In the dynamic landscape of Industry 4.0, Industrial Original Equipment Manufacturers (OEMs) are navigating a transformative journey towards digital innovation. With the advent of the Internet of Things (IoT), harnessing data-driven insights and optimizing operational efficiency has become paramount. As Industrial OEMs strive to deliver solutions tailored to unique client requirements, the decision between building or buying IoT solutions has gained significance.
In this article, we delve into the considerations surrounding this decision and explore how leveraging Flex83, IoT83’s Low/Pro-Code Application Enablement Platform (AEP), empowers Industrial OEMs to develop effective custom IoT solutions while reducing capital expenditures and development times.
The Build vs. Buy Dilemma
As Industrial OEMs embark on their IoT journey, choosing between building a solution from scratch or purchasing an existing platform becomes a pivotal decision. While off-the-shelf solutions offer convenience, they often fall short of catering to the unique requirements of industrial operations.
On the other hand, custom-built solutions ensure a seamless fit with the organization’s processes and goals. However, concerns about development time, resource allocation, and capital expenditures often overshadow the benefits of customization.
This is where an AEP gets you the best of both worlds. The No/Low-Code assistance allows Industrial OEMs to roll out an application super-quick with minimal code. Pro-Code enables them to build more complex and customized applications, allowing better access to the source code and greater control over aspects like security, performance, and scalability.
The Custom-Built Advantage
Custom-built solutions provide Industrial OEMs with a competitive edge in a rapidly evolving market. These solutions can be tailored to address specific pain points, integrate seamlessly with existing infrastructure, and scale according to business growth. By building a solution from the ground up, OEMs can ensure that the IoT ecosystem aligns perfectly with their operational needs. This alignment fosters efficiency, maximizes ROI, and enhances customer satisfaction through solutions catering to clients’ exact requirements.
Understanding the Role of an Application Enablement Platform (AEP)
At the heart of building effective custom IoT solutions lies the Application Enablement Platform (AEP). An AEP serves as the foundation upon which Industrial OEMs can build, deploy, and manage their IoT applications. It provides the necessary tools and frameworks to streamline development, integration, and data management processes. An AEP simplifies complex tasks, accelerates development cycles, and allows the development of robust, secure, and scalable IoT solutions.
Understanding Flex83: IoT83’s Low/Pro-Code AEP
IoT83, a pioneering technology company, offers a powerful solution for Industrial OEMs seeking to harness the potential of custom IoT solutions. Flex83, their Low/Pro-Code Application Enablement Platform (AEP), empowers OEMs to quickly develop and deploy tailor-made IoT solutions. By offering a platform that strikes a balance between low-code simplicity and pro-code flexibility, IoT83 has redefined how OEMs approach IoT development.
Benefits of Flex83 for Industrial OEMs
Flex83 stands as an enabler of digital transformation and operational optimization for Industrial OEMs. Its unique characteristics offer several benefits that resonate with the complex requirements of the industry:
- Tailored Fit: Flex83 allows OEMs to build IoT solutions tailored precisely to their clients’ operational nuances. This ensures that the solution addresses specific challenges and delivers value at every level.
- Reduced Development Times: The platform’s low-code capabilities simplify the development cycle, significantly reducing the time it takes to transform an idea into a functional solution. This acceleration translates into quicker time-to-market and faster realization of ROI.
- Optimized Resource Utilization: Building IoT solutions from scratch demands significant resources. Flex83 reduces resource allocation by providing a framework that simplifies coding and integration processes, allowing teams to focus on innovation rather than coding intricacies.
- Scalability: Flex83 ensures that the IoT solution can scale as the business grows. Its architecture is designed to accommodate expansion, making it a future-proof investment for OEMs seeking longevity in a dynamic market.
- Reduced CapEx and OpEx: Flex83 directly contributes to reducing capital expenditures by providing a platform that expedites development. Additionally, its efficiency in operations leads to decreased operational expenditures over time.
- Empowerment Through Flexibility: Flex83 strikes the right balance between low-code convenience and pro-code flexibility. This empowers developers to harness their expertise while enabling non-developers to contribute to the development process.
Amidst the ever-changing landscape of Industry 4.0, the IoT AEP Market is anticipated to achieve a significant milestone, reaching a value of USD 40.5 Billion by 2033. This growth trajectory is fueled by a projected demand surge, expected to maintain a robust compound annual growth rate (CAGR) of 27.5% over the forecast period.
Industrial OEMs must harness the potential of IoT solutions to remain competitive. The decision to acquire or build an IoT solution is critical and has implications for long-term success. Custom-built solutions promise to address specific operational needs and foster innovation, yet concerns about development complexity and cost persist.
IoT83’s Flex83 addresses these concerns by providing an Application Enablement Platform combining low-code simplicity and pro-code flexibility. This powerful combination empowers Industrial OEMs to develop and deploy custom IoT solutions that optimize operations, enable digital transformation, and reduce capital and operational expenditures.
By unlocking the potential of Flex83, your organization can position itself at the forefront of Industry 4.0, delivering tailored solutions that drive efficiency and innovation in an interconnected world.
Akhil Arora, VP Sales at IoT83
Akhil’s extensive financial and business solutions expertise highlights his results-driven approach to assisting operational and product management teams. Specialized in Industrial IoT asset performance management solutions, Akhil excels at identifying client digital discontinuities and strategizes their digital transformation journey. His methods yield substantial immediate, near-term, and long-term value creation.