Internet-connected devices are set to disrupt the consumer electronics industry in the coming decade. It is estimated that the Internet of Things market is poised to reach 500 million USD by 2020. Tech-savvy customers, increased adoption of smartphones, and need for energy efficient consumer devices are the driving force behind the IoT revolution. The traditional business models are undergoing a transformational change by infusing intelligence in everyday electronic items such as refrigerators, washing machines, microwave oven, and implantable medical devices etc.
However, designing an IoT system which works seamlessly has become increasingly complex owing to different standards, and development paradigms. For the past decade, major electronic goods manufacturers are struggling with this challenge of how best to incorporate sensors, software, and intelligence to normal devices. There are monstrous challenges in design, development, and deployment of IoT applications. Manufacturers struggle with sourcing, setting up of the infrastructure, integration, and maintenance of the connectivity infrastructure to provide a seamless experience to the customer. Therefore, selecting the right mobile app development company who can merge technology and business needs skillfully, is paramount.
A thoughtful approach to the design and implementation strategy can unlock the vast potential of unique products and new services in the consumer market. Below are the various ways in which IoT mobile apps can add value to electronic goods businesses.
IoT app unlocks new business models
In today’s on-demand economy, customers want to go for subscription-based payment models rather than an ownership model. The electronic goods manufacturers who can expertly integrate IoT mobile application with payment solution is in a unique position to dominate the consumer market. This can trigger new “as a service” models that also give great satisfaction to customers. It enables the companies to make data-driven business decisions and formulate innovative operating models
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IoT app makes remote maintenance a reality
The intelligent sensor along with the IoT app can help technicians to identify problems remotely and proactively rectify problems. This will save precious time and guarantees 100% uptime of the appliances. Dealerships can keep their supply chain and spare parts ready in advance drastically reducing the repair time. They can monitor any customer’s appliance performance in real time and whenever there is a breakdown, they send their technicians immediately without the customer having to call them in the first place. The barrier between customers and organizations diminishes with the help of IoT. It allows companies to reach customers in profound ways.
IoT app enables better user experience
IoT apps can greatly enhance customer experience, boost performance and operational excellence and lead industry transformation. In a crowded marketplace of connected appliances, differentiation is key and an IoT app tailored to customer sensibilities and requirements can win over the market. It can help companies monitor product performance, get real-time customer feedback and give insights for improvements throughout the product lifecycle. It can intimate the customer and the organization when the product is going to expire for e.g. milk kept in refrigerator and can do proactive ordering thereby speeding up the purchase process
IoT app helps accelerate Product innovation
Having a better designed IoT mobile application gives a new perspective in solving the problem of user experience. The already evolved smartphone ecosystem can give a rich experience to the end user by giving highly interactive and visual information. A smart IoT app can leverage the data available through internet connectivity and provide crucial insights to the manufacturers about the product usage and customer satisfaction. This gives an opportunity to companies to better position their products in the market, enable them to experiment with different product features, get real-time feedback on pricing etc. Better understanding of customers will lead to big breakthroughs and guide the company’s technological vision
IoT app empowers corporations to gather customer insights and Analytics
A sophisticated app developer can help deliver cutting-edge IoT industry analytics, unparalleled scale, efficient lifecycle management and an engaging, integrated end-user experience. With the data, companies can do market research activities such as customer demographic profiling, segmentation. This can enable corporations to add new product features according to the customer’s needs and reap more benefits. The data collected empowers them to make knowledgeable business decisions on a day to day operations.
IoT app eases human productivity measurement
Wearable IoT is an emerging segment which shows a lot of promises. It has the potential to revolutionize the health and medicine segment with heart monitoring, body temperature monitoring etc. Corporations can utilize this latest technology to monitor staff productivity, their happiness levels and their motivation to work etc. This enables them to take corrective actions in their business processes and help them in building a high-performance task force. It provides critical data to enable cost reduction, efficient use of resources and enhanced security.
IoT app helps in optimizing inventory. AI and IoT are doing great in terms of securing new and updated machines with IOT and AI technologies are saving workplace injuries.
Connected products will help business in monitoring and manage their inventory process in real time. They will be able to know the exact location of the product and manage them automatically improving the warehouse storage and logistics delivery. The expensive and cumbersome task of manual scanning the inventory will become history soon. Operating costs will reduce and enables to streamline cost. It can also have automatic reordering of products which are below threshold levels.
Now you must have gotten the idea how IoT Apps works brilliantly for electronics goods manufacturers.