One of the significant technological developments in the last decade was the adoption of IoT(Internet of Things) by industries and enterprises. IoT is expected to be adopted by different industries and complement other technologies to make life better. The demand for this technology is expected to grow again after the pandemic, which caused many organizations to slow down initiatives. Some startups are meeting the new and evolving needs of digital transformation products with new IoT analytics solutions, IoT platforms, and other kinds of technologies that will fuel continued growth in the IoT market. Given below are some things that should be considered while developing IoT solutions
Installation and after-sale
These critical aspects are often neglected. Most IoTstartups focus on the hardware or the platform, and the installation and after-sales services are left neglected. Companies need to be attentive to customer feedback, and must provide good after-sales services. An IoT startup may work with other ventures as partners or subcontractors if they do not have adequate in-house support for installation and after-sales.
Security
A common IoT device in a highly integrated system can be easily used to attack the larger network, so it is critical for IoT devices to ensure network security. There are various strategies and protocols to ensure that security is adequate.
Hardware
The hardware used in an IoT system should be optimized with minimal interfaces so that the cost can be brought down. Once the cost is brought down, the adoption increases and one can get into a cycle of demand and supply.
Mentioned below are some IoT startups that are rising rapidly.
Jiobit
Jiobit is a manufacturer of wearable tracking location devices that can be used to track children, pets, senior citizens and specially-abled children in real time. The startup has announced that it is entering into a partnership with Noonlight, a safety technology company, to integrate Jiobit with all US 911 dispatch call centers.
Cognite
Cognite wants to redefine modern industrial data management with a platform that can contextualize the data of underlying IT and operational technology sources for better operational decision-making. With customers in asset-intensive industries like Mitsubishi and others, the startup is enabling IoT applications for predictive maintenance and product optimization.
SmartRent
SmartRent offers smart home solutions and products to property renters and home builders. The platform is designed to offer visibility of community assets, and enables users to control their smart devices. Their solutions power more than 155K smart units and homes. This Amazon-backed home technology solutions provider has agreed to go public through a merger. Their deal with Fifth Wall Acquisition Corp is expected to provide the merged entity with $513 million in gross proceeds. Their tech products automate daily operational processes such as parking management, locks, and thermostat operation. This Arizona-based firm’s customers include Lennar, Invitation Homes and Essex property trust Inc.