The Internet of Things is developing at an alarming rate. A report pointed out that by 2026, the global IoT market will exceed US$1.38 trillion, a significant increase from the US$761.4 billion valuation in 2020.
IoT would be nothing without an IoT platform—the middleware that connects sensors, assets, data, software, and business processes. It brings together all the different components of IoT infrastructure so that your business can reap every possible benefit.
There are many IoT platforms on the market, so it is important to find the right one for your business. This can be a daunting task, requiring sifting through a lot of complex and competing information. This article lists the main factors you should consider when choosing an IoT platform to help you make an informed decision that will provide you with the best solution for your needs.
Why do you need an IoT platform?
Essentially, the job of an IoT platform is to provide a ready-made framework for all IoT infrastructure, bring everything together, and help you start reaping benefits as quickly as possible. Here are some of the biggest benefits of a quality IoT platform:
It saves money. By increasing the likelihood of project success and reducing the time required to develop systems and solve problems yourself. Without relying on an IoT platform, your project is more likely to fail and cost you money. IoT platforms can also centrally manage IoT networks, which is more cost-effective than trying to manage a dispersed collection of devices.
It helps provide security. Keep your devices secure, keep valuable data safe from hackers and cybercriminals, and give you peace of mind.
It helps you get to market faster. An IoT platform can take care of many aspects of an IoT project, saving you a lot of time and enabling you to roll out prototypes quickly. A good IoT platform comes with out-of-the-box functionality. From billing assistance to data analysis support, all designed to help you get the most out of your IoT infrastructure and provide valuable support to every member of your team. Device and data integration. An IoT platform brings all your devices together and integrates them into a central system. This way, you can integrate data with enterprise systems and enhance your organization’s existing processes. The result is a more cohesive network, with each part supporting the entire network, rather than a disparate collection of individual devices. By combining IoT data with data from external sources, it can help improve and streamline operations across the enterprise, providing a more comprehensive view of the entire organization, driving better workflows and helping you achieve your goals in various areas .
What to consider in an IoT platform?
A good IoT platform can provide a range of major advantages to your project and overall business. By offering connectivity as a service, they simplify the process of managing IoT devices using a variety of network connectivity technologies and eliminate the need to contract with multiple network providers.
But it’s important to choose a platform that suits your specific needs. To make sure you make the right choice, consider the following:
1. Connection management
When it comes to IoT, connectivity is an important factor. Every project and organization has its own specific connectivity needs, which will directly impact which IoT platform is best suited.
Some IoT platforms are more specialized in certain technical aspects than others. Ideally, you should choose a platform that can coordinate a range of different network connectivity technologies, such as LoRaWAN, Sigfox, NB-IoT, LTE-Cat.M1, 4G, 5G and WIFI.
Geography is also something to consider, and your IoT platform should be able to support all of your IoT applications and devices in different geographical areas.
2. Ease of use
The whole point of IoT is to make your life and business processes easier. It should not add additional difficulty and complexity to your system. The best IoT platforms are straightforward and easy to integrate with existing processes.
3. Scalability
Your IoT project will almost certainly grow over time. As this technology expands and becomes more widely available, nearly every enterprise will likely find itself using an increasing number of IoT devices and capabilities across multiple use cases.
Your IoT platform should be ready for this. Choose a platform that scales easily as your project grows and is suitable for all IoT project statuses. The best IoT platforms should be able to scale across a range of different deployment models.
4. Security
Another major issue with IoT networks is security. Attacks on IoT devices are on the rise, with 33% of infected devices now being part of the IoT. Always make sure you choose an IoT platform that prioritizes security.
If you don’t take security issues seriously, your IoT infrastructure will be at risk of cyberattacks, which can lead to downtime, loss of sensitive data, and severe reputational damage. On top of this, many companies are required to adhere to strict regulatory requirements when it comes to data ownership and security, meaning you could face legal penalties if your data is breached.
It’s no longer enough to just protect your workplace – in our increasingly remotely connected world, you must keep your devices secure wherever they are. Your IoT platform should also be able to integrate with common cloud infrastructure such as Google Cloud, Microsoft Azure, and Amazon AWS.
5. Adapt to technological changes
When it comes to technology, if there’s one thing we’re certain of, it’s that constant change is inevitable. This is a good thing for businesses to ensure continued progress and development, but it is crucial for IoT systems to be prepared for this ongoing change.
Your hardware, connectivity, and applications need to be adaptable and resistant to change. Otherwise, you’ll run into issues like technology lock-in, where you’ll be forced to use technology that no longer meets the needs of the time.
One way to ensure adaptability to change is to replace components of the IoT solution over time without affecting the overall end application. This enables you to modify and upgrade your infrastructure bit by bit without major delays and downtime.
Summarize
There is no one-size-fits-all answer when it comes to IoT platforms. You need to take the time to figure out which platform best suits your unique needs and challenges, and then choose one that can help you get the most out of IoT.
