What are the 7 hidden costs of IoT [Guide]

What are the hidden costs of IoT Learn and recognize 7 potential hidden costs in advance

IoT projects rarely scale from scratch, reach out through the whole organization and generate business value. IoT has become an integral part of our everyday lives – at work and in our homes, but it has not happened overnight. Many global organizations took their first steps in IoT a decade ago and later on brought in other solutions and integrated them with the existing devices. As technology keeps evolving, the need for integrations between multiple systems grows exponentially – as does the likelihood of issues between several systems and, therefore, hidden costs related to them.

Download the Guide to learn and recognize 7 potential hidden costs

Download the Guide to learn and recognize 7 potential hidden costs
Other things you’ll learn with this guide:

How Industry evolvement creates new needs and what are the requirements of a cost-efficient solution.

Our world is data-driven, with many devices consuming data 24/7, from smart locking mechanisms to location mapping devices – not to mention the mobile devices in our pockets. Data consumption also means power consumption. Power consumption means the device must have a reliable source of energy. The chain, or more precisely, the network of factors, is so extensive that even a small change towards efficiency can significantly impact the total running costs of your IoT infrastructure.

At Haltian, we have several use cases of streamlining the IoT solutions with and for our clients. Connectivity, reliability, and energy efficiency are some of the goals our clients wanted to reach with our help, but they all serve the same purpose; cutting down the hidden costs. This guide will help you detect the hidden costs of IoT with insights from a few of our clients.

Synopsis

How can I avoid hidden costs when the environment is constantly evolving? Innovations and solutions emerge all the time, so it might be difficult to distinguish the necessary ones from the nice-to-have solutions. IoT is a massive yet ever-growing business, and there are vendors in practically every large city in the world. At some point, you might wake up to the reality that you have a plethora of different solutions that each solve a problem, maybe two, increase efficiency here and reduce costs there. Still, the overall price tag seems relatively high. This is a common problem and a perfect example of hidden fees – accumulated services and solutions. So what should be the essential requirements for finding the correct solution for your current need? What if the solution doesn’t lower your operational costs but increases them?

This guide should help you recognize some of the most common and critical hidden costs from an IoT solution and technology provider. These should assist you to compare different IoT solutions and evaluate the best for your needs. Hopefully with a “business first” mindset instead of a “technology first” approach.

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