How Much Does It Cost to Develop a Bespoke IoT App?

The Internet of Things (IoT) is the future of intelligent technology. This means that the need for technological innovation and implementation in each industry has never been higher than it is today. IoT mobile apps can transform your business and change the way that you operate your office or even your home. They can also help bring greater value to the customer experience. It is important to understand that there are a lot of options when it comes to developing an IoT mobile app. The following guide will provide you with everything you need to get your business connected to the IoT.

You would think with such high demand, businesses would be willing to spend any amount on hiring IoT mobile app developers to handle their IoT needs. However, it turns out that developing an IoT app is the need of the hour and if you are looking for custom IoT app development solutions while identifying the cost factor, then you have landed in the right place.

In this blog post, we look at exactly how much an IoT mobile application developer costs and what companies can do to save money on expensive development costs. The IoT market is massive and is ever-growing which means that businesses have no choice but to start using IoT technology through mobile apps to improve their products and services. If companies are not willing to spend money on developing bespoke apps for their clientele, then they might as well miss out on the growth and innovation this market offers. When it comes to creating bespoke apps for IoT devices, companies need to consider several factors before agreeing on the developer’s fees.

IoT Market Stats:

• In 2021, there were more than 10 billion active IoT devices.
• It’s estimated that the number of active IoT devices will surpass 25.4 billion in 2030.
• By 2025, there will be 152,200 IoT devices connecting to the internet per minute.
• IoT solutions have the potential to generate $4-11 trillion in economic value by 2025.
• 83% of organizations have improved their efficiency by introducing IoT technology.
• It’s estimated that global IoT spending will total $15 trillion in the six years between 2019 and 2025.
• The consumer IoT market is estimated to reach $142 billion by 2026 at a CAGR of 17%.
• 94% of retailers agree that the benefits of implementing IoT outweigh the risk.
• The amount of data generated by IoT devices is expected to reach 73.1 ZB (zettabytes) by 2025.

If you don’t wanna lag in this competitive market then choose an IoT app development company to develop an app for your business.

IoT apps have a lot of benefits and can help businesses increase their revenue through better client interaction. However, it comes at a cost and companies need to research their options thoroughly before agreeing to a developer’s fees. One of the most important things that companies should keep in mind is the amount of time it will take for them to receive the app. This can be one of the main factors that influence how much they decide to spend on developing an app.

The 6 Promising Internet of Things Industry Applications

Manufacturing:

The manufacturing sector makes use of many IT devices like robotic machines, industrial cameras, and sensors. IoT devices allow manufacturers to monitor and control their production lines more efficiently. It also helps them keep in touch with their clients through messaging and monitoring their operations. An IoT device can be connected to multiple computers where each one controls certain tasks on the factory floor. IoT sensors are used for all kinds of security solutions across all verticals including theft prevention, surveillance, access control, and perimeter defense among many others.

Smart Homes:

The increasing number of smart devices is making our homes smarter and more tech-friendly. IoT apps help us automate many aspects of our homes like the temperature, lighting, music, etc. Also, devices like thermostats can be used to monitor your home’s temperature in real-time and are connected to your smartphone which means you can also control them from anywhere in the world. A lot of companies are already developing apps for smart home use and they’re becoming quite popular among users who are happy with how efficiently these apps work.

Manufacturers have started integrating sensors into their products which allows you to track each device online or through an app on your phone.

Electronic Health Care:

The medical industry is one of those industries that are highly reliant on technology to enhance their operations and processes. IoT sensors help doctors monitor patients 24/7 with their instant feedback to aid in taking better decisions for treatment and recommendations for their wellbeing.

People using internet-connected health devices can track their health stats through the apps offered by healthcare providers. These apps can show you how many times you have taken your medications, monitor your sleeping patterns, and even remind you of doctor’s appointments. The IoT apps also allow you to share your data with your family or doctors directly from your phone. The benefits of these apps are endless and they help give people an idea about their health statuses and how they can improve them.

Smart Cars:

With the rapid advancements in technology, cars have become smarter and more advanced. IoT cars are equipped with sensors that allow users to access various features like auto parking. Some of the IoT apps available for cars offer features like remote engine ignition, where users can start their car from a distance and track their route using GPS systems. A lot of companies have started developing apps that allow you to unlock your car using NFC or Bluetooth keys, turn on air-conditioning and seat warmers depending on the weather, call for help in case of emergencies, etc.

This gives the cars a unique personality and is something that people find attractive. Also, it provides the option to control some features from the outside of your car without actually unlocking them which is pretty amazing.

Logistics:

The logistics industry has also introduced IoT devices that allow you to monitor your shipments in real-time. There are already many IoT apps out there that help you track your shipments and even increase efficiency in this industry by showing a lot of useful data like shipment status etc on a single dashboard. The benefits of using these apps in this industry are immense as companies can gain complete transparency about their shipment and delivery process which helps them reduce costs and improve customer satisfaction rates.

Many companies have recently started using IoT devices to monitor the status of their shipments. This not only improves the quality of their products but also allows them to go one step ahead in the logistics industry by using data analytics and predictive systems.

Smart Cities:

The Smart City industry is another growing industry that is solely dependent on technology to improve various aspects of city operations. IoT technologies are being used in various places and cities across the globe are becoming smarter with each passing day. These smart cities use IoT devices to collect, analyze, process, and share data which helps them manage public services and infrastructure better than ever before.

IoT sensors can be used to monitor traffic on the road and also help regulate them to ensure a smoother flow of traffic which is a huge benefit for smart cities. There are already lots of companies that are developing apps for smart cities which help them manage their infrastructure and public services efficiently. These apps track everything from energy consumption, public transportation networks, waste management, etc., and then share the data with agencies like city governments.

Smart Supply Chain:

The supply chain industry is one of the oldest industries and it plays a crucial role in the success of many companies. With IoT systems, the supply chain industry has now become more effective as companies can track shipments from production till they reach their destinations.

IoT devices can be used on shipping containers to monitor the temperature or even alarms which notify the company when a container is opened. Some companies are adopting IoT devices to monitor and track their products at every stage so that they can deliver better and reduce costs at the same time. There are already IoT apps and devices which allow companies to monitor all kinds of data related to their shipment including product quality and location status etc.

Retail:

Retail has always been one of the most critical elements in the success of a company. The retail industry can be improved with apps and IoT devices that help retailers understand their customer needs and respond to the same. Also, you can shop only what you need and when you need it, by using a delivery system that allows you to track your package from its source to its destination.

Roughly 40% of all stores in the United States have already started integrating smart devices like sensors and NFC tag readers into their stores. With IoT devices, customers can track where their products are sitting on store shelves and when they will be delivered to them. This helps them make better decisions about what products to buy and for how much time etc.

With the ever-growing popularity of the IoT market, innovations and devices are coming every day which brings numerous benefits to the users. IoT apps are now being used in almost every industry to improve various aspects of operations. With these apps, people can control their houses, cars, and even their health from a distance.

IoT is constantly evolving with new technologies taking over old ones and there is no question that these devices will keep on keeping things better than ever before. With this technology advancing so rapidly, people have started relying on IoT systems for many different things like controlling their homes remotely or monitoring the quality of the food they eat at home.

Factors Affecting IoT App Development Cost:

Hardware:

The cost of IoT app development is closely associated with the hardware you would like to include in the app. For example, if you want to introduce a temperature sensor on your fridge then you will have to buy one for yourself, and for the rest of the app development process expect a cost increase.

This is not the case if you choose a 3rd party solution. Here each part of the device will be connected to a cloud system that saves a lot of space, data, and money. The cost of IoT app development depends also on the number of features and functionalities you wish to employ in your app.

The typical cost for a basic smart bulb is between $15 – $30 per item but if you are looking at more complex apps and high-end devices, prices may vary from $50 – $100 per item.

Storage: The amount of data that your app would need to store in the cloud can significantly affect the overall cost of developing an IoT solution.

Mobility: Ensure that your mobile solution is compatible with all major mobile operating systems.

Connectivity: Selecting a connectivity solution also needs careful consideration so that your product can be connected to a variety of devices.

Legacy infrastructure: Decide whether you want to replace or complement your existing systems or whether it makes more sense to build a completely new system from scratch.

Platforms: When you are choosing a cloud platform for your IoT solution, ensure that it supports the hardware(s) or devices you wish to incorporate into its system.

Time required: On average it takes a minimum of 3 months to develop an IoT product. It can take longer for cleverly designed applications.

Aside from the previously mentioned main factors, the basic cost factors include:

• App type for development
• An app’s complex operation
• Features of the app that will be loaded
• Various types of technology are employed.
• The number of device connections
• Location/development site

Now that we’ve examined the factors that have a direct impact on the cost of developing an IoT app, let’s take a look at how much it costs to build an IoT app.

How Much Does IoT App Development Cost?

The cost of developing an IoT application depends on the type of app you want to build, how many different devices you plan on integrating and the size limitations of your project.

Evaluation of the IoT project will help you to get a better idea of the cost. The cost of IoT app development ranges from $5,000 to $250,000 based on various parameters like time and skill required for developing the application. The overall cost of your application will depend on how much time it takes you to build it and how many devices you want to include in it.

The cost of an app development process can be calculated by considering the time you will have to put in and the number of devices or sensors you wish to connect with it. The time usually takes 4–10 weeks. An average project will cost not less than $20,000. The cost range of IoT app development depends on the following factors:-

• Device/Device Type: Cost range varies from $5,000 to $250,000.
• A number of connected devices: The IoT mobile app’s cost depends on the number of features and connected devices. Hence it depends on how many connected devices you will need in your app.
• Device type: The more complex your app is, the higher is its price tag.
• Additional features: Some people prefer to keep their applications simple and focus on the core functions. The average price range per additional feature is $10–$50,000.
• Time spent in development: The time required in building an app varies from 5 weeks to 10 months depending on the requirements and complexity of your project. It also depends on various factors like the expertise of your programmers, several devices connected, time spent in coding each device, and other related aspects which will make it more expensive or less expensive for you to develop an IoT app for your project than for other similar projects.

The cost of developing an IoT-based app or the IoT cost structure varies by country and company. The cost of IoT app development depends on various factors as we mentioned above. The application that can be classified as a simple IoT app due to limited device connection possibilities and a lack of extensive features besides basic connection and information rendering will cost between $20 and $40,000.

On average, it takes 3 months to build a feature-rich IoT app. Any additional features will increase its price and time of development considerably. If you are planning on connecting more than 100 devices with your app then you will have to pay more. Additional features also add to the overall cost of an IoT app development project.

What is the Future of the IoT industry?

The boom of the internet and mobile technology has led to the development of IoT, which is an interconnected system in which all gadgets can communicate with each other. The future of the Internet of Things will be subject to how devices and applications are designed. In the meantime, it will show the potential for innovation and growth in this industry.

The adoption rate: If IoT development is adopted purposefully by companies or organizations then it will fetch higher profits for both customers who use smartphones or tablets as well as companies that develop apps like analytics, medication management, patient monitoring, and security systems.

Now we have looked at it all so why not hire IoT developers for bespoke IoT app development services from us. Our Hire expert app developers are all set to help you in every possible way. They will be tasked with the responsibility of creating a highly functional and user-friendly app for your IoT project.

The development of IoT apps is easy and fast with our highly skilled IoT app developers. The technology of Hosted based API’s preferred in developing IoT apps. The average time required to develop a client-server application can be less compared to a peer-to-peer application which requires more time to develop. Hire IoT developers from Auxano Global Services to develop expert IoT apps for your business or enterprise. We will deliver them to you within your desired time frame.