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7 reasons why IoT Device Lifecycle Management Platform is Essential for Connected Device Development

7 reasons why IoT Device Lifecycle Management Platform is Essential for Connected Device Development

Managing devices smartly is a very important activity for any product company. IoT Device Lifecycle Management platforms can enable seamless and proactive management of programs concerned with connected device development.

In the last decade, the use of connected devices has skyrocketed, both in industries as well as homes. According to Markets&Markets, the combined market for these platforms is expected to grow at a CAGR of 29% between 2016 and 2022 to reach $30 billion by 2022.

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Many companies have to manage large volumes of interconnected devices which is considered to be a major challenge. According to a Device Pilot study, about 88% of companies find device management as a major concern and are incorporating methods to manage their devices seamlessly. In such a scenario, a platform is needed to manage all on-field devices with ease. This is where device lifecycle management comes handy.

Why you need IoT Device Lifecycle Management?

  1. To know your devices: Device lifecycle management platforms can assist you in managing, tracking, securing, and sustaining all your devices. Device lifecycle management dashboard can be remotely accessed to allow devices to be provisioned, managed and decommissioned in real time.
  2. To improve productivity: It helps in asset utilization enabling employees to find more time to focus on core and value creation, thus improving the output of the organization.
  3. Reduce downtime: Apart from these activities, device management helps you monitor errors and bugs and rectify them in real-time. This helps in minimizing device downtime, which in turn, improves service reliability.  For any company, developing and releasing products into the market is simply not enough. There is a greater need to manage the product lifecycle so that with time these devices will meet user expectations.
  4. Stay updated: Device lifecycle management allows you to remotely upgrade and configure devices, thus, making it convenient to manage them while increasing device uptime.  It is available both as a Cloud-based and on premise solution, giving you the flexibility to manage on-field devices from any location in real time.
  5. Focus on customer satisfaction: It allows you to reduce your time in ticket solving and provide exceptional customer service. Better customer service builds reliability and trust. Apart from saving time and costs, it also helps in reducing overheads by automating superfluous processes.
  6. Fix the spark before it catches fire: It alerts or sends alarms in case of an emergency, helping you to fix the problem and troubleshoot the root-cause immediately.
  7. Data Feedback: With a sea of interconnected devices generating enormous amount of data, Device lifecycle management can provide in-depth analysis on the performance of each device for effective device lifecycle management.

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For any product company, the real time data derived from the usage of the devices can give great insights in order to deliver better utility. For any organization, this data could be very vital to continuously improving the product functionality. This will in-turn increase the product satisfaction rate among consumers.

eInfochips offers IoT Device Lifecycle Management solutions, providing a platform for remote upgrades and perform maintenance for your devices. This enables considerable reduction in device downtime and improve productivity of employees. Automating the process also brings significant improvements in the operational efficiency of the business. With automated alerts and remote troubleshooting, it has helped many stores to remotely manage their devices with ease.

If you want know more on IoT Device Lifecycle Management design, check our article on “4 Fundamental Building Blocks in Designing Remote Device Management for IoT”

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