The Internet of Things (IoT) is changing manufacturing as we know it.
From boosting efficiency, to reducing costs, and gaining a competitive edge, the IoT is widely seen as the future for manufactured products.
When approaching the IoT market, manufacturers are likely to make a huge mistake: underestimating what it really takes to make that leap.
That’s because it requires expertise and experience in every aspect of IoT operation - from the communications chips embedded in the connected product, through cloud computing and network security, to end-user control of the product via a mobile or web-based application— to create a high-quality connected product.
Before deciding if they should tackle building their own IoT platform, manufacturers face additional questions:
- Do they have a clear understanding of what building an IoT platform entails?
- Can they build appropriate connectivity, security, responsiveness and reliability into every aspect of IoT operation?
- Do they have the in-house expertise in all the areas of technology that are involved, including their interactions and handoffs? If not, how much time and cost will it take to gain that expertise?
- Will we be able to keep pace with the technologies and users’ expectations as they continue to evolve over time?
- In the end, does it make more business sense to build or buy an IoT platform?
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