Unlocking the Potential of IoT Application Development for Your Business

Technology has pepped up the lives of the business and end-users together. Digitally advanced solutions are automating the work of the end-users and businesses are interested in developing more digital products than ever. The use of apps has dramatically increased in the last few years and with the launch of trends like AI, VR, Robotics, IoT and more, it is gaining an edge over the competition.

If we talk specifically about the IoT trend, surprisingly it has gained over the market pretty smoothly than any other trend. The concepts of smart homes, wearable devices, smart appliances, and smart sensors are a hit with end-users and have captivated their attention with the feature list it comes with. Businesses are interested in partnering with IoT app development companies to elevate their profits and win the competition.

Fact Alert: It is estimated that by the year 2020, the number of connected devices integrated into business IT infrastructures will reach 7.6 billion units.

Internet of Things’ adoption has already gained $11.1 trillion revenue increase across multiple industries. Thus, industries across the globe have fast-forwarded their IoT initiative with an IoT app development company.

Source: IoT Magazine

What more IoT is capable of and how it could transform your business to gain new heights and success is what we are going to discuss in this blog. Let’s get started with the potential of IoT for your business.

1) New Business Models

There has been continuous growth and development ever since technology has knocked on the doors of the global market and industries. The incessant dependency on technological devices is paving ways for end-users and businesses to gain the advantage and simplify their life. IoT application development company has been the first choice of enterprises since they provide an opportunity to remodel the existing business and uplift the operations and processes.

There are more automated services available for businesses to utilize and other smart equipment like sensors and devices to minimize human effort and maximize the potential of business despite less intervention.

2) Home Productivity

End users have less time these days and more tasks to accomplish in a day. This often gets on their nerves as the workload never takes a down toll and keeps on piling up making it difficult to even start with. With so much to plan and do, IoT app development company manage to increase the home productivity by incorporating IoT apps that automate most of the tasks like switching on/off appliances, smart sensors to ensure the security of the home and surrounding and smart thermostats that automatically manages the temperature of the home and more.

This brings down an estimated cut of about 100 hours of labor per year for the typical household, which is worth nearly $135 billion globally in 2025.

3) Inventory Management

In our previous blogs, we have shed light on how IoT is playing a critical role in almost all industries like manufacturing, healthcare, smart homes, supply chain, and more. Specifically talking about the supply chain industry, the challenge that they mostly face is with inventory management. Poor inventory management leads to bad business outcomes, so it’s important to have a reliable eCommerce inventory management system that will help you to boost productivity by optimizing processes and reducing errors, which ultimately leads to higher profits for your company.

4) Customer Service

Unlike before, businesses are targeted towards focusing on customers more. They ensure that their customers are satisfied and happy with the brand so that they stay loyal to the business. Since there is a lot of competition available in the market, it’s easy to lose customers even at the slightest wrong move. An IoT application development company looks into the matter and helps businesses to manage the customers and improve their relations with the business eventually. Enthralling customers with rich user-experience is what that entices users and thus builds trust between both smoothly.

5) Security

Last but not least is the uncertainty over security with technological advancement gripping over the globe. Technological development has brought us far but security remains a challenge for most. Data security is the top concern as there are hackers that are always looking to capture or steal data. To safeguard such data, businesses are implying IoT apps that help them to manage and safeguard their data from unauthorized personnel, hackers, virus attack and more.

IoT app development companies are also using other trends like edge computing to pull out only those data that are essential to complete the task thus minimizing the risk of all data exposure.

Conclusion

Wrapping up, the concept of using the IoT trend in apps has been quite a flourishing idea. Businesses and enterprises are thrilled about utilizing the potential and expanding the horizon of growth and development. In fact, they have started to approach an IoT development company to develop IoT apps that help them utilize the potential of their business and meet the competition smoothly. Many industries have been improvised and remarkably doing well with IoT like manufacturing, healthcare, supply chain, gaming, eCommerce and more.