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The Internet of Things (IoT) is one of the most exponentially growing technologies used to accelerate a digital transformation and deliver a wealth of bespoke solutions. Spurred by potential benefits, the world today is more connected than ever. Even amidst the global COVID-19 pandemic crisis, the widespread adoption of IoT Solutions Development has been witnessed across a clear majority of organizations.
It looks like COVID-19 has amplified the essential role of the IoT applications and new use cases while accelerating new revenue growth opportunities for organizations aiming to
- achieve a greater level of digital excellence and business continuity
- improve efficiencies and reduce downtime
- Innovate existing business workflows and systems
- monetise IoT through revenue-generating products
Many emerging IoT devices and mission-critical IoT apps are already becoming an indispensable part of our lives in more ways than we can imagine. The Machine-to-Man connectivity through the Internet of Things technology is revolutionizing everything – right from the consumer sectors (retail, healthcare, and services) to the industrial sectors (transportation, water, oil and gas, agriculture, and manufacturing) – beyond the “wow” factor.
IoT Development Company: The Rise of Internet of Things
The Internet of Things can be explained as a breakthrough advancement in connected information technology. It works by developing a network of billions of physical devices embedded with sensors, software, transducers, and other technologies to serve the purpose of collecting and exchanging data from multiple sources over the internet. Over the past few years, IoT adoption rates have risen more exponentially than expected. As per the reports, the number of active IoT-connected devices globally is expected to reach 30.9 billion by 2025. With rapid growth across the world, IoT is paving a way towards a better-connected future by adding a level of digital intelligence to physical devices while making systems smarter and more responsive.
Top IoT Pilot Implementation Pitfalls
Realizing the Internet of Things’ potential to reduce costs and maximize business continuity, many organizations have started to embrace the IoT. Product development, system integration, IoT managed services, PCB fabrication support, mission-critical application development, and product engineering services are the top considerations for making significant investments in an IoT App development company.
Indeed, IoT enables a faster proliferation of applications, but there are also some IoT pilot implementation pitfalls that many companies fail to predict. As a result, they are not able to fully leverage the pilot IoT investments and end up dealing with them.
Let’s delve deeper into some common IoT implementation challenges hindering the impact of organization’s pilot investments and paralyzing them to kick off their digital journey:
- Running in isolation: This happens when companies run their IoT implementation projects in a complete isolation phase for each business unit. They get trapped into a poor business execution model with too much focus on technology over the right business goals. They lack clarity on return on investments (ROIs) and cannot get a bigger picture of the relevant business use cases. As a result, they struggle to articulate the correct business value from their IoT PoC’s investment and consume a lot of budgets.
- Lack of efficient analytical capabilities: Many organisations are unable to leverage the data collected using IoT applications. They fail to harness the potential IoT benefits due to a lack of strong technical competence, user knowledge and awareness, and efficient analytical capabilities. Another primary reason why IoT projects fail to come to fruition is when companies cannot find the right IoT platform and tools.
- Vertical integration strategy with IoT platforms: Many organisations struggle to choose between bespoke IoT solutions development and off-the-shelf solution to address their evolving business needs. Often, companies end up investing aggressively in short-term initiatives by getting developed a software solution by scratch. They fail to understand that vertical integration strategy is not always an excellent choice to proceed and make a high operational cost.
- Lack of industry governance on standards and security: The IoT technology and its Applications are still in an evolving phase that makes it very imperative for companies to stay agile towards industry governance on standards and security. Many organisations stuck on the runway struggle to reap the benefits of IoT solutions because they lack mindful planning for enterprise-wide expansion. They neglect many important functional factors such as data governance, IoT security assessments and requirements, enterprise alignment on pilot strategy, technology infrastructure, and standard IoT protocols.
IoT App development company: The Way Forward
The Internet of Things as a breakthrough technology has been maturing fast while responding to many significant disruptions. However, this transformative technology (like any other technology advancement) does come with many complexities. Hiring an IoT Development Company can be a game-changing experience to solve challenges pertaining to the lack of value realization from the ongoing IoT and IIoT experiments rapidly and thoughtfully. A dedicated IoT partner helps unlock a wide-open plethora of possibilities by delivering bespoke IoT development solutions that are agile, built right, and ready to scale as per the rapidly evolving needs.
By Aniket Kumar
who is the Business Analyst of Kellton Tech – a renowned digital transformation provider company in the UK. He often writes on new technovations and industry trends to help people make more aware of possibilities for technology in improving business growth.
Member since November, 2021
View all the articles of Aniket Kumar.
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