Enterprises and big businesses have many options when it comes to IoT application and device management. Knowing the reality behind building a dedicated IoT platform or hire the services of IoT platform from the vendor, allows the business to make effective technology and capital-related decisions.
Almost every other day, IoT platform developers and connectivity service providers speak with the business houses who are looking forward to having their own dedicated and customized IoT AEP (Application enablement platform) or IoT DM (Device management) platform. The idea is simple, that the business wants to have a complete control over the technology it deploys, so they can select to hire the professionals to build the perfect and cost-effective platform.
After the discussions, there are two possible scenarios, sometimes everything works as anticipated and sometimes it the business understands there are many things to consider which includes:
- It needs more money and capital to build a platform which offers functionality as expected
- It needs more human resources to support the platform in real-time
- It is very difficult to keep platform up-to-date in comparison to the features provided by the best vendors of IoT platforms
- The first phase of the platform is great to run, but modifying and scaling the platform to meet future needs is become very difficult because of the defined platform structure
Just remember, there are many other qualitative components that an enterprise should think of while opting to buy or build. These components include time-to-market considerations, internal competencies, competitive environment, on-going support requirements, and more.
So, what will become the total enterprise cost of developing an IoT platform of enterprise-grade in compare with purchasing the service from a third-party DM or AEP IoT platform vendor? The cost involved completely depends on the IoT solution and the company wants to deploy.