IoT App Development: Paybacks and Estimated Software Costs

 IoT App Development: Paybacks and Estimated Software Costs

The Internet-of-Things (IoT) is playing an essential role in information exchange and data access across sensor devices and connected applications. The demand for IoT apps is on the rise along with the increasing use of IoT-enabled sensor devices.

The retail sector tracks and monitor the fleet, the manufacturing industry remotely monitors the production area, warehouse, and supply chain logistics, and the automotive sector for downloading and monitoring self-driving vehicle performance and maintenance alerts, the role of IoT is on hype.

These are the major trends behind the massive growth and success of IoT software solutions across the globe. According to market analysts, the number of IoT devices will reach 29.4 billion by 2030 from 13.1 billion in 2022. Hence, a balanced demand for IoT mobile apps is also expected in the years ahead.

If you want to invest in IoT mobile apps and looking to hire an IoT app development company, you are in the right place. Herein, we have given the most useful information about the benefits and development costs of IoT mobile applications.

Let’s start our session with top use cases of IoT by sector. 

Top Benefits Of Using IoT Apps In Various Industries 

1. IoT Use Cases In Retail

IoT technology-powered retail apps are most useful in getting security alerts, inventory levels, stock information, and streamlining fleet tracking functionalities.

Further, the role of IoT in the retail industry is also gaining popularity for streamlining store security and product security management operations.

IoT is widely used for the development of mobile apps that monitors inventory levels and sends immediate alerts to store admins for maintaining required quantities as per the market demand.

Next, IoT mobile apps are also widely used for accessing warehouse operations 24*7 from remote locations. Since IoT sensor devices will broadcast the gathered information to the cloud platform, retailers can remotely manage the warehouse and track the stock levels smartly.

Be it IoT-powered inventory management apps or IoT-powered warehouse management apps or apps for productivity tracking, the revolutionary IoT technology will streamline operations, reduce cost overheads, reduce product theft risks (using IoT-based RFID anti-theft tags), and overall increase operational efficiency.

Recommend To Read: How Are AI Mobile Apps Making Retail Sector So Interactive & Enriching the In-store Customer Experience?

2. Top IoT Use Cases In The Healthcare Industry

IoT mobile apps are making healthcare services more advanced and connected. Nowadays, IoT-enabled fitness apps, self-health tracking apps, elder care & health monitoring apps are popularizing across the healthcare industry.

Further, IoT-based mobile app development is also assisting service providers in monitoring patients’ health from remote locations.

Accordingly, IoT technology is increasingly integrating into mood-monitoring app development and stress-level tracking applications. IoT-enabled wearable devices will efficiently track the user’s stress and identify depression symptoms.

Hence, healthcare service providers can monitor the patient’s mood swings and deliver the best care services to save their lives from sudden heatstroke’s due to high-stress levels.

Fitbit is the best example of IoT app for tracking fitness and workouts. Get the cost of Fitbit-like app development! 

3. Applications of IoT In E-commerce

The applications of IoT in e-commerce apps are transforming the way of businesses interact with their targeted audience. To optimize the online shopping experiences of the users, E-commerce service providers are combining the capabilities of Artificial Intelligence, Machine Learning, cloud, and IoT.

Yes. E-commerce was already a proven sector where it offers superior convenience and comfort to the users to buy products online and get them at their doorsteps. The next-generation IoT technology has been adding more spice to such an advanced service segment.

The role of IoT in e-commerce for supply chain management, inventory management, and remote assessment of products for tracking features and functional defects is unbeatable.

Moreover, IoT is being used in e-commerce for optimizing delivery routes and ensuring product deliveries are faster. Hence, enhanced logistics and reliable product deliveries at doorsteps are only possible with IoT mobile apps.

Further, the use of IoT potentiality in the design and development of mobile-friendly and user-specific e-commerce portals is on the rise.

Developing E-commerce App in 2023: Features & Cost

4. IoT Apps For Home Automation

The home automation market size continues to increase year over year as people switch to convenience. Over the past few years, IoT mobile apps have development for the design and development of applications that allow users or businesses to have remote controlling power on their smart devices.

For instance, through apps, people can on or off sensor-equipped smart home devices all the time whenever they want. Amazon Alexa, Honeywell Home App, and Google Assistant are all a few best IoT apps that are being used for accomplishing various tasks faster and easier.

Recommend To Read: Trends Of Voice Assistants And AI In Mobile Application Development

5. IoT Apps For Security

IoT in security is also one of the top trends of IoT in mobile app development for Android and iPhone. We have already many IoT apps in the Google Play Store and Apple App Store for tracking the location of kids, vehicles, or pets.

IoT sensor tags or GPS navigators can be attached to the kid’s wearables or accessories for tracking their locations. When kids or pets go outside of geo boundaries, the sensors will send immediate alerts directly to the device-connected app.

Let’s hire our IoT mobile app developers!

6. Applications of IoT In Automotive Sector

The implementation of IoT technology for creating a communication medium between self-driving cars and admins is increasing year after year. IoT in automotive is playing a key role in gathering vehicle performance and other fuel and tire pressure-related information and broadcasting it to mobile apps through cloud platforms.

When the device triggers an abnormal activity or any set values have been violated, the sensor equipment will trigger the event and notifies the admins about the occurred issue. Using IoT, the level of fuel, temperature level, air pressure level, and in-car air quality everything will be automatically noticed and transferred to respective applications.  

How Much Does It Cost For IoT Mobile App Development?

The estimated cost of mobile application development with smart IoT features will cost around $50,000 to $150,000. As the technology is not yet fully rolled out across industries, the cost range of IoT development might be high and also varies depending on your application’s features and functionalities.

It means that the average cost of an IoT app developed for an e-commerce sector would be different from an IoT app that is created for either the manufacturing or the security and surveillance segments.

Be it a manufacturing app, retail app, e-commerce app, or healthcare solution, the cost of IoT app development will be impacted by the following factors:

• Choose the IoT app development process.
• Required IoT application’s features and functionalities
• IoT app development platform (Android or iPhone or Web operating systems)
• IoT mobile app cost will depend on the application type (Native, Hybrid, or Cross-platform)
• The cost of the IoT solution will vary based on the app developer’s team size and hourly rate.
• Features testing, MVP deployment, and application performance tracking & updating are other hidden factors that impact the overall cost of the IoT application development on either Android or iOS platforms.

Get the cost of IoT development from the best mobile app development company like FuGenX Technologies. 

Wrapping Up 

The benefits of IoT app development in this smart and advanced digital world will leave numerous business opportunities to save money, run business smartly, and generate revenues. Every industry can reap the benefits from IoT mobile application development.

As discussed in this article, IoT apps can be used for tracking people or object locations, production tracking, inventory management, warehouse management, distribution fleet monitoring, home automation purpose, and many more.

Would you like to invest in IoT app development?

FuGenX is the best custom mobile app development company in India. We have a digital presence across many countries in North America, Europe, and the Middle East. We design and develop impactful mobile apps (Android and iOS) for businesses across various industries.

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