Definition of IoT Platforms Gartner Information Technology Glossary

An IoT platform serves as a mediator between the world of physical objects and the world of actionable insights. Combining numerous tools and functionalities, Internet of Things platforms enable you to build unique hardware and software products for collecting, storing, analyzing and managing the plethora of data generated by your connected devices and assets. Users can use their product with remote control and real-time monitoring function, configurable alerts or notification, pluggable cloud services and integration with consumer’s smartphones or other devices. While connectivity and data acquisition are imperative for IIoT, they are not the end goals, but rather the foundation and path to something bigger. At a high level, an Internet of Things (IoT) platform is the support software that connects edge hardware, access points, and data networks to other parts of the value chain (which are generally the end-user applications).

For example, businesses can create highly targeted advertising campaigns by collecting data on customer behavior. By streamlining development processes and minimizing the need for specialized expertise, these platforms will enable manufacturers to adapt to evolving market demands and technological advancements rapidly. Less complexity shrinks the total time it takes to develop applications, allowing businesses to do more with fewer developers. This efficiency becomes especially valuable in light of the projected global shortage of over 85 million development engineers by 2030. There are various capabilities, levels and features available such type of variation in the platform is depends upon the unique objectives of the organizations and also their end-users.

Artificial intelligence (AI) and machine learning

Cost and availability must also be factored into your decision making, especially if you’re wanting a large number of prototypes. Also known as IIoT, industrial IoT devices acquire and analyze data from connected equipment, operational technology (OT), locations, and people. Sensors can connect to cloud platforms and other devices through a host of network protocols for the internet. Because IoT is a system of systems—a network of devices and software applications—rarely does an organization have expertise across all the relevant domains. IoT platforms are a vital component of the IoT ecosystem and a fast-growing market, expected to exceed $22 billion by 2023. IoT platforms provide a huge amount of value to businesses – allowing them to lower development costs, accelerate launch and streamline processes.

ThingsBoard is an open-source IoT platform for data collection, processing, visualization, and device management. It provides out-of-the-box IoT solution that will enable server-side infrastructure for your IoT applications. In an IoT system, IoT Platform plays a very important role in terms of development, management, scalability, and security. In a cloud computing environment like Alibaba Cloud, IoT Platform can greatly enhance the capabilities and efficiency of the IoT systems, together with the cost-effective, flexible, and O&M free cloud-native infrastructure and services.

HiveMQ Receives 2023 IoT Business Impact Award from IoT Evolution

A possible solution to this predicament is the implementation of the Internet of Things (IoT). Internet of Things platform is the most essential technology for improving the customer experience in different fields like retail, healthcare, hospitality and traveling. It ensures the stress of free interaction between the customer and the company. Enterprises look for the platform that features end-to-end data encryption so that data is protected. IoT platform should deliver regular security updates and demonstrate a commitment to ensuring that consumers fully understand their IoT security architecture.

• Modular solutions offer greater flexibility, allowing you to add additional technologies as and when required.
• Oracle’s IoT Platform as a Service (PaaS) lets you connect all your devices to the cloud and analyse the data from the devices to make better business decisions.
• Shipping companies use Industrial IoT applications to keep track of assets and optimize fuel consumption on shipping routes.
• For example, smart home security systems can automatically assess threats like burglary or carbon monoxide poisoning and call for help.
• It’s important to understand what these products are capable of so you can match one with your organization’s specific needs.

The constant connectivity that IoT enables, combined with data and analytics, provides new opportunities for companies to innovate products and services, as well as to increase the efficiency of operations. Indeed, IoT has emerged as one of the most significant trends in the digital transformation of business and the economy since the 2010s. An IoT platform built on IBM Cloud is a fully managed cloud service for device management, flexible and scalable connectivity options, secure communications and data lifecycle management. With IBM Watson IoT, you can collect insights from automobiles, buildings, equipment, assets and things.

Should you build or buy your IoT platform?

It delivers enterprise grade IoT with unrivalled reliability, security and performance. IoT analytics, which encompasses historical analytics, real-time analytics and predictive analytics, applies context to IoT data to reveal useful information, so you can make accurate, real-time decisions that deliver value. Powered by AI and IoT data, connected and intelligent assets can optimize performance, adapt to changing circumstances, and help ensure continuity.

Using industrial IoT platforms, companies connect, monitor, analyze, and act on industrial data in new ways to improve efficiency, maximize revenue growth, reduce costs, and more. At a high level, IoT platforms provide a head start in building IoT systems by providing built-in tools and capabilities to make IoT easier and cheaper for businesses, developers, and users. An IoT platform helps facilitate the communication, data flow, device management, and the functionality of applications. Industrial IoT (IIoT) refers to smart devices used in manufacturing, retail, health, and other enterprises to create business efficiencies. Industrial devices, from sensors to equipment, give business owners detailed, real-time data that can be used to improve business processes. They provide insights on supply chain management, logistics, human resource, and production – decreasing costs and increasing revenue streams.

When should your business use an IoT platform?

An IoT security solution is an absolute essential to doing business in today’s connected world. Without security, your business is vulnerable to hacks and data security breaches. Private information can become public and exploited, threatening the well-being and reputation of your company, your customers and business partners. An IoT platform then facilitates data transmission and applies analytics to the collected data. It allows you to access IoT device data at both a granular and high-level view. In a thick edge architecture, processing is more decentralized and occurs closer to data collection.

This involves looking at their professional background, previous projects, and even their current capabilities. If you want to be more thorough, check for their tech stack, existing customers, testimonials, and even reach out to some of their current users if possible. If the platform works well, its users will be more than happy to let you know so. This list is not exhaustive, and these platforms often overlap in terms of features and functionality.

How to setup IoT Platform on Alibaba Cloud

Particle offers an IoT edge-to-cloud platform for global connectivity and device management, as well as hardware solutions, including development kits, production modules and asset tracking devices. With Particle’s team of IoT experts, who provide end-to-end professional services, you can develop your product from concept to production. The HiveMQ Platform gives solutions architects, IT architects, DevOps teams and IoT software developers and engineers the foundation required to get the right data to the right place at the right https://www.globalcloudteam.com/ time. The platform enables any IoT use case from building connected products and services, to improving operations in smart manufacturing, to building new services for connected cars. Benefits also apply to specific processes of the oil and gas industry.[46] The exploration process of oil and gas can be done more precisely with 4D models built by seismic imaging. These models map fluctuations in oil reserves and gas levels, they strive to point out the exact quantity of resources needed, and they forecast the lifespan of wells.

That’s why security is built into the Cumulocity IoT software development process, woven into every line of code. Intelligent asset management, monitoring, predictive maintenance and reliability in a single platform. Keep in mind that when you are transitioning to scale, you might need to completely re-platform your product, and that’s okay. As Product Leaders, we need to set clear iot platform vendors expectations with Executives and Investors. As your product adoption increases, it shouldn’t be a surprise to them that your team will need to spend time refactoring the product for scale, which may mean transitioning to a new set of IoT platforms to support this new stage. Most of the Cloud platforms already include analysis tools, which may be enough for many applications.

Data Forwarding

As we mentioned, there is rarely a one-size-fits-all approach to this, but some traits are universal and you can look for them before you make a decision. However, depending on the type of platform, or its specific uses, this architecture can look very different. Bytebeam uses a much more advanced 7-layer architecture which looks like this. The expansion of the IoT market is expected to reach $525 billion between 2022 and 2027. With that in mind, companies have a wide range of options available to help them not just dabble, but to embrace and grow in the world of IoT. Enroll in the beginner-friendly, self-paced online course Introduction to IoT and Embedded Systems offered by the University of California Irvine on Coursera.