Short answer
The cost has three parts: hardware (sensors, electronics, enclosure, manufacturing), software (device firmware, cloud, app or portal, integrations) and maintenance (connectivity, servers, updates). If off-the-shelf sensors can be used, the solution is cheaper than developing an entirely new device.
The main cost factors
- Off-the-shelf or new hardware — ready-made sensors with a standard connection are cheaper than a custom device with its own PCB and enclosure.
- Number of devices — the costs for one device are different from those for a series of hundreds.
- Power and environment — batteries, humidity, temperature, impact resistance.
- Connectivity — Wi-Fi, BLE or a mobile network.
- Software — the cloud part, an app, reports, integrations with your systems.
- Certification, if the device is sold.
How to reduce the risk
- Prototype — test the idea at minimal cost. See how to build an IoT device prototype.
- Pilot project — a few devices in real conditions.
- Only then — scaling up.
The return
Calculate what the data will give you — less downtime, less manual work, fewer losses. See how to calculate whether automation pays off. We can give a more precise estimate after a conversation — get in touch.