Cost of IoT


The Internet of Things is gaining popularity every month, and today, most likely, there is not a single industry in business that would not be fully or partially automated with this technology. Developers turn over billions of dollars a year, and many people still think that the Cost of IoT is very high. Below is a detailed description of whether this is the case.

What affects the cost of the Internet of things?

The cost of the Internet of things, during the development of technology, individual settings, connection to remote physical assets, and commissioning of the system, consists of the following important factors and parameters:

  • The type of technology introduced into the customer’s program code – individual developments or standard solutions, analogs of which can be found on the net or in the database of the developer company.
  • The quantity, quality, and principle of operation of sensors installed on physical objects around the city, at home, at work, or in the office, each of which has its own cost.
  • A type of communication that provides data transfer between an execution device and a receiver located on a physical asset. Communication can be wired or wireless, cellular, Bluetooth, or Wi-Fi. Each type of connection has its own cost of transferring 1 Mb of data.
  • Availability and volume of free clusters in cloud storage. Databases are created to register new users in the system, and verify accounts for transferring money, paying for services, or other purposes.
  • The level of protection of services from cyberattacks, namely, the introduction of a decentralized program code that cannot be hacked by hackers with a random selection of a combination.
  • The scalability of the system, on which the entire software architecture depends, as well as its cost. Decentralized applications can also be repaired without shutting down the entire system.
  • The presence of different versions of programs with different interfaces adapted for both computers and mobile applications.

Thus, when a client contacts our company, taking into account all the factors listed above, we can initially name only the estimated cost of an intellectual product, and the final investment is determined only after calculating a detailed estimate.

What parameters form the basis of the estimate when developing IoT applications?

When calculating the cost of IoT for a client, we take into account the basic prices of our company, which depend on the amount of time spent by specialists, taking into account multiplying factors determined by the following factors:

  • The number of clusters in the cloud storage.
  • Decentralization of the system, the number of building blocks in the overall architecture of the program code.
  • The security level to consider when creating an application.
  • The number of sensors, active objects, as well as the types of the executive or transmitting devices – monitors, sounders, transmitters that transmit signals to mechanisms, scanners, IP cameras, temperature sensors, timers, or other gadgets.
  • Platforms and operating systems on which the integration of new applications is planned.
  • The versatility of the program and its compatibility with various, of the most popular protocols that are actively used when working with the Internet around the world.
  • Type of wired or wireless connection – LPWAN, Ethernet, Wi-Fi, Bluetooth, etc.
  • Possibility of scalability of the system, depending on the pace of development of the company’s business.
  • Type of software – completely individual architecture, design, and interface, according to the terms of reference agreed with the customer, or adaptation of already existing standard solutions, the operability of which has long been tested on other software devices.

Before starting work, we brainstorm. We are especially good at this because there are no leaders in our team, and all management is carried out horizontally. This is about taking into account every third-party idea, which guarantees both high quality, speed, and efficiency, and the best price for all your IoT-based software developments.

The end cost of developing IoT-based applications created in our company is one of the lowest among competitors in this field of intellectual products.

The most popular IoT-based platforms actively used in 2022

Below are the most popular standard solutions in the field of partial or full automation of various business areas, workflow management, as well as to increase comfort at home, when creating a “smart home” system, or work for the benefit of metropolitan residents – using “smart city” technology “:

  • Google IoT – of course, this software product is the most in-demand around the world. The cost of maintaining the implemented system does not exceed 1/2 cent per 250 MB.
  • Amazon IoT is Google’s main IoT competitor, however. prices here start at 25 cents for the service, but with the ability to connect almost 15,000 gadgets.
  • Azure IoT is a great product, built on top of the legacy Microsoft. The cost of the service starts from a subscription fee for 400,000 messages.
  • Oracle IoT – A relatively young platform, the prices for the use of which are calculated individually by the service provider.
  • Watson IoT is a professional, high-quality product created by IBM that provides the highest level of user security and uninterrupted operation, the cost of service starts from $500 for a full package.
  • Cisco IoT is a popular smart product that is priced on a case-by-case basis upon request from a potential user.

The above are just some of the applications and software provided by our company. If necessary, all our developers have extensive experience with customizable and editable software clusters, which allows you to customize the product to individual customer needs.

Owners or operators of large businesses should be aware that standard solutions may not always be beneficial for them. If the required number of assets on which sensors with repeaters are installed exceeds tens of thousands of units, and executive devices must automatically collect, process and transmit information to various warning systems or mechanisms, maintenance of ready-made solutions can be very expensive. In such situations, we offer our clients completely individual developments when it comes to investments in decades and hundreds of thousands of dollars for automation and control of business asset management. In such cases, a one-time investment can pay off in just a few months, in the absence of the need for a hosting fee for parent companies that have already released a mass intellectual product.

How can you save on the development and implementation of applications based on IoT?

The term that the economy should be economical works all over the world. Every company, even with millions of assets and turnovers with large profits, strives for this principle. This suggests that all managers and business owners always strive to save money, especially when it comes to an intellectual product that cannot be touched, and also sold after a certain depreciation. When a customer asks what he could save on, we always give him the following examples, parameters, and criteria:

  • The simplicity of the interface, that is, if the algorithm for managing assets and working with applications has the simplest interaction scheme that is understandable to most ordinary people, this will bring more profit and pay off sooner. The fact is that ease of management always attracts not only advanced PC users but also other social or age groups of the population. Accordingly, more customers bring more profit.
  • It should be noted that for each device – a stationary PC, an Android-based smartphone, or an iPhone, an individual application is required, which costs a certain amount of money. If the client is focused only on a narrow circle of consumers, he can always save money and refuse to develop individual software for any of the types of devices.
  • The presence or absence of the need to integrate the developed application with the API for communication.
  • The need for scaling – each free cluster costs a certain amount. When a client orders hundreds of thousands of such clusters, the price of a finished application with integrated cloud storage can grow to unimaginable limits, which is why a reasonable number of free cells should be chosen for registering new users.
  • The level of system protection – of course, all personal data of users must be reliably protected from intrusion from the outside, but at the same time, the most typical interfaces, as a rule, are not of interest to hackers, and a simpler protection system can be installed for them.

The presence of additional functions during the operation of sensors, transmitting, receiving devices, as well as actuators. If an IP camera is installed, it is not at all necessary to equip it with voice control, and the artificial lighting of the city should not depend on temperature or other parameters.

Thus, when choosing rational solutions that ensure the normal functioning of the entire system. but, at the same time, they are not equipped with any additional unnecessary functions or free, always empty clusters in cloud storage, and savings on investments can be up to 50% or more.

If the customer is not 100% sure whether he needs such a function or not, he can always contact the company again, and our specialists will be happy to diagnose IoT technology with the installation of additional functions.

To correctly calculate the cost of a new IoT solution, it is necessary to follow several important rules, namely, not to focus on the maximum automation of the process of managing and controlling business assets, to think in advance and analyze the operation of the entire system in practice and draw up the correct terms of reference, together with the developer.

Specialists and designers of our company are always ready to help each potential customer with solutions. provide full-service support, advice, and help make the right decision, the cost of which will be lower than the expectations of a business owner or a simple layman.

Chandra Shekar

I'm a tech enthusiast who loves exploring the world of digital marketing and blogging. Sharing my thoughts to help others make the most out of their online presence. Come join me on this journey to discover the latest trends in technology and digital media.

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