Meeting the Challenges of IoT Development
The global market for the Internet of things (IoT) has grown to 212 billion U.S. dollars in size in 2019, and forecasts suggest that this figure will reach 1.6 trillion by 2025.
IoT software development is transforming industries and business processes. IoT offers multiple benefits to companies. Most modern businesses are already taking advantage of IoT to automate and simplify their daily tasks. Companies that have implemented IoT are already seeing the benefits of using the technology like lower operating costs, additional revenue streams, increased productivity, improved business processes, enhanced customer experience, and easier expansion to new markets.
IoT allows creating an ecosystem that links many systems to ensure greater performance and improved and efficient data analysis that can help in the development of the products and services. The rapid advancement of IoT has created a new evolution of mobile phones, smart home appliances, and other embedded systems that are all connected to the internet. These devices can obtain useful information and analyze it to help organizations make timely and better decisions. It is rapidly transforming companies in many ways, in the ways we never expected before.
However, there’s something left unsaid. Although IoT provides a multitude of opportunities, implementing the technology is not an easy task. Many companies underestimate the complexity of IoT. The market requires high-quality, secure, robust, scalable, and user-friendly solutions, and IoT development teams have to reassess their workflows to take everything into account. In fact, according to the Cisco survey, 75 percent of IoT startups fail to succeed.
A lack of internal expertise and improper IoT integration are among the top reasons why projects fail. Since IoT covers a broad variety of domains such as embedded software development, application development, analytics, hardware development, etc. there is a serious lack of relevant IoT skills, which in turn decelerates IoT development. In addition, there are other challenges that impede IoT growth, such as security, data collection and processing. Here are some of the common pitfalls developers run into during the IoT development process.