29 Business Ideas For Iot Engineers [2024]
Interested in starting a business as an iot engineer in 2024?
If managed well, building a business as an iot engineer could be more lucrative than employment. So, which are the best business ideas for iot engineers?
We put together 29 of some of the best iot engineer business ideas you can start in today.
For each business idea, we'll show you real-world examples of other iot engineer businesses to help you see what it takes.
Here's the full list:
1. Start a no code platform ($308K/month)
As an IoT engineer, leveraging no-code platforms could open a plethora of entrepreneurial opportunities for you. By utilizing graphical interfaces to develop applications, you could create custom solutions that integrate seamlessly with IoT devices without needing to write extensive code. For instance, you could develop user-friendly dashboards that collect and analyze data from IoT sensors, or design smart home automation systems tailored to specific needs.
The demand for IoT solutions is growing, and a no-code approach can help you quickly prototype and iterate your ideas, turning them into market-ready products. Whether you're looking to supplement your income or launch a full-fledged business, no-code platforms provide the tools to bring your innovative IoT concepts to life efficiently and affordably. By breaking down the barriers of traditional coding, you could democratize access to advanced IoT technologies and stand out in a rapidly evolving market.
How much you can make: $3,000 — $3,000,000/month
How much does it cost to start: $749 (?)
How long does it take to build: 85 days (?)
Codemap.io is a freelance & agency marketplace for no-code, low-code, and automation, enabling anyone to hire no-code experts to build their products, MVPs, and apps up to 10x cheaper and faster than with traditional development, with 900+ clients, close to $2,000,000 in created projects, and 110+ hires made, all achieved in less than 6 months.
2. Start a no code automation business ($23.5K/month)
As an IoT engineer, you could leverage your problem-solving skills and understanding of complex systems to start a no-code automation business. Using various no-code tools, you could automate repetitive tasks and workflows for businesses, simplifying processes without writing a single line of code. This could range from streamlining email marketing campaigns to integrating software applications and managing customer data, all of which are increasingly in demand as companies look to optimize efficiency and cut costs.
Considering your technical background, you would have a unique edge in customizing these no-code solutions to meet the specific needs of your clients. By focusing on enhancing operational efficiency, you could create significant value for businesses, making it a compelling side venture or even a standalone business. Start by exploring popular no-code platforms and consider earning certifications to boost your credibility in this rapidly growing field.
How much you can make: $5,000 — $100,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 70 days (?)
Codemap.io is a freelance & agency marketplace for no-code, low-code, and automation, enabling anyone to hire no-code experts to build their products, MVPs, and apps up to 10x cheaper and faster than with traditional development, with 900+ clients, close to $2,000,000 in created projects, and 110+ hires made, all achieved in less than 6 months.
3. Become an IT consultant ($482K/month)
As an IoT engineer, starting a side business or entire venture as an IT consultant could be a strategic move to supplement your income and diversify your professional portfolio. Your deep understanding of interconnected devices and system integration would uniquely position you to analyze and diagnose complex IT infrastructures effectively. By leveraging your specialized knowledge, you could help companies optimize their IT systems and successfully navigate their digital transformation journeys.
Moreover, your expertise in understanding client needs and designing tailored solutions could be highly valuable to businesses seeking to implement IoT technology. You could advise on best practices, emerging technologies, and cybersecurity measures, providing comprehensive strategies that align with their business objectives. This consultancy role not only offers a potential income boost but also broadens your network and opens avenues for future entrepreneurial ventures in the burgeoning IoT landscape.
How much you can make: $2,100 — $4,166,667/month
How much does it cost to start: $650 (?)
How long does it take to build: 60 days (?)
This case study features Md. Yousuf Ali, the founder of Rank Trends, who shares how he started a successful digital marketing agency, which generated a revenue of over $6k per month through SEO and video production services.
4. Create a shopify app ($52.4K/month)
As an IoT engineer, developing a Shopify app could be a lucrative side business or even a full-time venture. Your technical expertise in coding and UX design positions you well to create sophisticated, high-demand tools that enhance the functionality of Shopify stores. You could focus on solving common ecommerce challenges like inventory management or customer engagement, leveraging your ability to develop smart, automated solutions.
The ecommerce market is booming, and an effective Shopify app could generate recurring revenue through monthly subscriptions or one-time fees. While it requires ongoing development and customer support, the built-in market of the Shopify App Store makes it easier to reach potential customers. With your technical skills and a keen sense of market needs, you could create a valuable tool that serves thousands of ecommerce businesses.
How much you can make: $10,000 — $110,000/month
How long does it take to build: 90 days (?)
SuperLemon, a WhatsApp plugin for Shopify eCommerce stores, crossed $29,000 in MRR as of July 2020, with 20,000 users from 50+ countries and 1700+ paying customers, all acquired through organic marketing strategies and a relentless focus on customer service and satisfaction.
5. Start an email marketing tool ($992K/month)
As an IoT engineer, you could leverage your technical expertise to create a sophisticated email marketing tool that uniquely integrates with IoT devices. For example, you could develop features that allow real-time data from smart homes, wearable devices, or industrial IoT systems to trigger personalized email campaigns. This would give your email tool a competitive edge by offering automation that is both dynamic and context-aware, a compelling value proposition for tech-savvy businesses.
Given the projected growth of the email marketing software market, seizing this opportunity not only supplements your income but also allows you to delve into entrepreneurial ventures. By focusing on the booming demand for advanced email marketing solutions, you could tap into a lucrative market and build a tool that caters to various industries, from startups to real estate agents. This approach allows you to blend your IoT skills with business acumen, creating potentially transformative and high-value software.
How much you can make: $120 — $20,833,333/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 180 days (?)
H-supertools founder Hasan developed a set of free SEO and digital marketing tools generating $2k per month in profit using Google Adsense, affiliate marketing, selling ad spaces, and email, plans to launch a membership option, and has attained over 80k registered users and 300k monthly visits in less than two years.
6. Start a time tracking app ($223K/month)
As an IoT engineer, you could leverage your expertise to develop a time-tracking app that brings together hardware and software integration in novel ways. With the increasing demand for remote work solutions, your app could stand out by offering seamless, real-time tracking capabilities through IoT devices, providing unprecedented accuracy and convenience. For example, the app could automatically log time for tasks when employees are in certain locations, using geofencing technology.
By creating sophisticated analytics and reporting features, you could offer managers and enterprises insightful data to improve productivity. Your understanding of IoT networks and cloud-based solutions would enable you to create a scalable and secure environment for the app, ensuring the integrity of the data collected. This blend of innovation and practicality could offer a lucrative side business or even a full-fledged enterprise in response to the growing need for efficient time management tools.
How much you can make: $350 — $1,833,333/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 180 days (?)
Labor Sync is a mobile application that provides business owners with the ability to track the time and GPS location of their mobile workforce and after just one year of use, they saved $104,000 across 45 employees despite starting off with no funds for advertising or marketing.
7. Start a cloud management software ($129K/month)
As an IoT engineer, starting a business focused on cloud management software could be a smart move to supplement your income or even build a full-fledged company. Given the digital transformation across industries, companies are increasingly relying on cloud services for their operations—creating a lucrative market for tools that manage these resources efficiently. Your expertise in designing user-friendly interfaces and robust backend systems could prove invaluable.
You could create software that helps businesses monitor and optimize their cloud infrastructure, ensuring data storage, security compliance, and operational efficiency. The potential market spans diverse fields such as healthcare, finance, and beyond, offering you numerous opportunities to grow and expand. If you're entrepreneurial-minded and enjoy solving complex problems through software development, entering the cloud management space could be both financially rewarding and intellectually satisfying.
How much you can make: $25,000 — $330,000/month
How long does it take to build: 180 days (?)
Third Wave Analytics developed the world's first cloud-based and customizable LIMS platform on Salesforce, generating $330k monthly revenue from clients such as Ohio State University and Boston University School of Medicine while partnering with the University of California-Berkeley for a COVID-19 study; founder Savitra Sharma advises aspiring entrepreneurs to focus on clear objectives to meet their goals.
8. Start a sales automation platform ($160K/month)
As an IoT engineer, you could leverage your technical skills to create a sales automation platform that streamlines various sales processes, such as lead generation, follow-ups, and data management. By automating these tasks, businesses can significantly enhance their efficiency, reduce errors, and refocus their energies on closing deals rather than being bogged down by administrative duties.
This venture taps into the growing demand for efficiency and digital transformation in today’s fast-paced business environment. Your background in IoT and software development uniquely positions you to develop a robust tool that integrates seamlessly with existing systems, adding significant value for tech-savvy entrepreneurs looking to optimize their sales processes. This could not only supplement your current income but also become a lucrative standalone business.
How much you can make: $1,000 — $1,666,667/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 105 days (?)
GreenRope, a self-funded CRM and marketing automation platform with over 1,000 customers in 20 countries, was built organically and focused on creating a positive, customer-centric culture without outside investment, with an all-in-one interface solving challenges in managing sales, marketing, customer service, and operations.
9. Become a software developer ($51.7K/month)
As an IoT engineer, transitioning to a software developer or starting a software development side business could be a strategic move to supplement your income. Your technical skills and programming experience provide a strong foundation for creating software that can enhance IoT applications, such as cloud-based solutions or mobile apps, aligning with current technological trends.
Additionally, with an average salary of $110,140 for software developers and potential earnings of up to $140,000 annually for the top 25%, you could significantly boost your income. Running a software development business allows you to meet the growing demand for customized software solutions, catering to various business needs and capitalizing on your existing expertise in the IoT sector.
How much you can make: $500 — $350,000/month
How long does it take to build: 100 days (?)
SkyVerge, a software company, has grown rapidly with revenue of $350,000 per month, over 100,000 eCommerce customers, and a globally distributed team of 30 people, all through starting with consulting projects and building focused and solutions-based products, acquiring small products from other developers, and focusing largely on content marketing and providing excellent customer support.
10. Start an user feedback app ($28.7K/month)
As an IoT engineer, starting a user feedback app could be a seamless extension of your technical skills. By developing a platform that integrates effortlessly with websites, mobile apps, and email campaigns, you could enable businesses to gather real-time insights into customer needs and preferences without disrupting the user experience.
Your background in data analysis, app development, and user experience design would be instrumental in creating a tool that not only collects feedback but also organizes and analyzes it effectively. This way, businesses can make actionable improvements to their products and services, enhancing customer satisfaction. Plus, the potential for recurring revenue through subscription models makes it a promising venture for long-term financial stability.
How much you can make: $100 — $150,000/month
How long does it take to build: 180 days (?)
Page Flows is a library of inspiration videos for digital product designers and makes about $4,500 per month in revenue from a small, one-off price, with slow and steady growth and long-tail keyword SEO as key drivers of success.
11. Build an AI tool ($297K/month)
As an IoT engineer, leveraging your technical skills to build an AI tool could be a promising entrepreneurial venture. Given your experience in integrating devices and systems, you could develop AI-driven solutions like predictive maintenance tools, smart home assistants, or industrial automation platforms. These AI tools can harness the data produced by IoT devices, offering advanced analytics and decision-making capabilities that would appeal to various industries.
The demand for AI tools is booming, with businesses seeking ways to automate processes and enhance customer service. By creating specialized AI tools tailored for IoT applications, you could tap into this growing market, supplement your income, and potentially transform your side project into a full-fledged business. With AI revenues projected to skyrocket to $118.6 billion by 2025, the opportunity to capitalize on this trend is considerable.
How much you can make: $1,000 — $3,000,000/month
How much does it cost to start: $6,500 (?)
How long does it take to build: 57 days (?)
SkillSoniq, the world's first AI-powered recruiting app, connects companies with skilled freelancers on a trial basis, saving companies 60%+ in hiring costs and earning $350,000+ in gross revenues in its first year, with a current average of $40,000 a month, and plans to raise a second round of seed funding to achieve escape velocity and continue to form a world-class company.
12. Start a tech support business ($139K/month)
As an IoT engineer, leveraging your technical expertise to start a tech support business could be a lucrative side hustle or even a full-time venture. Given the rapid adoption of IoT devices across various sectors, from smart homes to industrial applications, there's a growing demand for specialized tech support. You could offer your services to help individuals and businesses troubleshoot connectivity issues, software glitches, or integration problems with IoT devices.
Your background in IoT engineering gives you a solid foundation for diagnosing and resolving complex technical issues, making you well-equipped to handle a variety of tech support challenges. Additionally, your ability to stay updated with the latest technological advancements can provide your clients with cutting-edge solutions and maintain a competitive edge in the tech support market.
Providing exceptional customer service by actively listening to clients and offering clear, patient advice will be key to building a loyal customer base. By addressing a wide range of technical problems and staying informed about new technologies, you could establish a reputable and successful tech support business.
How much you can make: $150 — $1,500,000/month
How much does it cost to start: $3,000 (?)
How long does it take to build: 90 days (?)
A passionate computer-coder entrepreneur shares the story behind his successful PDFShift business which after a year and a half generates $3.2k of monthly revenues with the focus now on growth.
13. Start an ecommerce marketing agency ($463K/month)
As an IoT engineer, starting an eCommerce marketing agency could be a strategic way to supplement your income or even pivot to a new business venture. Leveraging your technical background, you could offer specialized services to online sellers, helping them integrate IoT solutions to streamline operations and enhance user experiences, which can be a unique selling point for your agency. With the eCommerce landscape rapidly evolving, your expertise could help businesses stay competitive by adopting the latest technological trends.
Balancing between production, launching creative services, and growing their brands is often overwhelming for online sellers, driving the demand for specialized eCommerce agencies. You could capitalize on this need by offering technology-driven marketing solutions, whether focusing on a specific niche or providing end-to-end services. Keeping abreast of current trends and continuously building your digital skills will be essential in establishing your agency as a trusted partner in the eCommerce industry.
How much you can make: $7,500 — $8,300,000/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 60 days (?)
Iman Gadzhi made over $1.2M in profit within two years with his social media marketing agency and education company, where he teaches entrepreneurs how to start and scale a profitable SMMA, with over 45 of his students making over six figures with their SMMA, and over 300 students having quit their regular jobs.
14. Start an influencer platform ($71.6K/month)
As an IoT engineer, starting an influencer platform could be a strategic way to supplement your income or develop a full-fledged business. Your technical skills would be invaluable in creating a robust, user-friendly software that connects brands with influencers efficiently. You could develop a digital marketplace where brands can easily browse and evaluate influencers, leveraging built-in analytics to track campaign performance, and ensure seamless collaboration.
Given the growing influence of social media, you'd be tapping into a lucrative market with a high demand for genuine engagement and visibility. The groundwork involves curating a comprehensive database of influencers and effectively marketing to brands eager to amplify their reach. For IoT engineers with an entrepreneurial mindset, this platform offers the potential for scalable income and the ability to capitalize on the booming digital marketing ecosystem.
How much you can make: $500 — $350,000/month
How long does it take to build: 240 days (?)
This case study is about a founder who launched a paywall platform for content creators in 2019, bootstrapping it from $0 and eventually selling it for $3.5M on Flippa, with the platform generating between $125,000 - $142,000 in Monthly Recurring Revenue (MRR) on 95% margins.
15. Start a social media automation business ($139K/month)
As an IoT engineer, starting a social media automation business could align well with your tech-savvy skills and passion for innovation. Imagine utilizing your expertise to create cutting-edge tools that schedule posts, automate interactions, and analyze data across various social media platforms.
This could enable you to attract clients ranging from small businesses to influencers who seek to enhance their online presence while saving valuable time. By integrating your knowledge of IoT and automation, you could stay ahead of social media trends and develop tailored solutions, providing a unique advantage in a rapidly growing market.
Such a venture not only supplements your income but also allows you to explore entrepreneurial opportunities in a space where technology meets marketing, making it both profitable and intellectually rewarding.
How much you can make: $4,000 — $400,000/month
How long does it take to build: 50 days (?)
MeetEdgar, a bootstrapped social media automation tool founded in 2014 by Laura Roeder, has grown to $4 million in annual recurring revenue and more than 5,000 customers, with a team size of two dozen, achieved through content marketing, social media marketing, and organic search.
16. Start a business communications software ($1.48M/month)
As an IoT engineer, starting a business communications software could be a lucrative side business or even a full-fledged enterprise. You could leverage your technical skills and knowledge in connected devices to create cutting-edge tools that facilitate seamless communication within and between companies. These tools would not only streamline workflows but also enhance collaboration and overall productivity, making life easier for countless businesses.
The modern emphasis on remote work and technology underscores the massive market potential for reliable, user-friendly communication software. This largely uncharted territory presents numerous untapped opportunities for innovative solutions, allowing you to be at the forefront of transforming business interactions. By combining your expertise with entrepreneurial vision, you could play a pivotal role in shaping how businesses communicate in the digital age, while also carving out a profitable niche for yourself.
How much you can make: $5,000 — $10,000,000/month
How long does it take to build: 180 days (?)
PEAR Cards is a card-based tool/game that empowers players to open up and initiate positive conversations, and with the help of Ad Magic, their Kickstarter had an all-or-nothing fundraising goal, which they met with so much support the company is now growing through the power of Twitter and Instagram.
17. Start a maternity store ($3.25K/month)
As an IoT engineer with an entrepreneurial mindset, you could leverage your technical expertise to create a unique maternity store that stands out in the competitive market. By integrating IoT solutions, you could offer smart maternity wear that adapts to a pregnant woman's changing body, providing real-time comfort adjustments through sensor technology. This specificity not only meets the increasing demand for formal maternity wear but also promotes a tailored, tech-savvy shopping experience for working mothers.
Furthermore, considering the rise in the number of pregnant working mothers, you could capitalize on this trend by setting up an online store with smart fitting options, virtual consultation sessions, and AI-driven customization for size and fabric choices. You could also develop an app that syncs with the wearables, allowing customers to monitor and adjust the fit and comfort of their maternity wear throughout their pregnancy. Embracing these IoT-driven advancements would position your maternity store as a cutting-edge choice for expecting mothers, ultimately supplementing your income and potentially growing into a successful business venture.
How much you can make: $1,500 — $5,000/month
How long does it take to build: 180 days (?)
Mamalates Birth Recovery Method has successfully built an e-commerce store and market by creating pilates based pregnancy and postpartum workout kits, DVDs, and training programs for birth and fitness professionals, combined with a prenatal/postpartum video streaming site, and has been able to create a profitable and sustainable business.
18. Start an artificial intelligence business ($60K/month)
As an IoT engineer, starting an artificial intelligence business could be an excellent opportunity to supplement your income or even pivot into a new full-time enterprise. Given the staggering estimated growth of the global AI market—approximately 54% YoY, reaching over 22 billion U.S. Dollars—you could be tapping into a lucrative and rapidly expanding field.
Leveraging your existing expertise in data collection, automation, and sensors, you could develop innovative AI solutions tailored for IoT ecosystems, such as predictive maintenance systems or smart home automation platforms. The intersection of AI and IoT presents a unique niche where your skills can be highly valuable, turning emerging technologies into practical applications that address real-world challenges.
For more inspiration, consider exploring this full list of top artificial intelligence business ideas to identify a niche that aligns well with your existing skills and market needs.
How much you can make: $150 — $300,000/month
How much does it cost to start: $6,500 (?)
How long does it take to build: 90 days (?)
AdviNOW Medical uses artificial intelligence to automate clerical work, resulting in doctors being able to focus solely on patients and patients seeing more doctors every day, leading to increased profitability while solving healthcare issues.
19. Start a germicide manufacturing business
As an IoT engineer, you could leverage your expertise in technology and automation to start a germicide manufacturing business. By integrating IoT solutions into the manufacturing process, you could streamline production, optimize resource usage, and ensure high-quality control, all of which are crucial in the production of germicides. For instance, smart sensors and automated systems could monitor and regulate chemical mixtures, enhancing the efficiency and safety of your operations.
Furthermore, the rising demand for sanitization products, especially in healthcare and public spaces, presents a lucrative market opportunity. Your background in IoT could give you a competitive edge, enabling you to create innovative germicidal products that incorporate smart features, such as dispensers that monitor usage and send alerts when refills are needed. This blend of technology and germicide manufacturing could position your business uniquely in the market, attracting tech-savvy clients and setting you apart from traditional manufacturers.
20. Start a customer intelligence analytics business ($107K/month)
As an IoT engineer, you could leverage your expertise in data collection and analysis to start a customer intelligence analytics business. By utilizing the abundant data generated from IoT devices, you could offer businesses insightful and actionable analytics to enhance their decision-making. This could range from optimizing marketing strategies to improving customer service and retention rates.
Your experience in handling complex datasets and your strong communication skills could position you as a valuable asset to businesses seeking to understand their customer behaviors more effectively. With the growing need for data-driven decision-making across various industries, your services would be in high demand. Companies like Verint Systems Inc., which generated $1.3 billion in revenue in 2022, demonstrate the lucrative potential in this field.
Starting a customer intelligence analytics business allows you to tap into a market that benefits companies of all sizes, from small enterprises looking to refine their sales strategies to large corporations aiming to enhance customer loyalty. This opportunity not only supplements your income but could also pave the way for a successful full-time venture.
How much you can make: $100 — $840,000/month
How long does it take to build: 180 days (?)
EspoCRM, an open-source CRM application for small and mid-size businesses, has seen an average of over 16,000 downloads per year and makes up to $30k per month, offering efficient tools to systematize customer data, improve sales cycles, and automate routine administrative tasks.
21. Start a data mining and analytics tools business ($237K/month)
As an IoT engineer, you could leverage your expertise in data mining and analytics to create software that transforms raw IoT data into actionable insights. By developing sophisticated data mining tools, you have the opportunity to help industries such as finance, healthcare, and retail uncover patterns, trends, and insights that drive strategic decision-making.
Your strong background in programming, statistics, and machine learning would be invaluable in creating effective analytics solutions. With the demand for data-driven decision-making on the rise, you could provide businesses with the intelligence they need to stay ahead, pioneering industry transformations and driving success.
How much you can make: $450 — $1,500,000/month
How much does it cost to start: $750 (?)
How long does it take to build: 107 days (?)
Parseur, the data extraction tool, helps businesses automate their data entry process, catering to multiple industries such as food delivery, real estate and marketing, and has grown to over $40k in revenue per month since its launch in 2017.
22. Start a project management tool ($162K/month)
As an IoT engineer, you could leverage your technical expertise to create a cutting-edge project management tool tailored specifically for the complexities of IoT projects. Developing such a tool could focus on features essential for IoT teams, like real-time tracking of connected devices, integration with various IoT platforms, and enhanced collaboration tools to streamline communication across different sets of hardware and software components.
Offering this software as a web or mobile application through a software-as-a-service (SaaS) model presents a scalable business opportunity. By addressing the unique challenges faced in IoT project management, you could attract a niche market of IoT companies looking to improve workflow, accountability, and efficiency. This innovative solution could supplement your income or evolve into a full-scale business venture, providing consistent revenue through subscription fees.
How much you can make: $3,000 — $830,000/month
How long does it take to build: 178 days (?)
GreenRope, a self-funded CRM and marketing automation platform with over 1,000 customers in 20 countries, was built organically and focused on creating a positive, customer-centric culture without outside investment, with an all-in-one interface solving challenges in managing sales, marketing, customer service, and operations.
23. Start an AI SaaS business ($39.3K/month)
As an IoT engineer, starting an AI SaaS business could be a lucrative way to supplement your income. Imagine leveraging your technical skills to create cloud-based AI solutions that help other businesses thrive. These solutions could include anything from natural language processing tools to predictive analytics, all designed for seamless cloud integration.
You could develop and deploy these sophisticated applications, allowing companies to subscribe to your services without needing extensive in-house infrastructure. This not only provides them with cutting-edge technology but also places you at the forefront of a fast-growing market. With your expertise in IoT and a keen understanding of industry needs, an AI SaaS business could be a scalable and highly profitable venture.
How much you can make: $150 — $200,000/month
How much does it cost to start: $2,750 (?)
How long does it take to build: 20 days (?)
NotionForms, a SaaS company offering a form builder integration to Notion, boasts an impressive total of 26k users, 850 paid subscribers, and an ARR of $182k, with steady growth since its launch and being used internally by many huge tech companies.
24. Start an AI-based business ($27.9K/month)
As an IoT engineer, you could leverage your existing expertise to venture into the rapidly growing field of AI-based businesses. By integrating AI with IoT, you could develop intelligent systems that not only collect and process data but also analyze it to offer actionable insights in real time. This fusion opens up opportunities for creating smart home solutions, predictive maintenance tools for industrial applications, or even AI-driven energy management systems.
The potential to revolutionize traditional sectors with AI is immense. For instance, you could build platforms that use AI to optimize logistics and supply chain processes, enhancing efficiency and reducing costs for businesses. With your technical skills and an entrepreneurial mindset, stepping into the AI arena could place you at the forefront of technological innovation, allowing you to supplement your income or even start a lucrative side business.
How much you can make: $100 — $200,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 40 days (?)
LowCode Agency uses no/low code tools to build custom-made apps at 80% lower cost and 70% faster than traditional app development agencies, growing double digits every month and targeting $150,000 in sales in their first year.
25. Start an AI based content creation business ($19.3K/month)
As an IoT engineer, starting an AI-based content creation business could be a highly synergistic venture. Leveraging your expertise in machine learning and data analytics, you could develop advanced platforms that generate articles, social media posts, product descriptions, and more, all from simple keywords. This would not only streamline content marketing strategies for businesses but also reduce the man-hours and costs associated with traditional content creation methods.
The market potential for this service is expansive, given that content creation is a cornerstone of most businesses’ operational strategies. Your technical know-how could allow you to create algorithms that maintain the desired organic feel and relevance, making the automated content both appealing and effective. This venture offers you the chance to blend your technical skills with entrepreneurial flair, pioneering innovative solutions in the digital landscape while meeting a critical business need.
How much you can make: $1,000 — $100,000/month
How long does it take to build: 135 days (?)
Nichesss is an AI content generation tool that helps businesses and individuals write content quickly; founded by self-taught programmer Malcolm Tyson, the company has generated a monthly revenue of $30,000, with a user base consisting of copywriters, small businesses and marketing agencies.
26. Start a bodywear business
As an IoT engineer, you could leverage your expertise in sensors, connectivity, and data analytics to create innovative bodywear products that cater to the growing demand for health and fitness tracking. Imagine developing smart garments that monitor vital signs, track physical performance, or even provide real-time feedback for corrective posture—all integrated seamlessly with mobile applications. This technological edge could set your bodywear business apart in a competitive market, appealing to both fitness enthusiasts and health-conscious consumers.
Additionally, given your background, you could design your products to collect valuable data, providing insights through machine learning algorithms for personalized user experiences. This is not just a side hustle but a potential full-scale business where your technical skills in IoT could translate into scalable and profitable products. By diving into the bodywear market, you could combine your passion for technology with entrepreneurial ambition, creating products that empower people to live healthier, more informed lives.
27. Start an innovation and technology co. ($1.99M/month)
As an IoT engineer, starting an innovation and technology company could be a strategic move to supplement your income or launch a full-time business. Your advanced understanding of IoT makes you well-suited to offer consulting services that businesses increasingly demand. By helping companies integrate leading-edge technologies such as AI, blockchain, and IoT, you could streamline their workflows, enhance productivity, and boost performance.
Given the continual advances in technology, the demand for companies to stay competitive is ever-growing. This translates into a steady market for your consulting services. If you have a passion for cutting-edge tech solutions and an entrepreneurial spirit, launching an innovation and technology company could provide a fulfilling outlet for your skills and drive, all while addressing pressing business needs.
How much you can make: $1,000 — $13,500,000/month
How long does it take to build: 135 days (?)
UK-based Idea Drop is a software-as-a-service (SAAS) allowing businesses to identify, refine and execute innovative ideas through its platform, which is already being used by MT, Ericsson, and the Kent Police Force, offering a public challenge facility allowing clients to crowdsource ideas, with one Covea idea implemented via the platform estimated to save the company £2.5m over five years.
28. Start a white label food delivery app
As an IoT engineer, starting a white label food delivery app could be a strategic move to supplement your income or embark on an entrepreneurial journey. Given the high demand for food delivery services, tapping into this market by providing a rebranded, ready-to-use app could be a lucrative side business. You would be leveraging your technical expertise to ensure seamless integration and performance, making your product more appealing to potential clients.
By opting for a white label solution, you could bypass the extensive time and resource investment associated with coding a new application from scratch. This allows you to focus on adding value through customization, support, and scalability of the app for restaurant owners and delivery personnel. Renting or leasing the software under a subscription model could also create a steady revenue stream, offering financial stability while you continue to explore other IoT-related ventures.
Furthermore, your engineering background could position you as a trusted advisor, helping clients optimize their delivery operations through innovative IoT solutions integrated into the app. This not only sets you apart in a competitive market but also opens up additional opportunities for consulting and cross-selling IoT services.
29. Start an augmented reality based jewellery store app business
If you're an IoT engineer with an entrepreneurial spirit, venturing into an augmented reality (AR) based jewellery store app business could be a stellar opportunity. Leveraging your technical expertise, you could develop a virtual jewellery store where users can browse, select, and virtually try on jewellery from the comfort of their homes. This intuitive application would enhance the shopping experience, allowing customers to see how pieces like necklaces or rings look in real-time, right on their devices.
The convergence of cutting-edge AR technology with the luxury fashion market presents an untapped avenue ripe for exploration. Given the increasing prevalence of AR and the ubiquity of smartphones, you have the tools and the market to make this idea a reality. By creating a seamless, engaging, and practical digital shopping experience, you not only simplify decision-making for customers but also innovate within the e-commerce realm. This venture could transform the way people shop for jewellery, positioning you at the forefront of both technological and commercial advancement.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
