For the ones involved in the IoT space, it feels as though not a day goes past without the launch of yet another IoT platform, assuring a seamless conduit between connected devices and user applications.
With so many new IoT startups emerging, it is quite evident that Internet of Things (IoT) is currently “the big thing” that technology innovators are eyeing at. Equally important, more and more companies are rolling in and appending their services to IoT domain. This makes it all the more challenging for businesses to look for an ideal IoT app developer/vendor to meet their needs.
While the list of IoT vendors is rapidly growing, the vital decision of laying the hands on IoT platform becomes arduous. Hence, to drill down the stress quotient, here’s a list of key factors that should be considered when choosing the ideal IoT platform.
So how do you opt for the best IoT platform?
There’s a key difference between industrial IoT platforms and consumer IoT platforms. So firstly, you need to consider if your application is industrial (asset management, oil & gas), or meant for consumers (wearables or smart home applications). Industrial IoT platforms and consumer IoT platforms can vary significantly due to different requirements. However, despite the considerable variance in IoT applications, there are quite a few common elements that are critical to be considered when evaluating the best IoT platform.
1) Comprehensive solution provider
One of the major challenges that the IoT developers are facing is to provide a comprehensive solution. Most developers are offering partial solutions in the form of either a connectivity management platform, or a data storage platform. While a few only offer application enablement services. Neither of this meets the requirements of a company/client who’s looking out for a complete IoT solution.
The more the data outspreads, the more difficult it gets to handle it. When organizations can handle larger amounts of data, then executing machine learning algorithms can help derive better business intelligence, in turn helping in making better decisions. Hence, scalability plays an important role. In order to execute machine learning algorithms to large amounts of data, you’ll first have to identify an IoT vendor who can help in getting that data. A scalable IoT platform enables in connecting with millions of devices, which have different technological needs and delivers insights using data without compromising on the quality and efficiency.
3) Pricing model
The IoT platform provider should practice transparency in terms of the pricing policy. Beware of those vendors who offer low rates as an introductory discount and then increase it as soon as you sign up. Also, what matters is how are you going to be selling it? If you’re going to follow a subscription model, then you can cover the costs in subscription pricing. However, if you’re into selling hardware, then you can opt for a platform that offers a license in order to wrap that into the development costs.
4) Developer’s expertise
Prior to opting for a specific IoT platform, ensure that you’re well equipped with developers who adapt to the technology upgradation. Take into due consideration their expertise and the degree they can go up to in order to understand and fill that technology gap because at some point or the other, you’d require an in-house expert to look into the implementation of the selected platform.
5) Suitability basis your business model
There are many vendors offering IoT-based services on the subscription model, which enables you to examine the potential of the services to ensure it works well. So, if you are running on a limited budget, you can opt for this model rather than investing a huge amount at one-go. Once you understand its potential and whether it aligns with your business model, you can choose to go ahead with the comprehensive plan.
With so many developments in the IoT domain, IoT is likely to refine the way we interact with one another and the way the global economy functions. However, it is perhaps the right time to invest and get a hold over the developments that are expected to take control of the future.