An IoT platform is the support software that provides a connection to hardware, data networks and access points to other segments of the value chain. IoT platforms handle visualization of data and its management allowing users to automate their environment. Stats from Gartner suggest that in next five years IoT platforms will be managing interoperability of 25 billion devices. IoT platform provides efficiency in maintaining various aspects of IoT at a single place.

Components of an IoT platform

• Connectivity – Connectivity is the primary layer of every IoT platform. It brings various protocols and data formats in a single software interface. This is essential because it ensures that all devices can interact, and data interpretation is correct. Having complete data of devices in one place and single format helps in easy monitoring, managing, and analyzation of the IoT devices. Libraries must be set up to integrate different data from different devices so that integration of data becomes easy. Many advanced devices usually provide API’s that allow a standard communication interface to the IoT platform.
• Device Management – The device management component of a platform makes sure that the devices connected are working efficiently. It also checks that the device’s software and applications are updated and running smoothly. This component includes provisioning of devices, management of software’s, remote configuration and troubleshooting. As there are millions of devices connected to IoT platforms automation is necessary to reduce manual labor and costs.
• Database – Storing data is an essential component in IoT platform. The amount of generated data is high so storing the data sometimes proves difficult. Many times, sensors produce inaccurate data which is also stored. The storage of various data produced by multiple devices makes an analyzation of data difficult. An IoT platform provides cloud base data solutions to these problems. Data is distributed across a variety of sensor nodes with different storage for both (SQL) and (NoSQL) data.
• Processing and management of actions – Under this component the data stored is processed and managed. It allows devices to perform smart actions according to the data received by the sensors.
• Analytics – In numerous cases, action management requires analytics to get most out of the data stored. The analytics engine comprises a variety of dynamic calculations of the data received by the sensors. It provides algorithms which allow the IoT platforms to work according to the user.
• Data visualization – It is also known as visual analytics. Many times, the intervention of human labor is required for efficient working of IoT platforms. Visualization is in the form of pie-charts or 2-D,3-D models. It enables humans to see patterns and working data on devices.
• Additional tools – Some IoT platforms provide a set of tools for developers and managers. These tools help the developers to test and prototype IoT cases. It also allows creating basic smartphone apps for controlling and visualizing the connected devices.
• External interfaces – In established enterprises it is essential that the IoT easily integrates with their existing systems, management tools, and execution systems. Built-in API’s, SDK’s and gateways are a necessity for integration of various applications.

Types of IoT platforms

There are more than four hundred fifty platforms available in the market today with growth almost every week. However, there are 3 significant ways to differentiate IoT platforms. They are based on:

Technological depth – Development of an integrated IoT platform with various required modules is a hefty task. Integration of these modules into IoT standards requires years of focused work. Therefore, the technology depth is divided into 3 levels

1. The connectivity platform (level- 1)
2. The action platform (level-2)
3. The full-scale platform(level-3)

Segment focus – It is mainly inclined towards end customer segment. It includes different device and protocol support to that of enterprise end. It requires different analytics, integration in different interfaces, and different kind of security infrastructure. Therefore, IoT platform enterprises have started focusing on end-user segments such as smart cities, connected cars, and smart homes.

Implementation approach – The third major type of IoT platform is based on integration approach of the platform provide organization. Some platforms do not offer extensive implementation support whereas some provide those services. Such as

1. One stop platform
2. Customizable platforms.

Factors to consider before selecting an IoT platform:

1. Choose a fully developed platform
2. Evaluate organizations risk appetite
3. Evaluation of developer’s skills
4. Consider a platform with ease of integration
5. Select a platform that fits enterprise’s needs.

With the increase in the use of IoT, IoT platforms have become a necessity. Many organizations are using their platforms in-house depending on the approach to the market. It is much easier and time-saving to go for prebuilt options.