|Businesses underestimate the complexities of developing IoT services / Photo Credit: LookerStudio (via Shutterstock)|
Business Reporter wrote on business news channel Forbes that the value of the global IoT market is forecasted to reach £11.5 trillion by 2020. Therefore, no business, manufacturer of consumer goods or commercial equipment can afford not to integrate IoT sooner or later. As IoT solutions mature and offerings become more advanced, connecting a complex cross-platform deployment of embedded technology and cloud systems in real-time becomes more straightforward for IoT solution providers than it was three years ago. This doesn’t mean developing an IoT system is risk-free or devoid of missteps and failures. In fact, global management consulting firm McKinsey stated that 17% of IoT projects fail to the point they jeopardize the business’s very existence.
Companies are provided with the necessary IoT building blocks, but it’s up to them to do their part of the trade by integrating these blocks into a system by conducting numerous tests. Once the system is up and running, companies need to maintain and support it to guarantee optimal performance. They also have to face inconsistent device data streaming and other problems by themselves. Fortunately, IoT deployment today can be achieved on a platform-as-a-service basis—perfect for risk-averse businesses and for companies who learned the hard way.
IoT solution providers can get a “fully-functioning, high-quality, supported and scalable product to market in a few months” just by subscribing to platform services. Contracts with platform providers will range from microservices like application enablement, provisioning, access control, and device and data management. The contracts will also cover maintenance and support. Moreover, launching new IoT services in new locations around the world is no longer a challenge. Modularity also ensures that products can be easily integrated into future requirements.
Silicon Valley-based Ayla networks is a leading IoT platform solutions provider that removes the need to test and certify a different software agent with each chip and module variation or to port it to the desired module. This is done through Ayla’s new, portable software agent. The modules in IoT devices comprise of software agents and hardware chips.
Businesses underestimate the complexities of developing IoT services. Hence, it’s best to be clear with the risks of deploying IoT services, as well as the tools and services needed to mitigate such risks.