How to Build Your Own IoT Product?

What is an IoT product?

IoT product is any physical device connected to the internet, gathering and sharing data about its user, how it is used, or/and in which environment it operates. Imagine the internet of things as a huge network of connected gadgets & tools that cooperate together, using all the available data to improve user experience and simplify our life. From smart sockets and house water sensors to AI-driven cars: every product is created with only one goal - to satisfy customers and make their routine enjoyable.

Even if entering IoT for companies confuses at the first glance, there are plenty of internet of things development services newcomers can rely on. According to IoT Analytics, the number of devices connected to the Internet of Things will exceed 25 billion in 2025. So, you think “This is clearly the time to step up!”. But, what is the suitable entry strategy for the IoT market? Who and how exactly can benefit from data generated in the IoT? Here are the answers we got for you.

IoT product development process 

First one - how do you create something connected to the IoT? These are fundamental steps that you will face when developing an IoT product:

1. Specify your device's key components, functions & features.

2. Build a background of user experience from similar or comparable devices.

3. Create the prototype. Architect the tech stack and the software. 

4. Build a realistic market entry estimate and project future development best & worst case scenarios.

5. Enter the market

6. Collect more data on the go. Improve, update and support your product, to come up with the ideal solution for your customer by making data-driven decisions.

7. Improve your algorithm, deploy AI, deep, and machine learning.

Which industries can benefit from IoT use? 

The industries where the internet of things can be applied are countless. Well, tritely, we all use consumer electronics. Some transition to a renewable energy lifestyle and are obsessed with solar-powered devices: from generators and panels to self-charging garden lights and power banks. The healthcare industry is stepping into the IoT revolution,  with more complex products, from sensors on the wrist detecting a heartbeat to bioprinting new cells and even human organs.

Right now IoT invades sports tech, industrial production, agriculture, logistics, automobile production, biotechnology, etc. The application is only limited by the imagination of the manufacturer. So staying aside feels like missing the next big thing.

How to join IoT revolution?

So you have a framework for the step-by-step process of IoT product development. Now it is up to you to pick: whether to develop everything by yourself or hire a pro who is capable to support you in this journey. The choice is usually made based on the company’s own expertise in the following areas:

• developing complex technological devices,

• launching products for new markets,

• software development,

• research capabilities

First, assess your strong points and efficacy in each field. Now, it is time to evaluate whether you need a tech consultancy service or specified support to help you scale the existing product. Maybe you need an all-star team to develop the product from scratch, or your company can walk this path self-dependently.

Best solution for IoT development & research

Whatever the choice, sharing project evaluation in the early stage with an expert can save you nerves and money. At Lemberg Solutions the team of 200 tech professionals helps not only to avoid newbie mistakes. The company successfully delivered IoT development services to more than 300 clients in Europe and North America. With expertise in web and mobile development, data science, embedded engineering, quality assurance, cloud engineering, and DevOps Lemberg Solutions can dive deep into any industry and turn products into IoT success-story.