7 reasons why Enterprises are Reluctant to Invest in IoT Application Development
The demand for mobile app development is gradually increasing since the inception of smartphones and our dependency on it. And with IoT in usage, the application development is about to evolve again.
Following are some roadblocks in IoT application development:
The most challenging aspect of IoT application development is the integration between devices. The idea of IoT is a network of interconnected devices that share data flawlessly to create an automated environment. Now, the devices that are connected are of different attributes, types, and sizes. And the IoT application should facilitate integration between edge devices and integration of services. Developers having expertise must be hired for IoT application development to evade this roadblock.
- Internal IT competencies
Every company’s IoT solution will be unique, depending on its desired business objectives and implementation approach. So, the IoT application requirement will differ from company by company and solution as well.
- No one-stop solution
IoT application development is just a part of the whole process of IoT product development. Multiple vendors are needed for Hardware requirement, connectivity, protocol support, and Devices deployment.
- IoT is relatively new
The scenario is IoT is new and there are not many sensors available that are capable of intra-device connectivity. The few sensors that are available in the market cost a lot, eventually, increasing the overall IoT implementation cost. As stated before, available sensors in the market have less capability and there is also a security issue while getting these sensors online.
- Bigger IT footprint
Organizations are already struggling with their huge IT footprint and a big chunk of money is getting spend there. IoT brings many new tools and that increases IT footprint drastically and on top brings integration challenges. The IoT application development alone is a costly process. Resulting in more financial burden to the companies. Yet, the return from these investments is huge but the initial investment is scary.
- Higher Total Cost of Ownership
The cost of IoT products and their deployment are high, not only development but support should be considered along with high skill resources who are expert in IoT. So, the overall cost of IoT application implementation is very high.
- Lack of Business case
Due to the newness of IoT and lack of risk appetite, it’s hard to jump for new business opportunities in IoT field especially when business leaders are not sure about the ROI (Return On Investment). Typically, we have seen the ROIs have surprised business leaders but it’s hard to count on that when thinking about the case of a new business.
- Load – Performance balance
The IoT application development becomes even more complex with a number of connected devices, a huge amount of data is generated that requires real-time processing to make the data useful. On one hand the app should be designed with a simple and attractive interface but on the other hand, it should also be capable of handling huge amount of data.