IoT Consulting Services: What They Are & Who Needs Them

Just a couple of years ago, IoT was something for huge corporations and big companies only. Today, it’s for everyone. The number of connections keeps growing every day and, as they say, it may reach an enormous 32 billion by 2030. Of course, your business doesn’t want to stay away. And it doesn’t have to, no matter its size or specialization.

What Is IoT Exactly?

To begin with, let’s break down the concept as such. The Internet of Things (IoT), is, in fact, a network that connects things. These things or, better say, devices communicate and exchange data with each other over the Internet. You very well know those examples where a smart thermostat adjusts temperatures based on your preferences, about which they learn from other devices. In other words, different “things” collect and share data to make smarter decisions.

Now, why is IoT such a big deal? Because this exchange of information between devices opens quite exciting opportunities for businesses such as

improving efficiency,
reducing costs,
and making users happier.

This is exactly why businesses in different spheres are now turning to custom software companies that would help them adopt and streamline IoT operations.

5 Popular Types of IoT Services

So what can a custom software company actually do for a business in terms of IoT? Quite a lot, in fact!

1. Connected Ecosystem Setup

This service involves integrating various IoT devices, sensors, and systems that are supposed to work together. As they do so, their interaction allows for real-time process monitoring, automation, and optimization. For instance, in a smart factory, machines equipped with IoT sensors can

streamline production lines,
reduce downtime,
and predict maintenance needs.

Best for manufacturing industries, smart homes, and logistics companies.

2. Compliance Expertise

The regulatory landscape is always a headache. Especially the landscape of IoT which is relatively new and thus unfamiliar. Sometimes, it’s just safer and less exhausting to outsource this stuff to compliance expertise services. They can save your business from lots of trouble including

fines,
legal issues,
and, most importantly, damaged reputation.

Best for businesses in highly regulated industries like healthcare.

3. Custom IoT App Development

Businesses, especially small ones, are incredibly diverse. They have different needs, operate in different contexts, and so off-the-shelf IoT solutions might just not cut it. They need custom IoT apps instead (i.e., bespoke software that would integrate with all their IoT devices well).

Custom apps are particularly sought after in the retail industry. With their help, a retail business can track inventory levels, manage supply chains, and analyze customer behavior. When customized, IoT apps can be very insightful — they may show businesses opportunities that they may be unaware of.

Best for finding tailored solutions to operational issues.

4. Prototyping and PoC Design

Prototyping and Proof of Concept (PoC) design services test ideas before those would be fully implemented. This is very useful because a business can validate its IoT concepts and see if those are as feasible and effective as they assume them to be. Experts create a prototype and conduct trials with it to see how it performs in real-world conditions.

Needless to say, it’s that type of service that directly impacts risks and costs. It is especially helpful to young companies that don’t have huge budgets yet and that cannot afford costly mistakes.

Best for startups.

5. Hardware Engineering

Then, there’s engineering, of course. Many businesses need to design and develop the physical components of IoT systems for them. And so specialized services create things like

custom sensors,
devices,
and connectivity solutions.

This is, in fact, the creation of an IoT solution as such. Professional consultants help to select the right components, design circuits, and all that. Plus, they always test the hardware.

Best for companies that want to build a strong IoT network.

Who Needs It

Now, the question arises as to what type of business could benefit from such services. The short answer is any business that wants to complete a particular task, for which IoT may be fit. As you have just seen, these services are very varied and so are their use cases. This is why it is more about when a business uses IoT rather than about what businesses use it. But still, the benefits for some industries are simply more apparent.

Manufacturing

Manufacturers can set up connected ecosystems with integrated IoT sensors to monitor equipment. Such ecosystems help them to predict maintenance needs and streamline production. The benefits are abundant here including

reduced downtime,
lower maintenance costs,
and higher productivity.
Healthcare

The healthcare sector is particularly sensitive in terms of compliance and data security. Healthcare providers can implement IoT to adhere to strict regulations and enhance patient data privacy. There are numerous examples of IoT applications in healthcare including

remote patient monitoring,
smart medical devices,
and diagnostic tools.

All of these are designed to improve patient care.

Retail

Retailers depend largely on data-driven insights. IoT provides them with the latter as it helps to track inventory (typically in real time) and analyze customer behavior. Based on this, a retailer has good chances to optimize supply chains.

Prototyping and PoC services are particularly useful here. Retailers can test new cool things like smart shelves or automated checkout systems to see if they really need them.

Energy

Utilities and energy companies are above all else interested in monitoring and managing infrastructure and doing so efficiently. IoT helps them to develop (and if we are speaking about specialized services, also implement) smart grid solutions and predictive maintenance systems. The benefits may involve

reliable service delivery,
lower costs (this one’s actually common for all service types and industries),
and support for sustainability initiatives.
Logistics and Supply Chain Management

We already mentioned some examples related to logistics above. All in all, the idea is that this sphere needs connected ecosystems and real-time data more than anyone else. IoT systems can be used for multiple purposes including

tracking shipments,
monitoring environmental conditions,
and optimizing routes.

The result is the same as always — more things done with fewer resources spent.

Finance

Last but not least, the financial sector can win from IoT mainly thanks to better security and customer experience. You’ve probably encountered IoT applications in finance in your everyday life. These are smart ATMs and biometric authentication systems in the first place.

As you see, the Internet of Things has a lot to offer for businesses. It’s very similar to the communication between people. When all your departments (or individual employees) communicate and interact, the results are always better than when they don’t. Here, it’s the same. When things involved in your operations exchange data, you have more knowledge about what’s going on inside your processes.