Cost of IoT

| Updated on March 27, 2024

Many business owners or ordinary residents of apartments, and private houses, are not the least afraid to get involved with the latest technologies of the Internet of Things, which make life easier and allow full control over any area of ​​the company’s operations. These precautions are related to what people think about the Cost of IoT, namely that such advanced technology is very expensive. They are partly right, but if you rationalize any decision and discard unnecessary options, IoT can come to every office, every factory, every house, and every city. Our company will be happy to help in solving this problem.

What Parameters Can Affect the Cost of the Internet of Things?

The cost of software based on IoT technology can be affected by the following parameters, which are taken into account in the terms of reference when each potential customer applies:

  • The main factor that determines the price is the use of standard technologies or the need for individual developments. This significantly affects the time spent by programmers on the formation of architecture, main pages, filling content, setting up basic functions, and other parameters.
  • The number of sensors, scanners, cameras, and other receiving devices that are installed on physical objects to obtain information about their status, health, or to manage a business process.
  • The type of communication that must be provided for the successful transfer of data from sensors to actuators. There are various types of connections, ranging from wired, via an Ethernet cable, to advanced Bluetooth or Wi-Fi technologies that allow you to receive and process data from anywhere in the world.
  • Cloud storage size. Nowadays, almost no application based on IoT technology can do without storing the personal data of users. This requires remote databases that have a decentralized program code and differ in the volume of free clusters, and storing user information in each of them costs a certain amount of money.
  • Availability and quality of a firewall, anti-virus programs, and other levels of protection of personal data of users to prevent leakage, and data theft, as well as to reduce the risk of cyberattacks.
  • Category of software architecture, which determines the possibility of defragmenting the structure for subsequent scaling, as well as the possibility of system maintainability, by replacing one cell of the system, without the need to restart the entire program.
  • The need to install a mobile application for reading the program on a smartphone or tablet to send a command to the executive devices, or to process the data of registered users.

The uniqueness of working with us lies in the fact that we always brainstorm with the whole team. based on the principles of live horizontal business process management, we study the features and specifics of the customer’s business, and also offer the most rational and cost-effective models of interaction for the implementation of information technology in all areas of control and management.

What do We Take into Account in Our Company When Estimating the Development and Implementation of IoT Applications?

When a customer contacts our company, we are not able to immediately name the cost of our services, because all works differ in individual characteristics. At the same time, we form the core of the task, compare it with the most suitable standard solutions in the field of IoT, and then determine the number of individual developments. As a result, the cost of the order is the sum of the base prices and adjustment indices based on the following criteria:

  • The volume of empty cells in the cloud storage.
  • Decentralized code architecture for improved maintainability and scalability.
  • The level of software protection against cyber-attacks and the quality of anti-virus programs in the development and implementation of the application.
  • The number of sensors, scanners, or cameras on physical objects, as well as the number of executable devices.
  • The type of software for which the application ordered by the customer is being developed is based on the IoT.
  • Compatibility with similar programs for reading Internet files around the world.

·         Connection type – wired or wireless.

  • The possibility of developing the client’s business with subsequent proportional scaling of the installed application (for example, by increasing the number of sensors and actuators).
  • Tee architecture as well as software.

Each potential customer, before concluding a contract, receives a full calculation of the cost of all services, after which we begin to work on approval. Thus, the customer is sure that the final price of the order will remain unchanged, provided that the scope of work remains the same.

Ranking of the BEST IoT-based Software in 2022

To make it easier for the customer to choose the most appropriate intellectual product, we are pleased to present the following rating of the best typical platforms based on IoT technologies that can be taken as a basis for creating and integrating into almost any business:

  • Google IoT is the world’s most famous Internet of Things software, costing as little as 50% of one cent for every 250,000 bytes of data.
  • Amazon IoT – has always competed with Google in terms of reliability, speed, and high technology, the cost is from a quarter of a dollar for each gigabyte of information, subject to the connection of up to 15 thousand devices with transmitters.
  • Azure IoT is a development by Microsoft, which also aims to surprise with cutting-edge developments. Potential customers will have to find out the price optionally, depending on the set of services.
  • Oracle IoT is also a competitor to Microsoft and Google, which guarantees each user flexible individual pricing, by a pre-prepared estimate.
  • Watson IoT is the most serious program developed by IBM. The program code is distinguished by the number of defragmented clusters, unique architecture, scalability, and 100% protection against hacker cyber attacks. In this regard, the client will have to spend at least $ 500 for using such software.
  • Cisco IoT is also a well-known provider with a worldwide reputation, which announces prices for IoT hosting only upon individual requests from the user.
  • The above is just a small part of the IoT platforms that are in demand among individuals and representatives of large companies, including those involved in innovative developments and exclusive customer service.
  • We also provide a full range of services for the implementation of individual software, in case standard software is not suitable for the customer.

As a rule, such solutions are offered to representatives of large businesses, with many nuances and physical assets. Considering that platform maintenance and hosting cost money, a large number of sensors and actuators can lead to huge bills – tens and hundreds of thousands of dollars. which significantly exceeds the cost of a one-time investment to create an individual product.

How can a Customer Save Money When Ordering IoT-Based Applications and Automation Systems?

Even the most successful company seeks to save capital assets, as well as working capital. This is reflected in the cost and service of various business areas, including those based on IoT. Thus, when any client contacts our company, he strives to save his money on investments in IT technologies as much as possible. Our team understands this very well, and we always offer only the best solutions, how our customers could save money:

  • Choosing the required interface – it is recommended to follow the principle, the simpler the better, as more clients will be able to understand the program.
  • Where to put the software – if the customer does not need an application for mobile devices – do not develop it, which will save money.
  • Is it necessary to connect the API to the developed software to support digital telephony?
  • To what extent will it be necessary to scale the workflow, as well as the entire system, based on the business plan. It is recommended not to increase cloud storage and other clusters for limitless sizes.

Of course, every customer dreams of 100% protection against viruses and cyber-attacks. However, such technologies change every year, and he will always be able to reinstall the programs after starting his business and receiving the first profits.

For our customer to be able to independently understand what options he needs, we recommend that you prepare in advance a list of important questions regarding the specifics of his business and the need to implement a certain level of automated control over processes and assets.

Next, we simulate a virtual end situation so that the customer can see how it will work after the full implementation and launch of the project.

Ultimately, the customer will figure out exactly which options he needs and which he doesn’t, and he helps us put together the right specs during the brainstorm, providing the ultimate in money savings.

Chitra Joshi

Content Writer & Marketer

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