April 2021 – Acoustic IoT Observatory

The two most common concerns for companies getting into IoT are the cost of initial software development (or “integration”) and ongoing expenses after devices have been deployed. As key stakeholders ponder over the ever-present build vs buy dilemma, the ones who lean towards building often tend to significantly underestimate both.

So what goes into IoT product development and maintenance? What kind of budgets and timelines should you as an entrepreneur plan for if you choose to invest in building your own software rather than choosing one of the available platform solutions? We’ll try to break it down for you in this quick overview.

This article is specifically focused on IoT software; we can talk about hardware in another post. We can also spend a whole new article talking about the true hidden costs of integrating IoT into business operations. E.g., preparing your organization, getting all of the right departments to use the new tech, customer support needs you never thought about, etc. If you would like to hear about that, put it in the comments section.

Software Components and Expertise Required

Let’s take a look at a minimum set of software products you would need today to run a connected product, business or service.

Firmware

Firmware is software that is uploaded and then runs on the hardware. It provides a low-level control for the device’s specific logic. Networks and connectivity are a part of firmware development and crucial for any IoT implementation.

Expertise required: embedded development: C, C++

When you work with electronics, firmware development is the key piece of software, and it is very beneficial to have your own engineering team working on it. Firmware development can be split into two parts: writing code that runs the business logic and controls the device’s electric circuit and code that manages the connectivity and data transfer to/from the cloud.

You would also need resources to test the firmware. Count in another QA specialist or trust your engineers. An important element to consider is integrating firmware over-the-air updates (OTA or FOTA) from the very beginning. It can mitigate a lot of issues but can also create a lot of trouble when executed poorly.

FOTA technology allows manufacturers to remotely install new software, release patches and bug fixes, or update features and services after the device has been deployed to the jobsite, home, or office. FOTA involves recurring costs, mostly on the Cloud side. Often this functionality is covered by IoT platforms.

As with any other software development, in a long-term perspective, expect fixing bugs, releasing new versions, dealing with memory leaks, providing technical support, etc. The major ongoing expenses you would face are human resources to perform all of these tasks.

Once your company collects enough data for analysis, another piece could become important: optimized ML models that can run on the device. For such development, you would need a data scientist familiar with embedded tech experience.

Cloud

Cloud is any service made available to users on-demand via the Internet from a cloud computing provider’s servers. The IoT servers have different purposes, like administration, monitoring, data gathering, and analysis.

Expertise required: Backend development based on a choice of technology, big data processing, DevOps (maintenance and support).

You can develop your own server application or use services like AWS, Azure and build on top of that. If you decide to build your own backend, you would need highly skilled engineers with a deep understanding of the solution chosen and a support team to maintain the system once deployed.

Count in at least one DevOps engineer to keep an eye on the system when in production.

DevOps

Recurring costs, apart from salaries, are cloud hosting, domain names rent, SSL/tls certificates purchase and updates, storage, and backups.

Depending on whether you choose to develop your own backend or stick to a ready-to-use solution, the initial investment range will vary. However, running a cloud server will always involve recurring costs and will only increase once your business scales up.

Applications

Once the device is connected, in today’s reality, you would need a user interface to interact with the device or service, configure it, control and monitor remotely, visualize processes, etc. It can be a touch control, a mobile app, a web app, a voice app (e.g., Amazon Alexa skill), etc.

Working with deployed connected products usually requires two different apps: customer-facing applications and applications for internal company use (device management, analytics, device health tracking, data traffic).

Expertise required: design thinking, product ideation, UX, visual design, mobile, and front-end development.

Application development ideally starts early when a company defines a business case, common use-cases, user experience, and product lifecycle in general. It’s an iterative process similar to any software development. Generally, it can be split into phases: requirements, UX (user experience) + visual design, web and mobile application development, delivery, support.

Note that a really high bar has been set for great user experience, design, and friendly apps during recent years.

Any software development is an ongoing process. While your product is live, you will be facing bug fixing, optimization issues, support questions, redesign requests, new features development, etc.

Data Management and Maintenance costs

In this term, we have to separate the hosting and maintenance costs. The hosting cost is more affordable in the long run and helps to eliminate multiple risks compared to the cost of having a team maintain a cloud on their own.

Timeline and Budget

I’ve been working in software development for over 20 years, and I don’t believe that any high-quality software can be developed in less than 9 months. Add a time buffer for bug fixing, requirements, and documentation writing, and you get a 12 month period – a more realistic timeframe. If you disagree, I would love to hear your thoughts in the comments.

Building IoT Software

As you can see, building your own IoT software from scratch is not a cheap endeavor, especially with a team based in the USA. If you have all of the right people on board and have a bulletproof ROI model for your IoT investment – go for it, build in-house. But if you are an OEM whose main focus remains on their core products and you care about optimizing costs and your time to market – then you are probably better off leveraging a solid IoT platform. Those folks have already spent those years (and in most cases, millions) building out the software you need and testing it out with real clients, in real-world conditions, with all of the priceless learnings that come with that.

Source www.iotforall.com

From voice assistants to smart home devices, the Internet of Things is rapidly changing both how we live and how we work. With a projected 83 billion IoT connections by 2024, this trend doesn’t seem to be slowing down any time soon.

As the IoT continues to grow and add new functionalities, it’s important to understand what’s currently available and how these devices can transform life for consumers and businesses. Below, 15 tech experts from Forbes Technology Council discuss the best IoT devices and applications on the market right now and why each is so valuable.

1. Touchless Transaction Devices

The best IoT devices include those that enable touchless transactions, such as contactless payment and data collection and tracking devices. From a standpoint of cleanliness, these include any devices that reduce the transmission of germs and help to end the pandemic. Additionally, in the work-from-home era, home automation has become extremely popular, which also reduces contact transmission in the home. – Kevin Beasley, VAI

2. Personal Fitness Devices

The best IoT devices are those that support personal fitness, which has become a leading issue in our current time. The ability to go to health clubs has been diminished by regulations, and many individuals choose to avoid it for health reasons. What has kept me and others sane through this period is the Peloton bike. – Thomas McElroy, Level-1 Global Solutions, LLC

3. Ingestible Diagnostic Devices

Myriad ingestible medical devices are coming to market with multiple different use cases. The ability to ingest a “pill” that then pulls data from inside your body and delivers that information back to deep learning frameworks is huge. Forget wearable tech—ingestible tech is something that can replace that market. – Damian Ehrlicher, Protected IT

4. Health Monitors

As an avid fitness geek and cyclist (and overall geek), I like to monitor everything I can about how I am feeling and recovering—both more important than ever in the era of Covid-19. Devices such as WHOOP and the Oura Ring see patterns, understand our health and compare data with millions of users and athletes around the world. I have been impressed by how they’re able to detect Covid-19 early and improve recovery. – Jason Carolan, Flexential

5. CGM Devices

As a Type 1 diabetic, seeing continuous glucose monitoring devices moving to support the IoT is a huge advance. The benefits of delivering seamless remote monitoring of blood glucose for parents when their children are out or sending alerts directly to medical professionals are huge. Given the potential size of the market and the effect these devices can have on well-being, they top my list. – Al Kingsley, NetSupport Limited

6. Infrastructure IoT

The best IoT devices on the market are the ones we don’t ever see. The critical infrastructure all around us that keeps the cars moving through your city and the water pumping to your house are performing invaluable tasks for us every day, and most of us are totally unaware. Consumer IoT development is exciting, but infrastructure IoT is where the real magic happens. – Dick Wilkinson, New Mexico Supreme Court

6. Fleet Management Software

The most interesting innovation happening in IoT right now is not with the devices themselves—which are mostly sensors and processors—but instead with fleet management and monitoring software. Being able to maintain the health and security of multiple generations of both hardware and software via a set of low-cost devices that are sent out into the field is huge. – Joaquin Lippincott, Metal Toad

7. Sensor Hubs

The best IoT devices incorporate the intelligence required to both sense key parameters of the real world that surrounds them and convey vital telemetry upstream for analytics that maximizes situational awareness. For example, sensor hubs on trucks can provide fleet dispatchers with information about the engine, cargo and even the driver—all essential to ensuring on-time deliveries. – William Bain, ScaleOut Software, Inc.

8. Click Boards

There are a lot of innovative IoT devices on the market today, and the possibilities are endless. However, particularly beneficial is the vast click board portfolio from MikroElektronika, which includes over 1,000 devices. These click boards have become the critical starting point for every IoT project and are a key component of the IoT ecosystem. – Wolfgang Thieme, BehrTech

9. Firewalls

By far, the most important IoT device for businesses is the network firewall you implement to protect, track and control your IoT devices and your network. Put all your IoT devices on a common, separate Wi-Fi network. Most “next-gen” firewalls have threat detection and intrusion prevention. Monitor those reports and talk to your IT department to interpret them. IoT devices attempt to discover the rest of your network and routinely send data back to the manufacturer. – Jim Nekos, Edge Technology Group

10. Climate Control Devices

Climate change is probably the most critical challenge facing humanity today. States and countries have been experiencing more frequent and longer power outages due to harsher weather conditions and record-setting temperatures. The IoT can help to tackle climate change through connected devices such as the Nest thermostat, which can play a pivotal role in managing peak demand and grid stability. – Ahmad (Al) Fares, Celitech – Cellular Data Platform

11. Voice Assistants

The best IoT devices out there are voice assistants. In the future, there will be no keyboards, no buttons, no touch screens and so on for anything from TVs to cars and more—it will all be voice-driven. Even though it is taking a long time to get there, we are closer than ever to that being a reality. Imagine walking around the world with no devices on you and being able to ask for what you need. – Mercedes Soria, Knightscope

12. iPhone 12

The iPhone 12, with built-in LiDAR capabilities, is the best device on the market right now. This device takes us one step closer to creating a digital copy of our world. The inbuilt LiDAR technology allows limitless possibilities for mass augmented reality integration, which will allow us to overlay and enhance the real world with digital capabilities. – Alex Dzyuba, Lucid Reality Labs

13. Smartwatches

For an IoT device to demonstrate its value, it must promise convenience while having the ability to make decisions when its owner can’t. A smartwatch not only provides conveniences such as communication but can also act if the user is unable to—for example, detecting a fall, heart arrhythmia and other issues. As the safety, security and insurance ecosystem grows, this IoT device will become even more instrumental. The next step is the connected car. – Spiros Liolis, Micro Focus

14. Tile Trackers And SmartTags

Tracking devices such as Tile Trackers and SmartTags are amazing. With the introduction of the sticker versions, their usability has greatly increased, and I believe the size will go down even further in the future. Add to that global, low-cost satellite connectivity from companies such as Swarm, and we are looking at never losing anything again. – Vikram Joshi, pulsd

15. The Combination Of Personalized IoT Devices Working Together

In recent decades, we have experienced a transition from mass production to mass personalization. How do we personalize products and services at scale? The answer is with real-time information coming from a secure yet diverse set of IoT devices—cars, TVs, refrigerators, thermostats, medical devices and so on. The IoT of the future is not a single device but a highly personalized platform. – Augusto Perazzo, Me in Te

Source: Forbes.es

Acoustic IoT Observatory

Month: April 2021

The real cost to develop an IoT product