How to Develop an IoT Application: Features & Costs 2024

Building IoT solutions involves many components: software, hardware, and connecting devices, as well as ensuring it is user-friendly! This blog serves experienced IoT developers looking for additional knowledge and newcomers just entering connected technology development - helping everyone get off the ground when starting to develop IoT applications!

Defining IoT Application

IoT application development entails creating software applications that use IoT technologies to enhance device functionality and user experience.

Machine-to-machine (M2M) concepts allow devices to connect via all types of wired or wireless connections. Their connecting mechanism is known as machine-to-machine connectivity.

IoT apps connect devices via the Internet and sensors to provide capabilities like remote battery monitoring, status updates, and even predictive maintenance alerts - these capabilities can improve device performance, efficiency, and sustainability, benefiting both users and manufacturers alike.

Imagine having an intelligent thermostat connected to your phone's cooling and heating system so you can conveniently manage the temperature from your sleeping position. In case it's sunny and hot when you wake up, air conditioning may help cool off the room before awakening; or when rain is forecasted outside your window, heating can turn up before dawn to keep your home comfortable. Wouldn't that be ideal? It sure sounds like one!

Marketing Statistics of IoT

• Due to increased demands, IoT gadgets are predicted to reach a value of 13.8 billion in 2022 to 39.6 billion in 2033.
• The US has the highest number of IoT devices, with over 8.4 billion devices in operation as of 2024.
• Technology like 5G will propel the expansion of IoT since 5G devices will rise from 4.85 Billion units (2024) to 53.77 Billion (2029).
• The market has recently seen a significant need for IoT applications and has delivered some impressive positive outcomes.

Working Process of IoT Applications

Let's begin this section by asking an important question: What should an IoT application be created for? It's simple to connect with and manage IoT devices, which are physical objects like cameras, sensors, thermostats, sensors, and various other smart devices that connect via the web. Now, having this information, what can be accomplished? Here's how:

Data Collection

IoT devices utilize the internet to collect and transmit data to an IoT application. Temperature, humidity, location movement, and other important information may be incorporated.

Data Processing

The IoT app analyzes and examines the data once it's received to find valuable information. To analyze the information, the app could employ various algorithms, such as machine learning models and various other methods.

User Interface

The IoT application provides the user with the data processed in a way that is easy to understand. It could be a mobile or web-based application based on the device being used.

User Input

The user can use the IoT app by entering input, such as setting a temperature, turning off the light, or altering the parameters of the IoT device.

Device Control

Based on input from the user, the application instructs IoT devices to perform specific actions. For example, IoT software will instruct the lamp to switch on whenever the user wants to switch on a light.

Data Storage

The IoT application could store the information it has processed in the database for future analysis and reference.

Security

To protect against the possibility of data breaches and unauthorized access, the IoT application should use encrypted communication protocols, authentication, and access control methods.

In general, an IoT app connects IoT devices, collects data, processes it, presents information to a user, and then manages the devices in response to input from the user. The primary goal of the application is to control and manage connected devices while providing an effortless and efficient user experience.

Steps to Develop an IoT Application

Before beginning IoT applications, you must establish the app's functional requirements and conduct a competitive analysis. Our most recent post will show you how to do this.

After you've completed your preliminary steps, proceed to the next five steps to make your brilliant idea an operational, profitable IoT application.

Plan the Framework of Your App

Consider the most efficient delivery strategy for creating the IoT application: building entirely from scratch, employing SaaS platforms or alternative models. The framework can be described as the "backbone" of your IoT application. It aids in understanding the timeframe, budget, and the technical specifications.

In this phase, you must plan your app's data, cloud architecture, network protocols, open API support, and scaling. Be aware of the need for IoT devices, hardware support, firmware updates, and security features to ensure that your IoT application is secure and reliable to use.

Create the IoT App Prototype

In IoT prototyping, it is one of the best methods to distribute the cost of your project efficiently, ensure that it's appropriate, and offer all the features necessary. IoT prototyping apps are a great starting point due to several reasons:

• It allows you to test your IoT business idea and Internet of Things app features.
• It's a cost-effective means for you to try your concepts before investing in the entire development process.
• It can help you reduce risks early in the process.
• It lets you collect feedback from customers and consider potential improvements.
• It simplifies the subsequent creation of an app that is fully functional.

In this phase, you'll also be able to explore different wireless and wired technical solutions to tackle specific issues and create seamless communications via IoT devices. A few of them include KNX systems and the Zigbee protocol.

After you've created an efficient IoT prototyping, it's ready to move forward with the development process.

Develop, Implement, and Deploy the IoT Application

Based on the prototype and documentation, you can build a solid IoT application compatible with your hardware at its best. Initially, you should focus on the UX/UI aspects of the IoT application's design and the backend programming architecture. It will also provide the most value to the end-users. After that, you'll be prepared to go live with your IoT applications to be deployed.

Mind the App Testing & Integration Stages

IoT apps are becoming more complex and rich in features. Therefore, the QA process is an essential phase for any IoT development. It assists in identifying and addressing different types of errors and can be a good idea to add additional functionality to improve your app's performance. Five types of testing are employed during the IoT QA process: security testing, performance testing, compatibility testing, usability testing, and scalability testing.

Maintain and Improve the Application

When the IoT application is launched, remember its subsequent maintenance and improvements. In addition to marketing, you'll also have to collect customer feedback to improve your app's performance and help it reach the top spots in the IoT software marketplace. You should also analyze the software of IoT devices to ensure it is safe and up-to-date.

Top Use Cases of IoT App Development Use Cases

IoT using Artificial Intelligence and Machine learning aids in more efficient business data analysis. It assists enterprises in making crucial business decisions by providing transparency of connectivity and data for each aspect of their operations and management. IoT has also introduced a Software-as-a-service norm to small-scale businesses, allowing them to explore digital presence. What else can custom IoT software development accomplish? Let's look at:

1. Manufacturing

Components that connect machines have been a crucial component of the manufacturing process. The ability to streamline processes and track everything in real time is unrivaled when IoT is integrated into the manufacturing sector. Through the combination of IoT and AR technology, the manufacturing industry offers workers a comprehensive overview of the condition of the equipment and fuel levels. 

The manner in which production processes are executed is one example of IoT incorporation into manufacturing. The IoT apps comprise electronic quality control systems for products, product equipment management systems, and asset management systems.

2. Retail

The retail industry offers many possibilities for IoT mobile application development built on IoT technology. Many trade processes, such as Supply Chain management and intelligent shopping, for example, creating an appropriate assortment based on location, price customers are willing to pay, and their attributes, are enabled by the Internet of Things in the retail sphere.

Retail is not limited to the retail sector or supply chain administration. It provides opportunities for the hospitality sector, restaurants, and various other businesses to offer solutions and gain insights.

3. Smart Cars

The number of connected cars is expected to grow to 72.5 million in 2023. Many new cars entering the automotive industry around the globe will feature many connected car features, such as Wi-Fi connectivity, location tracking, remote ignition gasoline price comparison, the ability to park remotely, anti-theft geofencing, and many more options.

4. Electronic Health Care

Many technological innovations are continuously being developed in the healthcare sector, from AI, which is affecting the sector, to Blockchain, which is poised to revolutionize healthcare. The health and care sector is a constant source of innovations.

IoT technology is widely utilized to create applications that monitor patient status, temperature, and diagnostics, as well as monitor radiation and UV radiation within medical device storage and evaluate environmental conditions.

An actual illustration of IoT in EHR is seen at Ochsner Health System, which has integrated the EHR system into devices that use IoT technology to track a patient's health. They utilize wireless scales and cuffs to monitor vitals and then transfer the information directly into every patient's medical record with the patient's smartphone. Health professionals, doctors, and others then monitor the information remotely. To identify potential issues.

5. Smart Home

Smart homes are an extremely well-known application that is part of the Internet of Things, and the growth of their popularity will only rise in the coming months. Software for keeping an eye on the water, gas, electricity, or remote control systems, as well as security, are all components of the Internet of Things ecosystem and are set to reduce the requirement for human intervention and become an everyday feature of life.

Smart homes are the best way for everyone to experience revolutionary change by using home apps for their daily lives. Smart appliances can analyze your routine and home and provide a solution.

For instance, monitoring movement across floors, observing light levels, setting alarms, etc.

6. Smart Supply Chain

The primary driver behind Enterprise IoT innovation is the smart supply chain. A Forrester study found that the IoT supply chain could account for 25% of companies' total IoT expenditures in 2023. IoT is set to bring two major advantages for those in the Supply Chain domain: Operational efficiency and high revenue.

To enhance operational efficiency, you can examine the following areas:

• Asset tracking
• Vendor relation
• Forecasting and management of inventory
• Connected fleet
• Maintenance scheduled for the future

When we talk about increasing revenues, we refer to extending business models. It's possible to include an area for the purchasers to know where their product came from—the manufacturing process as well as the cities it crossed or crossed, etc.

No matter the application's purpose, the platforms required to make it come to life are not as extensive, so we need to be aware of the IoT app development costs.

With the growing popularity of IoT and the ever-growing popularity of IoT marketplaces, the IoT industry is now flooded with platforms geared towards the deployment of apps that monitor and manage all IoT-connected devices and systems.

Must-Have Features for an IoT Application

The list of features available can vary depending on your field of work, your end goal, and the user's requirements. We have compiled an inventory of the most important and useful features to consider for your IoT application.

User Profile

User profiles are a vital characteristic of Internet of Things systems. Smart apps are about personalization. To give your users a premium experience, you must familiarize them with the user.

Dashboard

The dashboard does the vital task of showing all the information collected—including parking spaces available, ambient temperature, approaching buses, and so on—based on the kind of IoT application.

Notifications

Notifications allow users to stay informed and get real-time updates about any modifications. For instance, smart doorbells utilize motion sensors to notify the device of the user whenever there is movement at the door.

Security Features

Security features may include app locks like FaceID or PIN codes, access control, and secure communication channels to send information. If you store a lot of personal information and sensitive data, security features should not be overlooked.

User Feedback

User feedback is the best way for an IoT application to collect customer feedback and discover ways to improve. Typically, apps come with an online form for submitting feedback that allows users to provide details about the issue and upload a photo.

Onboarding

Onboarding is a set of screens that guide users through the app interface and its principal functions. It's a must to ensure a great user experience.

Activity History

Activity history details which devices were switched on or off, what they did, and the actions taken through the application.

Customization

The customization options include routines, shortcuts, and saved devices for quicker access to accomplishing tasks. The more options that can be personalized, the better the user's satisfaction will be.

Cost of Developing an IoT Application

The price for IoT applications will differ according to the complexity of the IoT development consulting, which is based on the number of features included in IoT application solutions.

The app can be classified as a simple IoT application because it connects only a limited number of devices and lacks advanced options other than basic connection and data rendering, which can cost anywhere from $30,00 to $40,000.

A sophisticated application, however, is one in which IoT app developers can add different features, including geolocation, payment, and synchronization across devices. API integration with third-party APIs and data encryption, as well as new technologies, auto-learning feeds, Content management systems, sources of data ingestion, and the requirements for reporting the granularity of security and strengthened standards. This is in addition to other premium ones. It can be estimated at $50,000 to 80,000.

The cost of creating an IoT-developed app or the IoT cost structure varies from one country to the next and also from company to business. The size of an enterprise, the typical cost for developers/hour, the size of the country in development, and more are factors in the IoT development process.

The Key Takeaway

Developing an IoT app is a multifaceted process that requires careful planning, technical know-how, and financial investment. If you're thinking of developing an IoT app, it's essential to consider all the elements that could impact the price. This will help you to make an accurate estimation of the total development cost and be sure you're prepared to budget accordingly.

In the ever-changing landscape of IoT, where technology and innovation are interspersed with pragmatics, the function of an IoT application development company is crucial. With a focus on delivering top-quality solutions that meet budgetary constraints, an IoT Company can help companies harness the power of connected devices and ensure financial efficiency.