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How Much Does It Cost for IoT App Development | Cost Estimation Guide

324 Views | 6 min | August 13, 2021
IoT app development

You all might have read many blogs on IoT app development. Still, it is not clear what exactly is an IoT app and what are the functions of this technology that one should know. 

Through this IoT app development guide, we are going to cover every small detail about IoT apps. We will tell you how much it costs to develop an app like this.

The new generation is always excited about new technology and eager to use it. That is why we are here to help and guide you with the best app development process. If you also have a unique idea regarding IoT app development, then we can help you build an amazing IoT app.

Let us start with a little introduction of IoT apps and then we will go through the IoT app development process.

What are IoT Applications?

IoT apps are developed to make human life easier. It is also helpful in empowering your business, enabling you to invest money in creative and modern tech rather than investing in useless resources. 

In easy words, we can say that any physical device that we can connect to the internet and which we can use to share and collect data that is known as IoT 

The Internet of Things has a major role in making this generation smart. This high-tech technology is the mother of many amazing products like the smartwatch, Amazon Echo, e-scooter, etc.

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Future of IoT Applications

The internet is not just helpful to computers and laptops users, now it has become an important part of our daily life. With the use of IoT, we can even monitor the number of steps we walked in a day and much more. 

The IoT is the need and requirement of the current and future generations to make the lifestyle easy and smart. 

If we consider the Statista report, then it is stated that in 2030 there will be more than 50 million devices that are likely to be connected with IoT. 

future of IoT apps

Many sectors will use IoT in the coming future and many industries have already incorporated this technology. 

No doubt, IoT is a very useful invention that will turn the future into something very different and advanced.

Some Popular Examples Of IoT Applications

We have discussed the future of IoT apps in the above section. In this section, we will see which IoT apps will have good control over the market in the coming future. 

Below we have given a few examples of IoT apps. Different segments where this technology is helpful.  

popular examples of IoT devices

Smart Homes

Smart homes are the highest-ranking category of IoT applications. There is great demand for smart home appliances. 

If we talk about smart homes or smart cities then it won’t be wrong to say that there are several possibilities in which IoT can be helpful in simplifying our daily life. 

Smart home devices can provide services for multimedia, electricity, gas, and water monitoring, security and safety equipment management, remote home controllers, and communications. 

Smartphones, commands, and gestures are some commonly used mediums to control smart homes.  

Some of the popular examples of smart homes are google home, Samsung smart things, Amazon Echo, Insteon hub pro.  

Wearables

IoT-based wearables are always a hot topic. Users are always excited and wait eagerly for the new technological launch. 

We all know when Apple’s smartwatch was about to launch in 2015. How excited the users were and eager to buy it.

There are many other innovative wearables available in the market nowadays like, Sony smart B trainer, look-see bracelet, the Myo gesture control, etc.  

These IoT-inspired wearables are in demand because they have many smart and attractive features. 

Smart City

IoT apps can help manage water distribution, manage traffic and waste, etc in a city. There are several ways where IoT apps are helpful in creating a smart city. 

IoT solutions can ease the common pain of the people who live in cities. 

However, the concept of a smart city is still a plan but very soon we can see a complete city that is equipped with smart technology. 

If you need to understand this with an example, then we can take an example of hidden cameras that are present over the traffic lights. In case any person does not follow traffic rules they can be punished for the offense. 

It helps in maintaining the right traffic discipline on the roads and results in fewer mishappenings like accidents, overtaking, etc.

E-bike is also an example of this new technology which helps in reducing pollution.

Telehealth

There are several IoT uses when it comes to healthcare. New devices or wearables that monitor our heart rate, sugar level, and blood pressure, etc. 

Users can also connect their IoT devices to the laptops, system, etc for sharing data with their doctor. 

Most US hospitals use EHR ( Electronic Health Record ) to provide patients and doctors with real-time vital data. The EHR-based system helps in studying diseases and their prevention.

Agriculture

The agriculture industry is another one of the most developing sectors, that can use this latest technology in making the irrigation process more efficient and easy. 

IoT is helping many industries with its services, hence we can use IoT in making agriculture-related tasks simpler too. Nevertheless, it is not much used in many countries now but smart farming will take over this industry soon.

Transportation

Smart cars or vehicles are one of the finest examples of IoT-driven apps. It helps in managing many tasks easily like, tech monitoring, emergency dispatch, preventive maintenance management, constant location tracking and sharing, anti-theft features, Wi-fi and smartphone connectivity, remote ignition, and parking are the hot topics in the automobile industry nowadays. 

The automobile industry is the first industry to adopt the IoT.

Factors That Influence The IoT App Development Cost

Many factors are responsible for raising the IoT app development cost. IoT app development requires the latest software and technology therefore it is a little expensive. 

 The number of hours needed for IoT app development will be more as compared to other basic apps.

The app development cost is directly proportional to the number of hours developers and designers work. As IoT app development needs time, patience, and proper planning, therefore, the IoT app development cost will be high.  

Whenever you are developing an IoT app for any device you need to be patient and have to work smartly.

We can also say that the development cost for maximum apps is similar but in the case of IoT apps, you need to have a high budget because of the complexities present in them. If we talk in rough figures then the overall cost of IoT app development will lie somewhere between $25,000 – $50,000.

There are other options also if you do not have such a high budget. You can go for white label app development. In this situation, developers don’t have to build the app from scratch and therefore your number of hours can be reduced to some extent. You can talk to the best mobile app development company too regarding white label app development and other IoT app development-related concerns

Challenges of IoT App development

However, IoT app development looks too cool and exciting but yes there are few drawbacks of these IoT apps.

Sometimes we have to face many problems while accessing apps. At times GPS doesn’t work properly, devices do not take command in low internet connectivity regions, etc.

There are many other technical issues that users face while accessing IoT apps that we will discuss in this section and also how to resolve those glitches.

Now if we talk about the risk involved in developing IoT apps then it won’t be wrong to say that yes there is little risk of security while developing IoT apps.

Let us understand these points below even more clearly:

Huge Investment

If you plan your budget for IoT app development in the beginning then it will be too early. As many factors influence the IoT app development cost. 

While developing an IoT app you can face problems with hardware, API integration, unique solution promotion and maintenance plans, etc.

We can suggest that if you are planning to develop an IoT app then you should take things slow and steady. IoT app development needs a lot of research and planning therefore talk to tech experts regarding this. You can talk to experienced app developers and designers regarding this app development cost.

Security Issue

However, IoT is all about direct interaction between databases and hardware. Hence there is always a chance for data damage and data breach.

IoT is known to be an easily hacked digital environment as your ecosystem can encounter many insecure devices.

There are different ways to resolve this issue like:

  • Customized and flexible software and hardware encryption
  • Strong authentication process
  • Constant Data backup

No Industry Standards And Communication Infrastructure

As there is no universal language for developing IoT apps, that makes things a little challenging for programmers. We can say that in the coming years there will be better tools for IoT app development that will eradicate this issue.

Also, IoT apps do not work with bad internet connections and in other low-digital infrastructure regions. That again makes it difficult to work with IoT globally.

Conclusion

We all have heard a lot about the Internet of Things. These devices have changed the lifestyle of the current generation and resulted in many positive outcomes.

The Internet of things will be available in all futuristic devices therefore it will help develop apps with IoT.

If you are looking for IoT app development solutions then you can reach us for help and take a free demo today.

cost estimation for IoT app development

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