How Essential Are IoT Platforms for Effective Device Management and Data Security?

In the ever-evolving realm of the Internet of Things (IoT), the utility of a robust platform cannot be overstated. Much like an operating system for a computer, an IoT platform facilitates application creation, data management, analytics, and ensures data security—functions that simplify and economize the endeavors of developers, managers, and end-users.

Unlike more established markets where a few platforms dominate—such as iOS and Android in mobile, or Windows and MacOS in desktop—IoT presents a vast and varied landscape. A search on Crunchbase reveals over a hundred venture-funded IoT platforms, not counting major tech entities like Microsoft, IBM, and SAP, or industrial giants like GE, Bosch, and Siemens, each entering the fray with their own offerings.

IoT platforms cater to diverse needs; from specific industries like commercial real estate to personal applications such as family health. Some are tailored to unique types of devices, including augmented-reality headsets, while others focus on functions critical to sectors like manufacturing. There are even platforms designed exclusively for pets.

A platform in the IoT context implies a blend of hardware and software, including storage, computing capabilities, and security measures. By abstracting common technical functions, platforms allow developers to concentrate on solving specific problems without the need to reinvent the wheel for each application. This not only accelerates development times but also significantly reduces costs, making IoT platforms an indispensable tool in today’s digital ecosystem.

Source: https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/making-sense-of-internet-of-things-platforms#/