Many startups struggle to build the perfect IoT solution for the market, or at least, one product that will perform well in a specific industry. However, the main reason why they usually fail has to do with the IoT consulting services that lead to the manufacturing of the IoT solution. Let’s see in detail all aspects that need to be considered.
IoT Solution definition
What is an IoT solution? An Internet of Things solution refers to a set of interconnected devices, systems, and platforms that enable the exchange of data to monitor or improve specific tasks.
IoT solutions are created for solving a problem or need that people or companies have. Thanks to the technology, data generated, and automation capabilities, people can make informed decisions.
Importance of building IoT solutions
Nowadays, people want to find new ways to solve their problems. If a startup or company can do that through a great business idea, customers will surely be interested in purchasing such a product.
However, in the eagerness of wanting to sell quickly, they can make a lot of mistakes and build an easy IoT solution that won’t be attractive enough to stand out in the market.
That’s why it is necessary to consider some elements that will ensure your project will perform well when it is launched.
Foundational elements of an IoT solution
When an entrepreneur or CEO realizes it is necessary to build an IoT solution for a specific industry, the first step is to get a consultation with a company that can ensure the following aspects are met:
- Complexity of the device.
- Capacity to solve a specific problem.
- Connectivity with other products.
- Automation capabilities.
- Scalability (See IoT hub)
- Product life cycle.
Building IoT solutions entails considering both technical and aesthetic aspects, however, it is also important to analyze how innovative the device is, and what would make it stand out from its competitors.
When people come to us looking for advice to build a new IoT solution, we always do a quick proof of concept to confirm the feasibility, complexity, and basic features. This is a starting point for validating the potential of the device.
Though this is a technical evaluation, entrepreneurs also need to do several surveys or tests to confirm if their new IoT solution will impact the market.
Connectivity with other products
For instance, if you want your product to stand out, you have to add connectivity features (IoT protocols, IoT sensors) that enable your Internet of Things solution to seamlessly communicate with other devices, allowing for real-time data sharing and accessibility.
The great benefit of implementing connectivity features is that your product will have better chances to be adopted by a broader audience.
On the other hand, if your IoT solution will handle sensitive data, it is crucial to set up privacy layers to protect your data from falling into the wrong hands, and limit the capacity of your device to connect to other devices or platforms.
Besides the reasons for developing IoT devices, you need to pay special attention to IoT prototyping, since this phase will define how your product will perform: connections, PCB prototyping, sensors, microcontrollers, platform or app (firmware vs software), IoT cloud technology, among others.
Let’s be honest, people get IoT devices because they can help them automate processes. Is your IoT solution design considering this? Think of how you can simplify the life of your potential customers, and they will surely be grateful to you when you offer them your IoT solution.
Consider the following features that could be really interesting:
- Task automation.
- Data automation.
- Automatic reports.
- Tasks and / or places monitoring.
If your IoT device can automate routine tasks, monitor processes in real-time, or optimize resource management, you will have a great product for the market.
IoT solutions enable businesses to provide personalized and responsive experiences to customers. Some companies pay special attention to electronic product development, and they end up offering a complete IoT device that beats its competitors with ease. While others focus on aesthetics to make the product more appealing to the eye.
We would say that it is necessary to focus on both aspects. Also, don’t overlook the design and performance of the software or app where the data is displayed, since users really value interacting with friendly platforms.
Nowadays there is a higher demand for products that are eco-friendly, or that contribute to reducing pollution levels. Think of innovative ideas on how your IoT solution would help the environment. Maybe by reducing energy consumption, changing daily habits that generate pollution, or by using recycled materials.
Product life cycle
Every product has a life cycle, that is, a time for introduction, growth, maturity, and decline. As a company, you need to think about this limitation for your new IoT solution (see product development lifecycle).
When companies or entrepreneurs are just starting to develop a new product, they fear it won’t be good enough for the market, but this is why it is important to check different products that could be similar to theirs, and see how often they need updates, or if they are in the final stages of the product life cycle.
Maybe another way to validate their new idea is to check different prototype examples, and use similar strategies to reach the potential market.
IoT solutions examples
You can find several Internet of Things solutions for different industries. The key here is to identify a problem that a specific market has and create a product that can solve it. We recently wrote an article on smart farming solutions, which outlines the different applications that IoT is having in this sector:
- Crop monitoring.
- Precision farming.
- Livestock Monitoring.
- Smart Irrigation.
- Smart Pest Control.
- Remote Sensing.
- Fertilizer Management.
- Asset tracking for smart farming.
For instance, crop monitoring was a hard task to carry out years ago (this was a common problem). Now, thanks to the technology of the Internet of Things, it is possible to use sensors, drones, software, and other devices to monitor the status of the crops without spending hours walking around the crops to analyze them (this is the IoT solution).
Depending on the needs of the managers of the farm, they will purchase IoT solutions that provide them with the best data to improve their crops.
Another great example is healthcare solutions. We can find several IoT solutions that are offering temperature monitoring, medication improvement, and mental issues treatment.
There are companies creating medical devices that share data with doctors in real-time, mostly, IoT solutions that help patients to keep control of their vital signs.
The great thing about this is that there is a big market awaiting for your IoT product: Smart homes, smart energy, waste management, smart cities, water management, industrial automation, smart buildings, smart retail, IoT fleet management, among others.
No matter the market your IoT solution will impact, if you consider the recommendations given in this article, you will have a great starting point.
Finding your IoT solutions provider
IoT solutions are transforming industries by connecting devices, collecting and analyzing data (see IoT monitoring dashboard), and enabling intelligent decision-making.
Now that you understand the importance of building reliable IoT solutions, we encourage you to take the next step and get in contact with a company like DeepSea Developments. We count on years of experience, attend several events to keep updated (see NXP Connects), and we have developed several IoT products for different industries.
It doesn’t matter if you have just an idea, a prototype, or an advanced product. Click on the button below to book a free consultation regarding your IoT solution.