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

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