Whichever tech field you choose, IoT apps will lead the list. Its main objective is to connect the whole world. Moreover, the internet of things has helped people connect with the devices they regularly use, such as smartphones, home gadgets, vehicles, and so on.
Here is a list of statistics that will take you to the evolution of IoT:
1. According to International Data Corporation reports, the global IoT market will cross the mark of USD 1.1 trillion by the end of 2023.
2. Due to higher demand, IoT devices are expected to cross the mark of 14.4 billion active installations in 2023, 55% higher from 2020.
3. The US has the highest number of IoT devices, with more than 8.4 billion devices actively working by the end of 2023.
4. The 5G technology will fuel the growth of IoT technology as the 5G cellular users will reach the mark of 1.9 billion by 2024.
5. Approximately 10% of the VC funding is related to IoT advancements.
The recent market is witnessing a considerable demand for the IoT app, which has shown some outstanding positive results.
This blog will help in understanding the importance of IoT application development and what are the costs of it. Keep reading to know more.
Why Develop an IoT App for Your Business?
There are several reasons to develop an IoT app for your business. Here are some of them:
Smart devices with the help of wireless technology can automate the process, making it easy and time-saving. Businesses can automate tasks like managing production, monitoring the performance of employees, controlling inventory, tracking data, and more.
2. Data Analysis
IoT devices capture a large amount of data and help businesses to analyze that data and make informed decisions. Moreover, IoT solutions can also reduce expenses and increase efficiency. Using IoT devices, it becomes easier for enterprises to track customer data and develop better strategies for customer engagement.
3. Increased Customer Experience
IoT solutions help to provide a better customer experience. For example, connecting mobile devices with smart appliances like refrigerators and ovens allow customers to control these appliances remotely. This increases the convenience factor, which enhances customer satisfaction.
How Much Does it Cost to Develop an IoT Application?
The development cost of an IoT app is around $20,000 to $50,000, depending on the features and complexity. To understand more about the costing process of an IoT application, take a look at the following:
Factors Affecting the Cost of IoT Application
Various factors contribute to the app’s cost, like the app’s design, infrastructure, hardware, etc. to get detailed information, refer to the factors mentioned in detail.
The primary factor affecting the cost of IoT apps is the app’s complexity. Some IoT apps are quite simple and can only connect to a limited number of devices. On the other hand, some IoT applications could be connected to many devices. These allotments in an application increase or decrease the complexity which further affects the cost.
2. Number of Features
The more features, the more the cost of the app will be. The features of an application play a crucial role while deciding the cost of the app. So if someone is looking for pocket-friendly IoT App Development, they should curb the design and features they want to add.
3. Development Time
The development cost also depends on the time required to build the app. It may vary as per the days or months needed to complete the development process. If the development time will increase, the cost of production will also be higher.
4. Infrastructure of IoT App
Any IoT application has an infrastructure that consists of three major elements. All these elements individually and together contribute to IoT mobile app development costs.
The first component is Network; the users can only avail of IoT applications if they have a secure and error-free network. To ensure the IoT application you are developing, invest in secure networking. While doing this, remember that a reasonable application prefers to get connected to short-range wireless networks.
Secondly, Middleware; third-party integration has become an undeniable aspect of mobile applications. The middleware component acts as a bridge between IoT devices and third-party integration. If you want to make their app stable, then third-party integration is mandatory.
Thirdly Cloud-Based Storage; when investing in IoT apps, choose cloud-based security over any other. Cloud-based systems will provide the best data security, so investing in them will be your best decision during IoT application development.
How Long Does It Take to Build an IoT App?
The fact that how complicated your app is will determine the time taken to build the internet of things application. Factors like design, niche or non-standard release platform also determine the development time. Depending on the factors & complexity of an IoT application, the development time varies. The development of an IoT app takes approximately 16 to 18 months.
Development Process of an IoT App
There are 6 stages that our highly qualified team of developers follow to build IoT apps.
Analysis of the app- It is the stage where an IoT application development company like us analyzes the features and scopes that will make the IoT app unique from the others in the market.
Modeling of the application- As the word modeling suggests, in this stage, the IoT developers will model the app and create an infrastructure to meet their client’s demands. As an app owner, you will get an idea of how your app is going to look like when it is when the working process is done.
Prototyping the application- It is one of the essential stages of IoT application development. In this stage, the developers will create a working model of your app so that you can get a hint of how your IoT application will look in reality. A working prototype will help you make app changes according to your requirements.
Testing the application- The next stage is extensive testing of the IoT app that will test multiple functionalities and integrations. Quality assurance is a crucial step that ensures the app is working seamlessly without any issues. Testing can be done both manually and through various tools creating different test cases and real-life scenarios.
Deployment- When the developers and the clients are satisfied with the app after removing all the bugs, it is finally deployed by our experts on the preferred server of the client.
Maintenance- To sustain customers, the thing that needs to be done is to pay attention to the maintenance of the app. As a top IoT Application development company, We provide 24/7 customer support and maintenance services to ensure your app delivers a seamless experience. The app developers will assist you at every stage whenever you face any hindrance.
Will Auxano Global Services be your One-stop Destination?
Auxano Global Services is an IoT app development company that deals with software, website, gaming development, etc. We have a team of professionals who are affluent in coding and will develop an app that will suit your needs. We provide development services that are robust, cost-effective, and exceptionally simple to understand.
We have working professionals who are good at communicative skills, are experienced and have a detailed understanding of your needs.
We are well knowledgeable about the trending market and will help you curate an app that will help you meet your business goals in the shortest span of time.
With people becoming increasingly tech-savvy daily, the dependence on IoT applications is increasing. Everybody has got the taste of the modern lifestyle and become dependent on modern-day living.
There are thousands and thousands of IoT applications in the market. If you want to make something that will stand out in the crowd, you need the help of experienced IoT developers like AGS.
Now that you have a clear idea about the cost and the factors that will affect the cost of developing an IoT application, Contact our experts to start your journey!
Frequently Asked Questions
1. How Much Does It Cost To Build an IoT App?
An IoT application development costs somewhere between $20,000 to $50,000, and the prices may go down or up depending on the features you add to the application. If you want to know the exact price feel free to contact our professional today.
2. How will IoT apps help benefit my business?
IoT applications can help businesses to monitor the functioning of their systems, provide better customer service and insights into consumer behavior, and optimize their processes. It can also help businesses increase their productivity and create a safer working environment.
3. Which industries can benefit from the use of IoT applications?
IoT applications can be used in almost any industry, from agriculture and automotive to healthcare and retail. IoT applications can be used to monitor and control devices, collect data, and provide valuable insights.
4. What are the cost factors for IoT app development?
The cost of developing an IoT application can depend on the complexity of features, platforms, hardware involvement, the experience of developers, and future scalability.