Successful deployment of IoT often fails due to unclear costs

Despite the promises of streamlined processes and new business models, uncontrollable and unclear costs where IoT is concerned can be a recipe for disaster. This is particularly true in complex large-scale industrial applications. The cost of connectivity, devices, software licences and time spent managing the network are just some of the factors that could be harbouring hidden costs. Despite the falling cost of technology, these persistent challenges highlight a clear need for a simple, predictable and scalable cost model. Thingstream’s Neil Hamilton explains how a mix of fixed-price connectivity and only paying for the data you need could reward businesses with massive savings and simplify large-scale IIoT.

The past Hannover Messe was clear: Companies looking to deploy IoT solutions on a large scale expect fast and easy-to-manage connectivity solutions. You want to capture data quickly and respond immediately to the collected insights. However, the reality is different in the experience of Thingstream.

Thingstream advocates fixed-price connectivity for IoT deployments. “With so many potential indirect costs for companies involved in IoT solutions, the critical cost issue can quickly change. A solid fixed-price solution with an all-in-one plan is essential for planning future IoT spending, “said Neil Hamilton, VP Business Development, Thingstream. “According to McKinsey, 127 new global IoT devices are being connected every single second, highlighting the need for companies to maintain the best possible control of every device in their ecosystem.”

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