The IoT Dilemma: Build or Buy?

It’s easy to get excited about the promise of the Internet of Things (IoT). But translating that excitement into real life IoT products and solutions that delight customers is anything but easy. In fact, it’s really difficult.

The problem is inherently complex – an IoT solution spans hardware, software, cloud, security, applications, and big data analytics. Each of these areas is challenging on its own. With IoT, you not only need all of them to work together but you also need them to work effectively with your physical product.

What’s more, the challenges don’t end when you’ve designed and manufactured your IoT product and delivered it into your customers’ hands. You also need to operate, maintain, and enhance it throughout its entire lifetime. These additional costs dwarf the basic device to cloud connectivity costs, and consume significant time, effort, and resources.

And yet, your customers expect you to offer them connected products that blend into their lives or business workflows. This means you must connect and manage your IoT devices; enable interoperability with third-party devices, apps, and services; and use the data generated by your (and third-party) devices, apps, and services to improve outcomes.

A key decision that every device maker needs to make is this: Build or buy IoT technology? In other words, should you build the entire IoT solution and maintain it on an ongoing basis? Or focus your energies on your core competency of building great products and rely on an IoT platform that is someone else’s core competency?

Download the “Build vs. Buy: The IoT Dilemma” to understand what it truly takes to build an IoT solution, and the questions you must answer to determine the right approach for your organization.