As the speed of technological innovation has increased, the Internet of Things (IoT) has gained tremendous momentum. IoT devices worldwide are projected to number 30.9 billion units by 2025, which is a huge jump from 2021. The proliferation of IoT has had a dramatic impact on daily life. From your smart coffee maker to smart lights, IoT controls a lot of our routines and data. Nor does it end on a personal level. Almost every industry uses IoT devices to improve efficiency, productivity, safety, resource conservation, and security. Custom IoT software will become a necessity for insights into data analytics.
The vast network of interconnected devices collects, sends, and exchanges huge amounts of data across networks. Widespread IoT solutions power our “smart” homes, phones, cars, wearable devices, mobile e-commerce, smart grids, and industrial IoT. The sky is the limit in IoT software innovation.
What is custom IoT software?
Industries across all sectors recognize the tremendous value of using IoT. IoT solutions streamline operations and enable agile business models. According GlobeData, IoT market revenue is expected to reach $1 trillion globally by 2024. Therefore, there is a growing demand for IoT-oriented software engineering. Healthcare, retail, automotive, manufacturing, financial, hospitality, and many other industries benefit from the adoption of IoT solutions and software.
Custom IoT software is invaluable in providing visibility and insight into products using metrics and data analytics. Next-generation IoT software can increase ROI while streamlining operations and delivering an enhanced customer experience with intuitive GUIs. Derived data analytics and monitoring combine to improve safety, improve healthcare delivery, monitor critical utility infrastructure, and much more. According to Gigabit, companies recognize the need for custom IoT software and could invest up to $15 trillion in IoT software solutions by 2025. Well-designed IoT software maximizes a company’s investments and growth potential.
Case study for custom software
A company that manufactures fixed and portable signs and speed enforcement message boards needed a way to help its customers track physical assets, manage sign messages, and get diagnostic information from the boards for efficient management. Previously, technicians manually logged into the message board, which could be placed on highways or busy intersections, for updates and management. They needed a more secure and efficient solution and turned to IoT.
Their chosen IoT software developer designed a custom IoT wearable message sign system. This is a remote diagnostics cloud-based solution that manages sensors and asset data remotely. The company keeps track of all your signs and makes it easy to update them for more proactive, more secure control. This scalable and intuitive system is adding tremendous value and increasing revenue for the signage business.
Three Potential Challenges
While the transformative value of IoT is undeniable, these billions of devices represent an ever-expanding threat. Cyber attacks pose significant threats to personal data. With more and more of these connected devices entering the market, the potential leaks are growing. Standard practices only do so much to secure what is essentially a global tsunami of data in transit and storage. There are real challenges and features to consider when investing in custom IoT software development. Let’s take a look at three of these challenges:
The astronomical number of user and unmanned devices creates growing security concerns. IoT software solutions need capabilities like antivirus, multi-factor authentication, network access security, and SSL/TSL encryption to mitigate the growing threat landscape.
#2: OS Considerations
IoT devices tend to have lower power thresholds and smaller memory capacities. The operating system must be specifically tailored to the power and memory capabilities of the devices, and the requirements for their functionality.
#3: Choose gateways
Carefully consider the network and interface specifications, memory capacity, and power rating. Gateways are the key to connectivity. An IoT gateway bridges the communication gap between devices, sensors, equipment, systems, and the cloud, ensuring that generated data can safely travel from the edge to the cloud. Different devices may have different applications and connectivity protocols, and different power profiles.
Weigh risk against return value
The return value of IoT will have far-reaching impacts. Time savings, financial return, resource preservation, security concerns, convenience, and user satisfaction all play a role in true ROI. IoT has changed the way we live and work for the better. But today’s security, privacy ramifications, and development challenges must be carefully considered. Despite the challenges, IoT custom software development will continue its rapid advance and the future potential will be one of endless possibilities.