The advancement in technology has brought exemplary transformation in the software industry, which leads businesses to constantly seize new opportunities. IoT (Internet of Things) has paved the way businesses operate and serve their customers. Report says that the number of IoT-oriented devices in the world is predicted to increase to 43 bn by the year 2023.
Since IoT is easier to implement in a software product engineering service, it is opening the door for a variety of companies to leverage the IoT applications. Experts say that IoT can fuel digital transformation. According to the IoT analytics, the IoT installations in the world will grow to 27 bn by the year 2025.
Here, you will explore the impact of IoT on SaaS product development, along with the opportunities and challenges that businesses face with IoT deployment.
Page Contents
Opportunities with IoT in SaaS Product Development:
Centralized Management:
As SaaS applications exist in the cloud, that makes it easier to access by authorized users. They offer transparency while making it simple to troubleshoot issues. Centralized platform management allows the deployment of more cutting-edge technology to businesses such as AI and ML to deliver efficiencies with the relevant solutions. An IoT platform enables developers to create and test the IoT-based SaaS applications.
Predictive Maintenance:
IoT platform offers predictive maintenance to identify and resolve the problem proactively before analyzing the data. This approach is widely used in large enterprises where troubleshooting the issues and maintaining each machine is tedious. As per the analytics, the predictive maintenance market is expected to grow $21.20 bn by the year 2027.
Quicker Launch:
The IoT-specific platforms allow businesses to launch their applications faster by evaluating the concepts. An IoT SaaS trends helps businesses to leverage financial liquidity This is because businesses can save a huge cost on data processing infrastructure as they know earlier whether the IoT strategy is working as per their business model or not.
Scalability:
Businesses can easily drive IT deployment regardless of the geographical region as it does not require data processing infrastructure or servers for management. IoT SaaS trends can fulfill the needs for network communication infrastructure depending upon the deployment.
Challenges with IoT in SaaS Product Development:
Security:
Security is the major concern for the business that deploys IoT in SaaS product development. Developers who write code for SaaS products may not be as proficient as security experts which causes many vulnerabilities to the codes and devices from unauthorized access. Doing data encryption, proper penetration testing, and network connectivity can become challenging for businesses when deploying IoT in SaaS product development.
Design and Usability:
An IoT deployment is common in many software companies across the world. Thus, the need for a good interface and usability has increased. Neglecting the design and usability in SaaS product development can cause problems like poor connectivity and battery life. These issues may end up offering a bad user experience to the end users.
Costs:
The cost of IoT-specific SaaS product development is higher as the infrastructure is not hi-tech yet, and building the SaaS product development team with the required expertise to solve security issues is quite difficult. That makes it challenging for businesses to invest in IoT SaaS platforms.
Cross Platform Deployment:
The cross-platform deployment through IoT in SaaS product development can be challenging for the developers. This is because IoT device services comprise different protocols, functions, and architecture. A SaaS product should function efficiently for different operating systems and devices.
The Conclusion
The constantly growing world of IoT also needs to manage its complexities to make the SaaS product development process with ease. However, IoT has the potential to serve many companies with a plethora of opportunities. By keeping IoT as a solid foundation, SaaS companies can adopt agile methodologies to automate their software product engineering service business to a great extent while delivering customer satisfaction.
Leave a Reply