According to an article in The Globe and Mail, the research firm Gartner estimates that there were around 3.8 billion devices and products connected last year. Gartner estimates that by 2020, this number will increase to 25 billion.
Statistically, the projected market for the Internet of things is estimated to be one million U.S dollars annually since 2017.
Evidently this means that the number of players in the IoT development space too would increase to cope with the rising demand from enterprises and customers alike.
Here is how you can use IoT to make your business stand out and to show it to your customers that you have the ability to bring imagination to reality.
The key to a successful product design is less about the technology and more about the design of the product – design that customers can use and leverage IoT to the maximum. The environment and user context can provide a lot of information about how the user will use the product.
Relentless prototyping is the key to ensuring that the time to market is the most opportune rather than the fastest. It is important to understand how the product will fit into the people’s lives and how you can ensure that this transition of the IoT product into their lives happens in the smoothest way possible.
IoT is great at working quietly in the background. Take for instance, the low powered long life sensors or actuators. They stay away from the limelight and continuously deliver data for additional analytics. The hardware needs to interact with it seamlessly and the overall user experience needs to be stellar
IoT goes way beyond adding a chip to connect machine to machine interactions. It needs to address a specific need of the end customer. All solutions (hardware, software, and connectors) need to be designed keeping this end need in mind. Only when the IoT product pays attention to customer behaviour during the product design and development, does it stand the chance to succeed in today’s intensely competitive times.
When your devices hold the ability to self-test, solving problems don’t eat up a lot of time or valuable resources. IoT serves as a bed for AI to comfortably be placed into products and devices which would soon be able to think and act by themselves (just like self-healing process in case of a connection fault).
Investing in the future has been the sole motive of a business and you just cannot ignore IoT when you look at the future from a tech expert point of view. Make sure to keep these considerations in mind so that you can develop a truly distinct IoT product that adds tremendous and tangible value to your end customers’ lives or work.
