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Investing in IoT applications: All you need to know

The technology world has witnessed the penetration of IoT in recent years, and it has been a game changer in many industries. Backed by capabilities like mobility, IoT has set new benchmarks in business performance, innovation and user acceptance. Forward-thinking companies are integrating IoT-backed apps that can refine overall business performance.

A survey estimated that presently 26.66 billion IoT devices are active in 2019. People spend a lot of time on mobile apps; integrating IoT technology into these apps makes them powerful.

Besides, sensor-enabled bridges, buildings, pavements, appliances, smart vehicles and wearables are already in the market. As a business leader, you surely want to know how investing in IoT can benefit your organization.

Why are companies using IoT-enabled technologies?

IoT consists of a network of devices, connected through the internet. It is capable of sharing data between the nodes. This indicates that all the utilities and devices would remain connected to each other. Users can enjoy constant communication in the digitized environment. Business firms can gain incredible benefits from this advanced technology.

Maintaining the security of data is a concern for every organization. IoT has already bolstered data security, and many companies are presently collaborating with IoT app developers to integrate the sophisticated technology.

IoT applications you might integrate into your business

Here are some IoT applications that you might consider integrating into your business:

Supply chain
The success of a business firm largely relies on an efficient supply chain. You can get the supply chain optimized using IoT. Experts are working on technologies that will enable companies to install sensors in goods that are being shipped. This will help you know the condition of the products and intercept any dented product before it reaches the customers or the shelf.

IoT can also help enhance brand loyalty. Presently, the free-range movement trend reveals that a large number of customers is interested to know where the products they are using come from. When they are able to track these items through the supply chain, it enhances the transparency in business. This brings companies better branding opportunities to benefit from.

IoT in insurance
Insurance companies can immensely benefit from IoT. Customers making safe choices are rewarded by insurance providers in most instances. For instance, the insurance provider may cut rates in case a customer is unlikely to file a claim. Integrating IoT apps and technology will streamline this process to a substantial extent.

This concept is applicable to the auto insurance sector as well as homeowners’ insurance. You can also use IoT programming to connect multiple devices over a network. Homeowners can now install security systems, locks and other safety features through automation.

Insurance providers can see all the relevant data through their IoT device management system. This will lower premiums to a substantial extent. Reputed insurance companies are already collaborating with IoT developers to build such applications.

Adding security
One of the most important advantages of using IoT in business is its ability to enhance security features. Today, threats from cybercriminals remain a concern for businesses. App developers are coming up with IoT-backed mechanisms that combat these cybersecurity issues. This process can keep your business secure, particularly if you are dealing with finances.

Presently, companies need IoT-backed apps that are safe and ensure the privacy of their users. Business firms from various segments of the industry are exploring the security benefits of IoT.

These applications can add an extra security layer and keep data private and secure from cyberattacks.

How IoT affects mobile app development

The mobile app development industry has witnessed a new scale of innovation with IoT. These systems are now capable of handling any mobile gadget or device where the end users remain at any given location. Other affects include:

Connected communication efforts
IoT is powerful and helps in embedding apps and devices into a single system. For example, people can now check security cameras, track cabs or switch on lights using IoT functionality on mobile devices.

Life has become easier for users as well as app developers. Users are able to manage multiple systems using IoT from a single device. At the same time, developers can put in a lower amount of effort during the app development process. Developers can now create multiple apps in the timeframe previously used to develop a single app.

Shift in focus
Previously, the objective of mobile app developers was to build a system that was user-friendly. However, with the inception of IoT, the focus now lies in crafting feature-rich apps. These IoT features help businesses stay ahead of the competition and fulfill customer expectations.

You need to prioritize the needs of users and the trends of current market while developing apps. The usability of IoT-backed apps and the features they provide simplify life for customers. It is for this reason business firms are focusing on building customized apps for specific purposes.

Centralized apps
Since the commencement of IoT in the market, it has welcomed several possibilities and opportunities. The focus presently lies in providing users with a centralized platform where they can manage multiple devices. As a result, one can enjoy more cost-effective systems and, at the same time, businesses can manage end-user needs seamlessly.

Beacon technology is a major technology in this. These IoT-embedded devices are fixed to certain locations. Many companies dealing with mobile app development are integrating beacon technology that involves the emission of a signal from the beacon. Information is conveyed by the signal in the form of a notification alert on mobile devices. Here, centralized applications can manage other devices from a particular location from a single device.

Why is IoT growing?

IoT has made its mark evident in almost all fields related to technology. With technologies evolving, it is likely that the emerging trends of IoT will have a substantial effect on personal lives as well as every industry.

For marketers and businesses, IoT can make operations easier and more efficient. Considering the potential that IoT offers business firms, it is wise to invest in these systems.

IoT programming trends are still evolving, and a lot is yet to come. According to experts, applications based on IoT will bring several sophisticated products in the coming years. While smart homes have been translated into reality, other opportunities still remain a business resource. Data from IoT devices can be used to explore the habits of customers and analyze the same.

It is advisable to partner with an IoT developer capable of creating products and systems that will streamline your business. In the process, you can offer better value to your customer base and gain an edge over your competitors and prove your brand loyalty. This makes investing in IoT applications a wise decision.

All IoT Agenda network contributors are responsible for the content and accuracy of their posts. Opinions are of the writers and do not necessarily convey the thoughts of IoT Agenda.

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