Free IoT Project Cost Estimator

May 13, 2021
by The Ioterra Team

The World is Connected – Now More than Ever

We are happy to release our 2nd annual report: The IoT Project Cost Estimator Insights Report, a year’s retrospective of what connected devices were being developed during a pivotal time of digital transformation.

Our IoT Project Cost Estimator Tool is a free resource for companies to gain accurate estimates on timeline and costs to develop their product within 3 engineering types:

  • Mechanical Engineering
  • Electrical Engineering
  • Embedded Firmware Design

After companies answer a series of questions regarding the criteria of their device(s), they receive a baseline estimate and confidence to move forward with a guideline in development.

Within this report, you’ll find several key findings and more:

  • In 2020, there were over 584 entities that requested an estimate
  • The average cost in developing a production prototype was over $117K (USD)
  • Smart Home, Industrial Automation and Smart Agriculture were the top 3 industries being developed-in

Learn more about how companies were approaching their IoT initiatives by downloading the report below.

Download Report

Submit a Comment

Latest Solutions

FLIR Boson

by GroupGets

The FLIR Boson longwave infrared (LWIR) thermal camera core is a giant leap forward in thermal imaging performance, size, and price.



by GroupGets

AudioMoth is a low-cost, full-spectrum acoustic logger, based on the Silicon Labs Gecko processor range.

Latest Service Partners


EMBIQ is a technology company empowering R&D teams and projects. The company was built on brilliant experience in IoT, SmartCity and MedTech.

Dragon Innovation

Dragon Innovation provides solutions for the fastest, simplest, and safest way for companies to manage manufacturing complex products at scale.