Whether you’re trying to improve your home’s security, monitor your water consumption, or automate your business processes, you’ve probably considered the many possibilities of Internet of Things applications. However, there are a few things to keep in mind before jumping on the bandwagon. These include real-timeness, security, cost, and scalability. Let’s look at some of these issues one by one. In addition to the benefits, Internet of Things applications can be incredibly expensive.

Cost

The cost of Internet of things (IoT) applications varies depending on the features and complexity of the application. The cost of development depends on several factors, including the type of hardware used. The hardware accounts for 70% to 80% of the total production cost. Once the hardware is selected, the cost of development will increase accordingly. To determine the exact cost of an IoT app, a minimum viable product (MVP) approach should be followed.

Real-timeness

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