customer experiences. IoT can track the customer’s actions, boost their shopping experiences and make efficient physical stores.
6) Smart Farming
The agricultural industry will boom no matter what as the demand for food never comes down. IoT devices can help monitor various environmental conditions like temperature, humidity, soil quality and detect soil contaminations. IoT also enables the real-time monitoring of livestock and crops. Thus, IoT ensures better farming with reduced labor and costs.
Cardinal Features of IoT App Development
Understanding the benefits and challenges of IoT app development will allow you to make better business decisions. So, here is a list of benefits and challenges that come along with IoT app development.
Benefits of IoT App Development
1) Cost-effectiveness
IoT devices can bring prompt solutions to your day-to-day business operations, allowing companies to reduce costs. For instance, an automated equipment monitoring system can help predict any possible defects and intimate you, minimizing downtown.
2) Customer Behavior Insights
IoT devices can help you gather data on user behavior. As a business owner, you can use a combination of tools to monitor customer behavior on a website, social media and provide the most appropriate products/services.
3) Improved Productivity
IoT apps can enhance the productivity of both individuals and companies by optimizing various house chores as well as business operations. You can automate regular house tasks to vital business activities by leveraging IoT applications.
4) Enhanced Work Safety
Since IoT applications are equipped with sensors, they can monitor real-time data, identifying any potential threats in high-risk work environments. Thus, they can prevent any risks, ensuring workplace safety for all employees.
5) Better Flexibility
IoT devices enable us to stay connected always. They offer the flexibility to stay connected to multiple devices with streamlined control. It is indeed a tremendous benefit that you can utilize in any industry.
Challenges of IoT App Development
The IoT app development comes with various challenges that you need to overcome during the development phase. Here is a list of challenges that you have to stay prepared for:
1) Security
Security is one of the biggest challenges that you will face with IoT development. Interconnected devices come with many entry points. The hackers can exploit to gain access to the user’s location or any other confidential data.
2) Credibility
IoT devices need a stable internet connection for their operations. So, when the internet connection is lost, you will risk the entire system going offline. Thus, you will have to ensure that the IoT can offer basic features even in offline mode.
3) Privacy
You will have to encrypt any data stored and transmitted by IoT devices to protect it from leaks. In case of storing, processing, and transmitting unencrypted data will make it vulnerable to data breaches.
4) Inconsistent Hardware
One of the most common challenges you may face with IoT app development is the inconsistency of hardware in the IoT system. Every hardware manufacturer has its standards, security, and features.
In an IoT system, it creates an issue. You cannot connect devices from several vendors with each other. Thus, IoT system users have to use devices from a single company to overcome this technical inconsistency. Else, your IoT application may not connect with all the devices.
How to Create an IoT Application?
An IoT application comprises various components, as we have seen earlier in this blog. Hence, creating an IoT application demands you to follow specific steps.
1) Choose the Hardware
Hardware is a crucial component of an IoT system. Hence picking reliable hardware will enable you with the most accurate data. Since hardware comes at the first layer of the hierarchy, if you don't choose the right one, you will risk the success of the entire IoT app.
So, always go for a reliable manufacturer. Pick the reputed company that guarantees quality and accuracy.
2) Select the Industry
Though IoT applications can benefit multiple industries, it is always wise to laser-focus on a single field. Thus, you can provide customized solutions through your IoT app.
Moreover, when you focus on one specific industry, marketing your app also becomes easier. The more personalized and innovative services you offer, customers will pick your app over your competitors.
3) Go for the Appropriate Platform
Nevertheless, choosing the right platforms is a crucial factor in IoT application development. You can leverage reliable platforms that support IoT app development.
HomeKit, Android Things, Azure IoT Suite, IBM Watson, and Oracle IoT are some known IoT app development platforms. It is highly crucial to go for the appropriate platform as an IoT system may have multiple devices from several vendors that may cause technical inconsistencies. The above-said platforms can unify these numerous devices and offer a consistent connection.
4) Determine Scalability and Performance
Your IoT application should perform at a relatively high speed. Else it may fail, as most IoT systems involve the constant sharing of data in real-time. Even a slight lag can affect its performance.
For instance, if you are developing a connected car, you can’t risk a second’s lag as the consequences could be fatal. However, if your IoT app focuses on other functions, a little lag will not be a problem. So, it entirely depends on your needs.
However, it is always optimal to define the scalability and speed in advance. Evaluate what happens if you plan to add more devices or deal with more data in your IoT system? Will your IoT perform well if you increase users.
Defining the speed and scalability well in advance will enable you to come up with a more competent IoT app.
5) Ensure Application Security
As an IoT system involves many devices connected to the internet, it is prone to security threats. Thus, it is inevitable to define and implement the security policies involved in IoT app development.
You have to work on the device’s firmware security and also data security. As most data concerned with IoT systems are sensitive, any threat could lead to drastic outcomes.
Moreover, since the IoT system comes with multiple entry points, ensuring security is more complicated than regular applications. So, keep application security as your high priority.
Cost of Developing an IoT App
The cost of an IoT app development depends on several factors like:
- ♦ Your app’s features
- ♦ Technology used
- ♦ Third-party services involved
- ♦ Developer’s hourly rate
- ♦ Developer’s location
The developer’s location has the most influence on your IoT app development cost. For instance, an IoT app may cost around $100,000 to develop in North America, while it may cost only $24,000 if you outsource it to Asian countries.
You can safely assume that the price for any standard IoT application starts at $15,000 and reaches up to anywhere around $25000. A more advanced project with complex features may cost you around $30,000 to $80,000, respectively.
Final Thoughts
Are you a business owner looking forward to taking your business to the next level? You may belong to any industry, like healthcare, agriculture, home appliances, manufacturing, logistics, or more. The internet of Things (IoT) has something in store for everyone regardless of the industry.
The IoT devices can allow people to live and work smarter and take charge of their lives and businesses for the better. Thus, more and more brands have already started leveraging IoT for automating their business processes. You can also leverage this innovative technology to scale up your business.
Now, IoT app development demands in-depth knowledge, experience, and technical expertise. Hence, you need to opt for a reputed mobile app development company that can deliver high-quality applications.
At Cypherox Technologies, our team of experts has intense experience in crafting mobile applications for various niches. You can rely on them for your IoT app development, and they can guide you with valuable insights from their extensive experience in app development. Reach us for your IoT app development now.
